GREATER NOIDA WEST
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Depending on the location and the builder's reputation , the pricing of apartments in Greater Noida West are in the range of Rs 2,500-3,500 per square feet.
A variety of factors have caused this price rise.In order to sort out the controversies related to the land acquisition,The authorities passed on the added cost to the builders,but,the builders decided not to pass on the cost to existing buyers.All the builders had already sold around 25% of their projects at the rate of around Rs 1,800-2,400 per sq ft.
But to recover the additional cost of compensation to the farmers,builders decided to raise the prices of the apartments that were yet to be sold and now the rates here are quoting in the range of Rs 2,500-3,500 per sq ft.
Inflationary pressures due to higher raw material prices also contributed to the price rise.Nonetheless,the area will still find takers because prices are still perceived to be on the lower side compared to other areas in the same vicinityThe NCR Planning Board
has already given clearance to the GNIDA's master plan.With this,the main hurdle appears to have been cleared because the high court,while placing a ban on construction,had said that the authority must get the NCR Planning Board's approval.
Should end users buy
End users may consider the area because it is attractive.Usually,one finds that if location and infrastructure are good,prices tend to be high.Here,as the volume of construction being undertaken is high and the FAR (floor area ratio) allowed is high,prices are reasonable for end users.
Before purchasing a project,ask for the builder's papers to ensure that his project land is not disputed.Also,take a look at the master plan to ensure that the project's location is favourable. with a builder who has a track record of several finished projects , whether you can afford reputed builders will,of course,depend on your budget,as their projects tend to be more expensive.
A sound bet for investors
Investors who purchased flats here 2 year or so earlier,in the Rs 1,800-2,000 per square feet range,have already reaped good appreciation with prices rising to the Rs 2,500-3,500 level..Gaur of Gaursons says that the next spurt will happen in the middle of the next year,when builders start giving possession of flats.
Key developers
Nearly 3,000 acre of land has to be developed in Greater Noida West and around 50 projects have already been announced.According to available information,the number of projects here could rise to over 100 in the future.
The biggest developers here,based on their land banks,are Gaursons over 250 acres 25,000 flats in all , Amrapali .and Supertech others are Mahagun , Ajnara ,Patel , Nirala Abhimanyu Housing, Exotica , Panchsheel Earth Infrastructure , etc