Why should NRI’s invest in Noida property?
Navyroof.com asks Noida property consultants Alpha One property, what exactly the state of play is in the Noida property market and if this talk of a bubble is true? Why should NRI’s invest in property in Noida and what are the key points they should keep in mind.
Alpha One is a real estate consultancy based in Noida, headed by Prerna Agarwal with 17 years experience in Indian real estate.
Why do you think Noida is a good place to invest in real estate?
Noida is part of the national capital region of Delhi, where major construction activity is happening. An active participation of the local state government authorities and presence of major private developers has resulted in this region emerging as major centres of realty activity in Delhi NCR. A number of colleges, schools, hospitals, sports centres are under various stages of development in this area so this is all positive for propetry in Noida.
What are your thoughts on the prospect on an “Indian property bubble”?There is a lot of talk on an Indian property bubble. This has to be viewed in context of the overall economic situation in India and the local real estate pricing trends prevalent in a region. The Indian economy is booming with an annual GDP growth rate of 8.5- 9% creating a class of potential investors with significant disposable income. As housing remains a concern in major metro cities, sufficient demand generators for residential units are there for the next decade.
In metros like Mumbai, prices have escalated by 50-60-% and demand has slowed down. However, property in Noida / greater Noida, developmental activity has gained pace in the last 2-3 years and the weighted average prices are still in affordable range of Rs. 3400/- psf.
As Noida and Greater Noida real estate activity is highly planned by local authorities, this region is poised for tremendous growth because of the superior infrastructure being put in place. Klassic heights, being part of a planned township with all necessary amenities required by a potential resident , becomes a good option as it is attractively priced and well designed.
Why is Klassic Heights worth investing in ?
Klassic heights is part of a 1162 acres of Wish Town being developed by Jaypee on the Express way leading to Greater Noida. The township offers a premium lifestyle within a gated residential, self sustained community accompanied with a grand view of landscaped gardens. Two golf courses, five star hotel, shopping malls, hospitals , school, IT colleges etc form a part of the integrated development. The project offers 2/3/4 BHK options in sizes of 1200/ 1500 / 2250 sft configuration. The site is flanked on two sides by shopping / commercial centres and has 70% green area. 24 x 7 power and water supply, exclusive social club, underground car parking are some of the features of the project.
Klassic Heights presents a unique opportunity for lucrative returns as prevailing prices in immediate vicinity are much higher. Excavation has already started at site so early project delivery is ensured.
Where do you see Noida prices going in future?
A conservative estimate of an annualized 15-20% growth is a distinct possibility for real estate projects in Noida with a five year time horizon.