House Prices Shoot Up As Buyers Tire Of Noida Land Rows


Ghaziabad: Older and more populous than Noida,Ghaziabad has lived in the shadow of its high-profile southeasterly neighbour throughout the recent boom years.Thanks to its association with Noida even if only in name even the farflung Noida Extension area was able to command a premium in terms of property prices,relative to many parts of Ghaziabad.

However,with the recent controversies surrounding land acquisition in Noida Extension,and the Supreme Courts order of Wednesday reverting acquired land to the residents of a village there,Ghaziabad finally seems on the ascendant on the real estate map.

While homebuyers have suddenly become wary of investing in the Noida Extension-Greater Noida belt,house prices in Ghaziabad are on an upswing,with middle-income buyers looking upon the area as a safe bet.There has been a scramble for booking flats in the Indirapuram and Rajnagar Extension areas of Ghaziabad.Fed up with land acquisition rows delaying projects in Noida Extension,people are now shifting here, said an official of the Rajnagar Extension Builders Association (REBA).Consequently,property prices have gone up by 10-15 per cent in the last few months.

Builders say both inquiries and bookings for flats have increased since the land acquisition controversy erupted in Noida Extension.For the last three months,we have been getting more than 20 enquiries a day and booking more than two flats every week, said a property agent,Ashok Chaudhury,in Rajnagar Extension.

An ordinary two-bedroom-hall-kitchen (BHK) flat that would have cost Rs 15 lakh to Rs 25 lakh now costs Rs 18 lakh to Rs 30 lakh here, said the marketing head of a developer in Ghaziabad.More than 55,000 flats are scheduled to come up in Ghaziabad in the next 10 years,with roughly 5,000 of them in the upmarket Indirapuram area that lies close by Delhi.

At present,32 housing projects accounting for 16,000 flats are coming up in Rajnagar Extension.As part of its commercial development plan,the region is set to have a special economic zone (SEZ),a golf course and a national stadium in the next few years, said the marketing head of a construction firm,Rohit Dagar.

Ironically,it is the lack of government intervention in land acquisition deals that has kept Ghaziabad free from controversies of the kind now snowballing in Noida Extension.The biggest selling point of Ghaziabad over Noida Extension is that most of the land in the former including the entire Rajnagar Extension area is freehold land.Builders have bought it directly from farmers and villagers, said REBA president KK Goyal.You are the owner of your land once you buy it here,whereas in Noida Extension you hold lease rights over land for more than 90 years, he added.

The entire 5,000 acres of land marked for development by the Ghaziabad Development Authority (GDA) in Rajnagar Extension is free-hold.Builders have bought land by making upfront payments to farmers and villagers without the intervention of the GDA, said Goyal.

In Noida Extension,land is first acquired by the authorities,who then give it to builders on a lease.This has sown the seeds of confrontation as farmers,whose land is acquired,invariably protest that they have been shortchanged out of their property

WHY GHAZIABAD SCORES OVER NOIDA EXTENSION


FREEHOLD

land as compared to leasehold land in Noida

EASY ACCESS

to Delhi,Noida

24-HR BACKUP

in most housing societies Ganga Jal Pariyojana to meet water demand Medical facilities with several hospitals in vicinity 16,000 flats in various stages of completion 55,000 flats to come up in next few years Flats in 1/2/3/4 BHK categories cater to all income groups Flats priced between Rs 18 lakh and Rs 1 crore 5000 acres for development in Rajnagar Extension area 2000 acres for residential purpose 3000 acres for commercial purposes 48 new projects in the pipeline.

-TOI
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  • GZB it's not good for the soul. Higher FAR's (50% more than NOIDA) just make for more crowded societies and stressed infrastructure.
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  • Originally Posted by madgeek
    GZB it's not good for the soul. Higher FAR's (50% more than NOIDA) just make for more crowded societies and stressed infrastructure.


    That might be true for Crossings but not RNE.
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  • Originally Posted by Mogammo
    You are the victim of SICK psychology nothing else. FAR in RNE GZB is much lower than NE & N-Eway because due to HINDON AIRPORT maximum 8 to 13 floors are approved in RNE in all the societies however in NE and all upcoming Noida areas maximum floors approved are from 19 to 30. Check the facts FAR in RNE is just half then NE / N-Eway. All the 15 delivered societies till date in RNE have maximum 8 to 13 floors (confirmed) and have much more open area then any other locations.


    Apart from FAR, RNE is better than Noida, Noida Extn, due to proximity to delhi, Down to earth people, facilities with regards to value for money not only real estate but daily needs. Schools, Roads, Hospitals, Railway station, Bus adda, shared autos everything is in gbd but only one thing is missing Marketting of GBD from BMW Lobby.
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  • Originally Posted by dceite
    That might be true for Crossings but not RNE.


    Why will there be different rules for different parts of Ghaziabad?
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  • Originally Posted by mohanpruthi
    Apart from FAR, RNE is better than Noida, Noida Extn, due to proximity to delhi, Down to earth people, facilities with regards to value for money not only real estate but daily needs. Schools, Roads, Hospitals, Railway station, Bus adda, shared autos everything is in gbd but only one thing is missing Marketting of GBD from BMW Lobby.


    Yet. Prices are higher in Noida. Logic dictates, something must be up.
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  • Originally Posted by Mogammo
    For most of guys Quality of LIFE means only appreciation of money, again same SICK psychology. RNE GZB was started to develop just 3 years before and at this time 1 of the most costly & really GEM public school GD Goyanka is running with in the campus of RNE ie ZERO KM, other public schools like DPS , RYAN International and 10 more are just 3 to 6 KM far from RNE and school busses pass with in the campus of RNE.

    If giving returns is the only criteria to judge any location then read below thread and Newspaper news seriously & fully and then judge youself which area in NCR give highest return during last 1 years.

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/ghaziabad-real-estate/16818-huge-rise-in-gzb-property-rates-90-m-plots-in-100-lac?t=19003

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/ghaziabad-real-estate/16541-vasundhara-gzb-seeing-a-rise-value-for-money-ht?t=18769

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/ghaziabad-real-estate/16641-big-land-deal-in-vasundhara-gzb-1-21-500-psm?t=18879



    Don't take these things personally, unless it is affecting your business. Your use of CAPS and green colour is very disturbing.

    Indirapuram (part of GZB AFAIK) has been around for donkey's years and so have Vaishali etc (so much for your 3 years argument).

    I think there are half a dozen prominent schools (functional and upcoming) in the Noida Expressway region. This is when people haven't even started living there in any meaningful way Sec 93, 82 apart)

    As to quality of life... We shall see.

    And finally, prices in Noida. ah well. best you find out yourself.

    Anyway, lets dump the inconvenient facts for a minute and do a thought experiment.

    Let's say you had 1 crore in the bank. Where would you buy a flat/house? Noida or GZB?
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  • Originally Posted by madgeek

    Let's say you had 1 crore in the bank. Where would you buy a flat/house? Noida or GZB?


    None. In Gurgaon.

    If i had 20 Lac, it would be RNE (and not Noida ExTENSION)
    If i had 35 lac, it would be noida expressway (with fingers crossed) - as my office is shifting to Noida Expressway
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  • its noida forum, why you are not having this discussion in GZB forum. Here it appears that Mogammo is trying to make fun of the issue. People here come to see facts....not for Joke's.
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  • True. avoid him. He is promoting RNE in NOIDA Forum.
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  • Originally Posted by Pradeep76
    its noida forum, why you are not having this discussion in GZB forum. Here it appears that Mogammo is trying to make fun of the issue. People here come to see facts....not for Joke's.


    I tell you the reason why.

    The Noida Forum was and is filled with investors and middle income buyers who were looking primarily Projects in Noida Extension (Though ironically Noda Extension is Greater Noida, and Noida).

    Now the same middle income buyers would need an alternative, given thie debacle. Thats why the sister city of Ghaziabad having flats at almost same rates but with much more peace of mind and infrastrutcture in RNE, would make a lot of sens for buyers.

    Whats the harm in discussing this?

    And its not about one person promoting RNE.
    Its a comparison report published in a respected national newspaper.
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  • There is no harm in few replies of any city of NCR in any other city forum

    Cool guys, there is no harm in discussing any city of NCR in any forum because all are mainly represent same area NCR and all cities are hardly 1 to 35 KM (max) far with each other. ADMIN himself can ban such discussion if find completely out of his defined rules. ADMIN can also shift any thread to other city forum if find that thread is not related to corresponding city. Check today Times of India newspaper this comparison article or NE-RNE is published in the middle of Noida Extension Problem (Same page), So will all of these forum guys will also say to Times of India that do not publish this??

    Only brokers of few areas may have problems while discussing anything about GZB , FDB , GN , Manesar in NOIDA/GGN forums, but such discussion is always useful for lots of END USERS for whom this forum is actually promoted. Not a single HARM with such discussions.
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  • Originally Posted by Mogammo
    Good and sensible reply by dceite for an IT Professional + Family POV, 100% agree. But preference may be change if person who is purchasing home is not an IT Professional (like me).

    In my family members, job area is mainly Lawers / CA . Hence for my family, locations near to India Gate / Karkarduma Court / Tees Hajari Court / ITO / GZB Rajnagar is more better than GGN or NOIDA because nothing to taken from IT jobs for me. So for me GZB Vaishali is one of the best place of LIVE, and if I have 100 Lac cash then with such amount I will definitely want to prefer to buy a Good Society Pentahouse in Vaishali GZB and all the Job/Work location of my every family member will be with in 5 to 12 KM Reach and can also use Metro whenever we need.


    This is right that for any LAWERS / CA professionals Vaishali GZB is one of the best location in whole NCR at it rate because each & every Delhi/GZB Court and all Income TAX Offices are with in 10 to 25 minutes CAR/Metro drive far. But dear now Vaishali GZB is not as cheap that you can get Good Society Pentahouse in Vaishali GZB even in 100 Lac. Check now, rates has been appreciated rocket high in Vaishali GZB during last 1 year. With 1 caror cash You can maximum get only Luxury/Specious 3 BHK or 4 BHK of less then 2000 SF in any Good Society of Vaishali GZB.
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