This is a boom time in the real estate sector in Inida. There are some hot destinations among the people like Noida, Greater Noida, Ghaziabad, Gurgaon & Chennai. Last 2 years Noida is the most popular among above all these destinations. So, in Noida property price is increasing day to day. Now property rates are on the rise in Sectors 76 and 78 in Noida, due to its proximity to the Metro station and connectivity to the NCR through NH-24. A proposed Metro project and connectivity to other parts of the city are other factors propelling demand here.
In this part of Noida a high quality infrastructure is attracting major investments. The capital value for apartments in these sectors is about Rs 3,000 to 5,000 per sq ft. Sector 78 has seen a rise of 5% in capital values in the October to December period compared to the July to September period. Sector 76 has seen a steep rise of 19% in the capital value of apartments in the same period.
According to Alok Tyagi of ATN Infratech, Sector 78 is a developed residential area of Noida and people are attracted to the locality for two reasons – first, the proposed Metro project, which is supposed to be completed by 2012-2013; second, the 3C Sports Village, which is gaining popularity for its sports facilities, which is just 10 minutes away from DND flyover and Sector 18.
Tyagi says that when developers like Amrapali Group started projects in Sector 78, the rate was in the range of Rs 2,000 to 2,500 per sq ft. “Now, the same apartment will cost about Rs 3,500 per sq ft,” he says.
Increase in the residential values in this sector indicates a booming economy, which serves as a centre of attraction for the people across the country. Properties in this locality offer a location which, in the long run, will fetch good returns, which will only grow by the day.
Dheeraj Singh of Orion Estate says that these sectors are located near Sector 50 and are very well connected with the NCR through NH-24 and the proposed Metro line. This area is under development and all the projects are just begun. “For budget-home seekers, it’s an excellent investment option in the middle of Noida with world class amenities.”
Sushil Tyagi of Investors Solutions says that the other plus points of investing in Sector 76 are the forthcoming projects here. Some of them are Silicon City by Amrapali Group, Max Royal by Sethi Group which is a new green living concept, J M Orchid by J M Housing Pvt Ltd, and Fortis hospital. Owing to increase in activity by developers in this locality, the demand for premium properties has gone up.
Prateek Jain of Vibgyor says that Aditya Celebrity Homes is also attracting investments in this area. Realtors believe that properties in this area will fetch valuable returns in the long run.
Although the property prices is hiking all over country at this point of time, yet in Noida property price running with accelerator. According to trend guru’s it is the best time for purchasing the home or investments otherwise in the coming time it will be hike more and more!