New Mantras of Real Estate for Noida Properties

The city, Noida is well-known for being the hub for numerous IT/ITES offices, educational centers, entertainment zones, industries and renowned hospitals. Due to these developments in the city, it has now extended to its surrounding regions like Noida Extension, Greater Noida and Greater Noida West. This area has got a lot of popularity amongst the realty developers as Noida is said to be one of the favorite real estate destination in the whole of NCR. Property in Noida is witnessing rapid growth in the constructions as compared to the rest of National Capital Region. 

When we talk about Noida properties, they range from residential to commercial and from office and retail spaces to multi-use projects. Numerous reputed developers construct the projects keeping in mind the rules and regulations of international infrastructure developments. The developers also prefer to use RCC framework as well as advanced building materials that would impart earthquake resistant features to the projects.

The developers are making sure that they put in features that are either desired by the buyers or that would attract the customers. One such feature is a green building which helps the developer to provide rich green spaces for the needs of the buyers in various segments including retail spaces, housing, business centers, office spaces and entertainment areas. These residential and Commercial Properties in Noida features landscaped greens with unique amenities for the people of all age groups.

Some builders are working effectively and efficiently on constructing the value for money real estate properties that are affordable for the buyers as well. Many renowned and reputed developers are developing properties in Noida and nearby regions offering affordability along with premium lifestyle. These includes Supertech, Ajnara, Gaursons, Nimbus Group, Antriksh Group, MMR Group and JM Housing among many other developers.

 Currently, there has been seen a lot of change in the economic setup of Noida and Greater Noida. Numerous investors have trusted the Properties in Noida as the location is a promising location to invest in. Many people say that the Property in Noida is majorly for the affluent buyers or people which experts believe is not true as many affordable projects are seen in the real estate scene of Noida. This includes both residential as well as a commercial project in Noida. The future is bound to see more constructions in segments like office spaces, retail spaces, commercial and IT centers and multi-use developments. The increase in the demand for affordable homes lead the homebuyers to this region of the National Capital Region offering pocket-friendly rates for premium lifestyles. 

Why do Property Buyers in Noida to Pay Hiked Rates of Stamp Duty?

The Property buyers in Noida are all set to pay increased stamp duty. Despite opening of the offices, registry and stamp department has nearly completed 2000 registries. The issuing of around 49 developers’ Projects in Noida have been stopped due to the absence of the eco-sensitive zones of the Okhla Bird Sanctuary.

The centre notified the eco-sensitive zone. Out of the total 49 developers, 26 of the developers having almost 16710 thousand apartments in Noida properties who have occupied the certificate from Noida Authorities. As per the authorities, the decision of increase in stamp duty that was decided by the state government will not be rolled back. The department of stamp and registration is being asked to work all days expect Holi till 31st March. The authorities say that to ease the burden of the home buyers, they have asked the register maximum Properties in Noida that the stamp and registration department can in advance of the government to issue hike in the stamp duty.

Thousands of registries and pending and very soon the stamp duty in the area is going to increase from 5-7 percent. Furthermore, the authorities have mentioned that the department generally develop 125 entries in a day whereas currently the department in registering almost 300 new Noida Properties in a day. The authorities however confessed that the target is pretty big and still there are thousands of registries that are pending for registry.

There are 26 developers with over 16,000 registries for the projects that were hampered due to the Okhla Bird Sanctuary. Apart from these developers, there are numerous other developers along with many individual registries which are also pending for Property in Noida, which crosses a total of 20,000 pending registries. For covering the maximum entries in a day, the authorities have been asked to provide additional infrastructure and manpower. Meeting up these deadlines is the prime motive of the authorities.

The increase in the stamp duty in Noida properties, the buyers are concerned as these will have an effect on their pockets and understanding the concern of the Property Buyers in Noida, the authorities are putting in the best of their efforts to reduce the pressure and burden of the Home Buyers in Noida.

Property Prices Get Costlier in Noida With Increase on Stamp Duty

The Uttar Pradesh cabinet has approved the hiking of the stamp duty on the homes by 2% in all the cities. This will automatically increase the burden of the buyers by 1-2 lakhs whereas the revenue department will be earning an additional of Rs 100 crore from Buyers of Property in Noida. With the Okhla Bird Sanctuary row, the home buyers will fell double whammy about their homes.

The buyers have got angry and accused the nexus between the developers, Noida Authority and district administration for various miseries. The developers believe that this would have an adverse effect on the GB Nagar real estate. Also. The authorities say as soon as the government issues the notifications and order, they will start to charge the new rates of the stamp duty.

The authorities also believe that this will take a month to complete the entire process, and thus they say that the hiked stamp duty is likely to charge from April. However, this will not go down pretty well especially with the buyers of Noida Properties. These buyers are especially those who were forced by the developers to wait out a legal battle to draw an eco-sensitive zone all around the Okhla Bird Sanctuary where they have bought apartments. Apart from these, there were numerous flats those were not delivered due to stay orders by the governments will be delivered now and these will be affected by the hiked stamp duty.

Previous year after the final notice to notify the eco-sensitive zone around the Okhla Bird Sanctuary, the respective department has declared that they will be charging additional stamp duty for the completed apartments that were not delivered due to the legal battle.

Noida Authority Launched 2000 Apartments on Republic Day - Property in Noida

The Noida Authority has launched affordable residential apartment schemes on January 26 that marked the occasion of Republic Day. These are around 2000 apartments under the Samajwadi Awas Scheme or Yojna.

The Samajwadi Awas Yojna is an aspiring housing scheme of Uttar Pradesh government under which the state aims to build around 3 lakh affordable homes in the range of Rs 10 to 15 lakhs this year for the low income group and economically weaker section segments of the society. This scheme is likely to offer concessions which includes single window clearances and rebate on the stamp duty.

The affordable housing will be provided in 3 sectors of Property in Noida including sectors 122, 118 and 117. While there are 1280 number of apartments in 71 meter sizes apartments and 32 meter size with a total 720.  However, the flats under this scheme will be allotted on the basis of the lottery.

The construction of these Property in Noida are already complete by the authorities and the money invested in the construction of these projects are almost Rs 160 crore. There are segmentation on the prices of the residential flats as the 71 meter flat are Rs 30 lakh and 32 meter flat for Rs 14.07 lakhs. The multi-storied buildings are located in a four-storied building. Under the scheme, although, the lower income group will have kitchen, 2 rooms, bathroom, balcony and toilet whereas economically weaker section apartments will have one room, toilet, bathroom, balcony and a kitchen.

Definitely this scheme is of benefit for the lower income group as well as the economically weaker sections. They will be able to have their own home at affordable rates as this would decrease their pressure of paying for homes with high rates. Thus, this is a good scheme by the government and the sections that are covered under this should utilize this scheme and secure their future as well.

Noida Authority’s Projects Gaining Momentum

The authorities believe, Noida needs some major traffic solution since the city catches continuous traffic jams due to the ever-increasing vehicles and population in the city. These three projects will bring a lot of relief to the travelers.

Once the construction of these projects starts, it will approximately take around 3 years for the projects to complete. The elevated road will come on the DSC Road from sector 41 to 49 which will cross the crossroads of sectors 82 and sector 110. This will start near Aghapur village and travelers will be able to travel easily towards Barola, Bhangel and Salarpur up to SEZ near 82 sector T-point.

The flyover will also have a path for entrance and exits and is estimated to cost around Rs 600 crore. The DSC Road is one of the busiest belt in Noida and traffic jams, mainly during the peak hours, are a consistent occurrence on it. The condition is made worse by the fact that the belt between Barola village close to Sectors 49 and 82 is very thin and heavily intruded upon. Once these projects are completed the road is expected to provide relief to commuters which are using the stretch very frequently or daily.

These will provide a signal-free connectivity to the commuters between Noida, Ghaziabad and Delhi and this is expected to complete in one and a half years. One underpass will be nearby the crossing of sector 47, 49, 104 and 107 whereas another underpass will be located nearby sectors 60, 62, 66 and 64 on the DSC road.The work of these underpass in expected to start in around 2 months and the tender of the first underpass is predicted to float by nest month. This particular project will cost around Rs 80 crore. However, the estimate for second underpass is Rs 60crore which is expected to start its construction likely by this April.

These developments in the infrastructure is definitely going to have a positive impact on the property in Noida and soon there will be more infrastructural developments that will be seen in the city. The projects will make it convenient for the travelers and commuters to travel in these areas in Noida and there will be no traffic jams that will be seen in these areas.Thus, this is making property in Noida an even more appropriate option for the buyers of residential and commercial properties with expectation of good returns in the future.

Noida Extension Over Other Places, Why?

Over the past few years, people are investing more in NCR, especially the buyers from other cities. People are finding NCR to be urbanized and modern for them as well as their families. 

NCR provides infrastructure as well as transport to people, becoming one of the major reasons why people are moving from their cities to National Capital Region. Also, NCR is providing with well-situated schools, established markets and good gated locality is attracting people more. One of the major reasons why people are moving from different parts of Delhi to rising urban areas such as Noida Extension is the wish of urban living with available recreational, luxurious and retail amenities.

The residential apartments in areas like Noida Extension are affordable, and many of these are semi-furnished and ready-to-move-in homes. Big lavish 2BHK is easily available at Rs 50 lacks which has big balconies and other facilities apart from good location. Along with this, many societies are equipped with a club house, jogging tracks, tennis courts and many more.

Noida extension offers a lot of residential housing options, allowing easy and smooth connectivity with NH-24, Greater Noida and Central Noida. It has a good future in quality housing options, Noida Extension is certainlya good investment destination for property.

The area influences buyers through branded housing options and some amazing amenities which sometimes are unmatched when compared to other areas. The housing options at Noida Extension offers residential units for middle class and luxurious apartments.

Noida Extension is definitely the area people have their eyes on. In the coming time, buyers will head more towards this area as there will be smooth and prompt connectivity to other areas. Choosing Noida Extension as the next choice of abode is obviously the right step towards investment.

Property in Noida has shown an extreme change in recent years and it is one of the leading cities in the path of development. There are many renowned developers that are investing in the city, thus, one can easily trust and invest without any worries for their dream homes. 

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