I am working with a PSU having office in Delhi. Looking for a good housing project in Noida (Not Noida Extension) at a reasonable price. There are more than 100 people from my office and another 20-25 people from other office who are waiting since last 8-9 months but not getting the best we are looking for. Most of the people has left the decision on two- three people (I am one of them) to look for the good project.
We three people has analyzed many projects and here are our observation:
Location: We initially preferred the location 75,76,77,78 sectors as it was near to the developed sectors of Noida. However, it has been observed that all these sectors will use the road coming from kalindi kunj via sector 37 to reach Delhi, and this route is very crowded now it self. I don’t what will happen once the new sector of Noida and Noida Extension will get developed. However, I liked various projects for different reasons.
Prateek wisteria: Good location and floor layout but not sure, if they are capable of delivering the project even after two years of delay. The reason for my doubt is relatively new builder, who has not yet deliver any project till date. They have other two big projects in Noida to complete, before this project. Moreover they had good booking (heard from dealers) and have increased their rate recently.
Antriksh Forest: OK Location, OK floor layout (Having big balcony in bigger size flats, though not a great advantage as the carpet area get reduced). Delivered the projects in past but quality is just OK not great. However they have relatively small Project and can complete with a delay of one year. The rates are OK so far. I don’t know about the availability.
Elitz Homes: Location good, floor plan good. Not heard about the builder. Not sure about their capability. In fact the rates are also on higher side.
I am not considering sector 75 project as it is a Township and FSI has been sold to many builders and the delivery capability of Gardenia for such a big project is questionable.
Location: Express way. Never looked at this side, but when we see the huge crowd on the roads leading to sector 75, 76, 77, we thought this to be a good option in future. However, the free access of express way is doubtful. We have seen the sector road parallel to expressway and it is good as the inside sector road of Noida. Some of the projects this side, we considered are as under:
Royal Park: We have seen Silver City Noida and Greater Noida constructed by Purvanchal. Great finishing work and well maintained society. I am sure for one thing that will use good quality material and complete the project in time. Flat layout is good, but the rates are high. More over Sec-137 was not planned earlier as residential sector in master plan of Noida and it has been changed recently by Noida Authority. I have doubts, if Mayawati is not there in next election, such project may face problem.
Logix County: Don’t know much about the builders capability
Paramount: Rates are OK but don’t know about the capability of the builder
Todays Home: Located in slightly developed sector. Layout is just OK. Builder new to Noida, but developed some project in Gurgaon. Rates are OK not very high. Risk is that dealers are not promoting this project and don’t know the booking status.
The other projects nearer to sector 44 are very costly now and we are not considering the same.
Projects in Sector 119,120: There are three projects which are going to be completed in next one to two years like Eldeco Amantran, Amrapli Platinum, Gaur etc also looks ok as the risk is not there. However, I doubt the availability in such a large no. and also the rates may be high.
As we are searching the property since long and I am a regular visitor to this site, I know that there are good no. of people who can help us in selecting the best project suitable for us. I know there are brokers also in this forum, but I don’t mind if they help us in deciding the project of our choice. Our preferred location is still Sector 76, 77 and 78. Some of the builders we are not considering are Supertech, Amrapali and Aditya due to negative feedback on this forum
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  • I dont knwo about co-operative society but i know about a group of friends who did this:

    1. They bought Freehold Land in a Builders Plotted society, so they had parks, community center, Gated community,etc already there..2 plots side by side...Park facing....each approx 200 sq.yards. they build floors on it and then shared the costs. Total 3 Complete appartments were made on each plot and the Barasti area was given on rent so that takes care of some maintenance, etc

    2. Since I dont know them personally so cant tell EXACT total costs but i had calculated that if Land was at 25,000 per sq.yard..which makes the approx cost of One 200 sq. yard approx 50 lakhs. Add to it registry and other charges...it comes to about 60 Lakhs maximum.

    Cost of Construction of a Ground, First and Second Floor and the Barsati comes to maybe 40 Lakhs...

    Total Cost 1 crore (approx) ...3 Well Built appartments in a Builders Plotted area..which means community centre, parks..all made by builder...and a barsati to rent out....to take care of maintenance.

    Cost per appartment...35 Lakhs..all inclusive...for a super area appartment of close to 1700-1800 square feet...
    The complete plot would have been ready in 6 months i guess

    I found this to be very clever...I repeat..I have no idea how much it actually costed them but this calculation of mine should be close...

    Just sharing...as people are talking about other options..
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  • Originally Posted by zohaib
    I dont knwo about co-operative society but i know about a group of friends who did this:

    1. They bought Freehold Land in a Builders Plotted society, so they had parks, community center, Gated community,etc already there..2 plots side by side...Park facing....each approx 200 sq.yards. they build floors on it and then shared the costs. Total 3 Complete appartments were made on each plot and the Barasti area was given on rent so that takes care of some maintenance, etc

    2. Since I dont know them personally so cant tell EXACT total costs but i had calculated that if Land was at 25,000 per sq.yard..which makes the approx cost of One 200 sq. yard approx 50 lakhs. Add to it registry and other charges...it comes to about 60 Lakhs maximum.

    Cost of Construction of a Ground, First and Second Floor and the Barsati comes to maybe 40 Lakhs...

    Total Cost 1 crore (approx) ...3 Well Built appartments in a Builders Plotted area..which means community centre, parks..all made by builder...and a barsati to rent out....to take care of maintenance.

    Cost per appartment...35 Lakhs..all inclusive...for a super area appartment of close to 1700-1800 square feet...
    The complete plot would have been ready in 6 months i guess

    I found this to be very clever...I repeat..I have no idea how much it actually costed them but this calculation of mine should be close...

    Just sharing...as people are talking about other options..



    Thanks Zohaib, for your calculation actually the idea behind cooperative society is same, to have good well build apartment available to the member at convenient rate, and also with the convenient payment plan.

    P.S. I am getting good replies, and If I mange to get some more people then I am planing to have a meeting on this weekend.
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  • Originally Posted by zohaib
    I dont knwo about co-operative society but i know about a group of friends who did this:

    1. They bought Freehold Land in a Builders Plotted society, so they had parks, community center, Gated community,etc already there..2 plots side by side...Park facing....each approx 200 sq.yards. they build floors on it and then shared the costs. Total 3 Complete appartments were made on each plot and the Barasti area was given on rent so that takes care of some maintenance, etc

    2. Since I dont know them personally so cant tell EXACT total costs but i had calculated that if Land was at 25,000 per sq.yard..which makes the approx cost of One 200 sq. yard approx 50 lakhs. Add to it registry and other charges...it comes to about 60 Lakhs maximum.

    Cost of Construction of a Ground, First and Second Floor and the Barsati comes to maybe 40 Lakhs...

    Total Cost 1 crore (approx) ...3 Well Built appartments in a Builders Plotted area..which means community centre, parks..all made by builder...and a barsati to rent out....to take care of maintenance.

    Cost per appartment...35 Lakhs..all inclusive...for a super area appartment of close to 1700-1800 square feet...
    The complete plot would have been ready in 6 months i guess

    I found this to be very clever...I repeat..I have no idea how much it actually costed them but this calculation of mine should be close...

    Just sharing...as people are talking about other options..


    25K per sq yard - that is land at dirt cheap prices. Must be greater noida. No builder would give out land within a gated complex at those prices in noida sectors. That would be a steal. If you can get land at those prices, construction (whether you get partners or not) would be an easy thing.
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  • Hi DkMCA,

    2800 psf for 4th floor is a good deal.
    But if in a group we can get further discount .
    You can join us,so that we can bargain more.
    you can drop me an email nitinkt at rediffmail.com
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  • Hey

    There is a good option of Max Royal Sector 76 Noida
    Just adjacent to amrapali silicon city

    many corporated have already booked

    Construction is already started
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  • Originally Posted by capreal26
    25K per sq yard - that is land at dirt cheap prices. Must be greater noida. No builder would give out land within a gated complex at those prices in noida sectors. That would be a steal. If you can get land at those prices, construction (whether you get partners or not) would be an easy thing.


    Hei Friend

    Noida has leasehold property so this is not possible anyways..or maybe some sectors are freehold..i dont know...Greater Noida too has maybe 1,2 only which are freehold..rest all leasehold..This was in Ghaziabad i think so.
    But similar trends are common in Ghaziabad and Haryana also.

    I was just sharing what i know people are doing in real estate to be safest, and ensure best construction..and also get good prices.

    Such smart ideas ensure...Best layouts, best quality and best features as well value for money. Options for freehold land is limited..but an option is there...just highligted that
    And if one is so concerned about a club house...you can get Lifetime club membership in the nearest Posh club with all facilities thrown in..which you will never get in a residential club for about 5-8 lakhs...

    Also if one gets 200 sq.yard plot for 50,000 per square yard of freehold land and spends 50 lakhs on construction...total would be 1.5 crores..which is 50 lakhs per appartment for a 1800 super area sq.feet appartment...
    and a barsati to rent out to take care of maintenance

    And regd security..which is always an issue in plots...my cousin just got his bunglaw wired for electronic surveillance and security system for just 1.5 lakhs...the security features he has will never be given by any builder

    Isnt that good ????? I find it real smart

    All the people on these forums are worried about quality..whether the appartment will b complete or not...changes in master plan..etc etc etc...

    I see all these issues solved by such a smart move by end user..

    Its a good option..if one can get the choice of freehold land and 2,3 friends to pool in...
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  • Originally Posted by seekadvise
    Dear Ashsish,

    The idea of co operative society is good. In fact we have been trying for co operative society initially. But when we contacted the builders for purchase of FSI, every body wants the Cash money (Read Black Money) over and above the Noida Authority rate. As managing huge cash is a problem, we dropped this idea.

    We have been approached by one of the co operative soceity, who are ready to take the FSI and build the house for us. We have worked out this options also and we are getting all inclusive construction linked rate of Rs. 2600 in sector-78. The rates seems to be attrective, but I am not able to diffrentiate between builder and this perticular society.

    Any one having the experience with dealing such co operative society may pl. guide.



    Sorry I missed your post.

    As my philosophy goes one should not consider the difference between the rate, if you get a apartment build as part of a society then you are guaranteed about the quality and the ease of payment. I think its a good idea to discuss this option as well... but one needs to be very serious.. as i mentioned earlier I am ready to take the pain of leading the project but I would be expecting seriousness from your side. I am planning to have a meeting this weekend if you could devote sometime then it would be of much help to both of us.
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  • An external opinion...

    http://www.r2iclubforums.com/forums/showthread.php/14767-The-real-state-of-real-estate-in-India

    Hi Guys, please have a look at the above mentioned Site, it seems the person is a very serious thinker...

    please share your thoughts on his calculation.....
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  • Originally Posted by ashish.gupta
    Sorry I missed your post.

    As my philosophy goes one should not consider the difference between the rate, if you get a apartment build as part of a society then you are guaranteed about the quality and the ease of payment. I think its a good idea to discuss this option as well... but one needs to be very serious.. as i mentioned earlier I am ready to take the pain of leading the project but I would be expecting seriousness from your side. I am planning to have a meeting this weekend if you could devote sometime then it would be of much help to both of us.


    What you are claiming is bit difficult. Tell us more about you and your experience with real estate and knowledge about government clearence and other detail.

    People might trust you if you are a senior employee of any big real estate developer have executed projects and know how to move files in governemnt office and project execution.

    Are you an architect or structural engineer have designed any of mid size projects ?

    It's easy to build a 3 story building on 200 sqrd plot and we don't need much expertise but constructiing a building of 10 floor need detail kowledge and experience.
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  • Some calculations...

    One do start at a point, and to be very open this will be my start point. But given you have enough minds to share thoughts.. things will be clear. "Kaun kahta hai aasma nahi jhukta... zara ek pathar uthake tabiyat se feke to yaaron"


    I was doing a calculation for a 150 peoples society... and I came up with these details...

    a flat with 1600 sq feet area and assuming 20 floor (government has put no bar on the height of the building) building would need an area of around 12000 SQ Feet, as base area. (1600 * 150 / 20).

    Given government allows only 40% or area to be covered we need 30000 sq feet plot area.

    This in sq meter comes out to be nearly 2793 SqMeter, assuming it to be 3000 SQ Meter.

    if rate of land in noida are around 35k per sq meter(government rate in sector 76 is nearly 24k per sq meter) total cost of plot is 10 Crore, 50 Lakhs. Lets assume we put 10crore as the construction cost then total cost for 150 flats will be nearly 20crore, to a higher I am assuming it to be coming our to 25crore.


    Now the actual cost per head would be 25crore/150 comes out to be nearly 16.6 lakh.

    Now guys correct me If I would have made some wrong calculation.


    Now I am quite sure that we people are smart enough to shelve around 20lakh for such a dream house, the extra amount of 4 lakh per head and in total (4 lakh * 150) 6 crore could be used for bribe and other nonsense in the system.


    To me its simple maths, guys please help me out if I am making some fancy calculations...
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  • Originally Posted by ashish.gupta
    One do start at a point, and to be very open this will be my start point. But given you have enough minds to share thoughts.. things will be clear. "Kaun kahta hai aasma nahi jhukta... zara ek pathar uthake tabiyat se feke to yaaron"


    I was doing a calculation for a 150 peoples society... and I came up with these details...

    a flat with 1600 sq feet area and assuming 20 floor (government has put no bar on the height of the building) building would need an area of around 12000 SQ Feet, as base area. (1600 * 150 / 20).

    Given government allows only 40% or area to be covered we need 30000 sq feet plot area.

    This in sq meter comes out to be nearly 2793 SqMeter, assuming it to be 3000 SQ Meter.

    if rate of land in noida are around 35k per sq meter(government rate in sector 76 is nearly 24k per sq meter) total cost of plot is 10 Crore, 50 Lakhs. Lets assume we put 10crore as the construction cost then total cost for 150 flats will be nearly 20crore, to a higher I am assuming it to be coming our to 25crore.


    Now the actual cost per head would be 25crore/150 comes out to be nearly 16.6 lakh.

    Now guys correct me If I would have made some wrong calculation.


    Now I am quite sure that we people are smart enough to shelve around 20lakh for such a dream house, the extra amount of 4 lakh per head and in total (4 lakh * 150) 6 crore could be used for bribe and other nonsense in the system.


    To me its simple maths, guys please help me out if I am making some fancy calculations...

    Hi ashish,
    Pls count me in,
    but tell me 1 thing where r u planning to build the flats... coz this is vital, coz some person prefer E-way some sector 70-78 , here all have diff thinking..
    pls make it clear the location...
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  • Originally Posted by ashish.gupta
    One do start at a point, and to be very open this will be my start point. But given you have enough minds to share thoughts.. things will be clear. "Kaun kahta hai aasma nahi jhukta... zara ek pathar uthake tabiyat se feke to yaaron"


    I was doing a calculation for a 150 peoples society... and I came up with these details...

    a flat with 1600 sq feet area and assuming 20 floor (government has put no bar on the height of the building) building would need an area of around 12000 SQ Feet, as base area. (1600 * 150 / 20).

    Given government allows only 40% or area to be covered we need 30000 sq feet plot area.

    This in sq meter comes out to be nearly 2793 SqMeter, assuming it to be 3000 SQ Meter.

    if rate of land in noida are around 35k per sq meter(government rate in sector 76 is nearly 24k per sq meter) total cost of plot is 10 Crore, 50 Lakhs. Lets assume we put 10crore as the construction cost then total cost for 150 flats will be nearly 20crore, to a higher I am assuming it to be coming our to 25crore.


    Now the actual cost per head would be 25crore/150 comes out to be nearly 16.6 lakh.

    Now guys correct me If I would have made some wrong calculation.


    Now I am quite sure that we people are smart enough to shelve around 20lakh for such a dream house, the extra amount of 4 lakh per head and in total (4 lakh * 150) 6 crore could be used for bribe and other nonsense in the system.


    To me its simple maths, guys please help me out if I am making some fancy calculations...


    Ashish,

    Not sure about land costs, but a good construction costs atleast 1000 Rs Per Square Feet - and even if you take into account just the carpet area (of 1600 sq ft) and leave out atleast 15% loading (dont think you can reduce it much lower to have spacious common areas), your carpet area cost of construction for 150 flats would be 24 Crores. Add all the common amenities, etc.
    Builders can reduce this cost since they operate on scale. Contractor wont reduce his prices for a 150 unit contract.

    My 2 cents. Corrections invited.
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  • Originally Posted by ashish.gupta
    One do start at a point, and to be very open this will be my start point. But given you have enough minds to share thoughts.. things will be clear. "Kaun kahta hai aasma nahi jhukta... zara ek pathar uthake tabiyat se feke to yaaron"


    I was doing a calculation for a 150 peoples society... and I came up with these details...

    a flat with 1600 sq feet area and assuming 20 floor (government has put no bar on the height of the building) building would need an area of around 12000 SQ Feet, as base area. (1600 * 150 / 20).

    Given government allows only 40% or area to be covered we need 30000 sq feet plot area.

    This in sq meter comes out to be nearly 2793 SqMeter, assuming it to be 3000 SQ Meter.

    if rate of land in noida are around 35k per sq meter(government rate in sector 76 is nearly 24k per sq meter) total cost of plot is 10 Crore, 50 Lakhs. Lets assume we put 10crore as the construction cost then total cost for 150 flats will be nearly 20crore, to a higher I am assuming it to be coming our to 25crore.


    Now the actual cost per head would be 25crore/150 comes out to be nearly 16.6 lakh.

    Now guys correct me If I would have made some wrong calculation.


    Now I am quite sure that we people are smart enough to shelve around 20lakh for such a dream house, the extra amount of 4 lakh per head and in total (4 lakh * 150) 6 crore could be used for bribe and other nonsense in the system.


    To me its simple maths, guys please help me out if I am making some fancy calculations...




    Dear Guptaji

    According to ur calculations 200 flats of size 1600 sq ft per acre (1 acre =4048 sq m). How funny is it?
    Where is the calculation of common space? I mean Duct, Staircase, Lifts etc etc.
    150 flats means atleast 1.5 X 150 =225 cars.
    How much area it is required for parking.
    What about open space (Park, Play ground etc.)
    and other facilities?
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  • co-op society

    Let me give you all a better idea about this concept as I am already a member of such society in Hyderabad.

    The society is a group of approx 600 people and same number of flats with 11 acres area. Apart from land cost, we gave it to a builder (very reputed sub-contractor) to build apartments at a cost of 1700/- per sqft (inclusive car parking, high quality material and specifications, club house etc).

    Yes, we need some experienced guys (need not to be working in real estate) whom all people can trust. Also, it takes sufficient time to get the approval from authorities like high-rise build, airport authority clearance, fire clearance etc.

    There may be some case of money laundering as well (as it happened in our case when the leader of the group ran away with lot of money (which was given for land purcahse) and it took about a year to clear things ).

    But, end of day if all people take some sort of responsibility, one can get a good quality flat at a cheap rate (30-40%).


    Thanks,
    Amit
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  • that seems about right. if you are constructing yourself you will save around 30% as there is no builder in between who is in it for the profits. but its not easy and it will take time and a group of people who can trust each other and ready to take responsibility. if you are ready to take that much headache and find a group of similar thinking people, you can certainly go for it. but it will require a lot of planning and meeting with people. that's why these kind of societies generally happen in PSUs and govt offices. as they have time to do all the planning and contacts to get all the clearances cheaply and fast. a new person can not do this fast and cheaply. and anyone working in a private company can just forget about it. we only have weekends free and no govt offices are open then. how many people working in private companies will be willing to take leave to go to govt offices and try for clearances and all the other things that come with it. there is a reason why builder earn the money they do. they bribe everyone and know everyone to get the clearances and permits and lands.
    Originally Posted by var_amit
    Let me give you all a better idea about this concept as I am already a member of such society in Hyderabad.

    The society is a group of approx 600 people and same number of flats with 11 acres area. Apart from land cost, we gave it to a builder (very reputed sub-contractor) to build apartments at a cost of 1700/- per sqft (inclusive car parking, high quality material and specifications, club house etc).

    Yes, we need some experienced guys (need not to be working in real estate) whom all people can trust. Also, it takes sufficient time to get the approval from authorities like high-rise build, airport authority clearance, fire clearance etc.

    There may be some case of money laundering as well (as it happened in our case when the leader of the group ran away with lot of money (which was given for land purcahse) and it took about a year to clear things ).

    But, end of day if all people take some sort of responsibility, one can get a good quality flat at a cheap rate (30-40%).


    Thanks,
    Amit
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