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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Ghaziabad > Is Indirapuram/Noida Prices Correcting due to NE ?
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Old August 29 2012, 03:52 PM   #1
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Default Is Indirapuram/Noida Prices Correcting due to NE ?

Hello Guys
I was going through the property trends of few sectors of Noida and come across that few sectors showing negative trends in last quarter and those are sector 93,50 and 44. Sector 61 and 62 showing positive trends.
I am not sure how to put a link here but I can tell you the details here.

Sector 50 : no increase on average price
Sector 44 : -9%
Sector 93 : -3%
Sector 61 and 62 : 6 %

I am intentially not putting this thread in Noida area as I find most of them either too biased for jaypee , 3c or sector 7x projects or they speak like brokers.

I know these numbers are from property website but this still give trends which can be used to evaluate growth of over hyped expressway and 7x Projects.

Senior members : Saurabh and other guys please put your thoughts on this that why already habitable sector showing downtrend when we hear that Noida has great future , lot of company coming , F1 track and so one.. from this data I feel Noida is just an ordinary suburb of Delhi with better internal roads and metro.

 
Old August 29 2012, 08:53 PM   #2
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Default Is Indirapuram/Noida Prices Correcting ?

hi, recently i have been trying to buy a flat in Indrapuram; the rates have increased in this area wihtin last 6 months.
Now as the news about clearance of the noida extension projects has come; the rates have come down as per my analysis.
This is because the flat I was asked to pay 78 lacs for, the owner is now asking for 72 lacs; and I am still not sure whether to buy that ready to move 1600 sqft. Apartment. Moreover the flat is on sale since last 2 months.
So, I feel that I should wait at least for some more months because certainly the prices; which were manipulated primarily in last 6 months in this area; are going to correct for sure in next couple of months.
Any guidance from members will be highly appreciated on this.
Many Thanks.
 
Old August 29 2012, 08:56 PM   #3
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Quote:
Originally Posted by coljohn View Post
hi, recently i have been trying to buy a flat in Indrapuram; the rates have increased in this area wihtin last 6 months.
Now as the news about clearance of the noida extension projects has come; the rates have come down as per my analysis.
This is because the flat I was asked to pay 78 lacs for, the owner is now asking for 72 lacs; and I am still not sure whether to buy that ready to move 1600 sqft. Apartment. Moreover the flat is on sale since last 2 months.
So, I feel that I should wait at least for some more months because certainly the prices; which were manipulated primarily in last 6 months in this area are going to correct for sure in next couple of months.
Any guidance from members will be highly appreciated on this.
Many Thanks.
Haaiii JI Aaisa kya!!
If you are not in Hurry
Follow wait and watch policy
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Old August 29 2012, 09:19 PM   #4
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Haaiii JI Aaisa kya!!
If you are not in Hurry
Follow wait and watch policy
Since friday i am getting regular calls from logix county bop guy and mahagun guy where i enquired earlier. Logix county they mentiond is available at 4200bsp in fresh. Strange a week befor they said nothing is available.
 
Old August 29 2012, 09:21 PM   #5
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Since friday i am getting regular calls from logix county bop guy and mahagun guy where i enquired earlier. Logix county they mentiond is available at 4200bsp in fresh. Strange a week befor they said nothing is available.
you also follow wait & watch policy
 
Old August 29 2012, 09:29 PM   #6
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Indirapuram price was enjoying on NE problem. Pathetic builder floor (on 90 meter plot) was asking 42-45 lac. for 1000 sq ft flat in apartment, 52 lac was the demand. it will come down definitely or would not be sold for next few months.
 
Old August 29 2012, 11:28 PM   #7
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Originally Posted by kalramohit View Post
Since friday i am getting regular calls from logix county bop guy and mahagun guy where i enquired earlier. Logix county they mentiond is available at 4200bsp in fresh. Strange a week befor they said nothing is available.
Actually this is happening everywhere in Noida/GZB, as I said earlier once NE open then it means new supply of 3.5 Lac Flats in same area..... so Investors of Noida/GZB are in hurry now....

BUT, all depends upon new price tag of NE... With the indication it looks that NE is already opened at around 3100-3300 PSF AI and if NE also cleared fully by Supreme Court then new NE Price tag will be around 3500+ PSF minimum.

So finally if NE also goes 3500+ PSF (possession after 4-5 years) then nothing to worry for Noida/Indirapuram at current price tag but if NE remains at current 3100 PSF then yes there will be stagnation in price everywhere in Noida/GZB for next 1-2 year at present price level....
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Old August 30 2012, 07:24 PM   #8
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The rate correction is there can also be deduced from the fact that in one of the societies; where recently people were asking for very high rate (4600 to 4800 ) are now ready to deal on 400 less;
Lets hope that the rates will soon reach a sustainable level.
 
Old August 30 2012, 07:46 PM   #9
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Suddenly, it seems like brokers for Noida extension have joined IREF, posting similar kind of things everywhere. Dude, prices have gone up everywhere in NCR, and not only Indirapuram, in fact prices have appreciated a little less due to lots of new supply in this small area. In gurgaon and Noida prices have run up even faster. In terms of value for money, an area which is so near to Delhi and near to a working metro station commands at least this much price. Only problem is over supply in terms of concretisation, but remember, you will get everything a family person needs - easy (walkable access) to regular grocery stores, sector markets, malls and multiplexes. Also, if you are not a hurry to book, it is always good to wait for a while, as you would always find some good deals like distress sales (People needing money or investors wanting to move out their profits before shelling out for registry). I know several people who have got these deals at almost 20% less than market prices, but the catch is you need to be able to spot these quickly and have some good cash in hand.
 
Old August 30 2012, 07:47 PM   #10
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Quote:
Originally Posted by coljohn View Post
The rate correction is there can also be deduced from the fact that in one of the societies; where recently people were asking for very high rate (4600 to 4800 ) are now ready to deal on 400 less;
Lets hope that the rates will soon reach a sustainable level.
There is no denying the fact that NE enjoys probably the best location advantage as compared to any other area of noida / indirapuram. With things clearing up, I won't be surprised if NE rates come at par with 7x sectors and also many sectors on xpressway. The most important factor is connectivity. I personally believe expressway and 7x sectors are a bit over hyped, the fact is if metro is expanding, its first destination is extention after sec 62 line. Also there is no sign of autos near the above mentioned noida sectors wherein in NE already auto stand has come up at gol chakkar. Thirdly I don't think NE would take 4 - 5 years, pls don't be surprised if the first residents start living within 2 years, builders like gaur, mahagun, stellar, etc are under decent stages of construction. I think the biggest hit wud be for those buyers who had bought flats in these area purely for investment, there won't be many takers and wud result in distress sales.

Indirapuram is already saturated and the unplanned development is its biggest drawback.
 
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