HOUSING PROJECTS After the land row in Greater Noida, developers in Ghaziabad are witnessing a sudden surge in demand. There is 40% to 50% rise in inquiries and bookings after the G Noida land row. Raj Nagar Extn. Developers' Association has decided to raise cost by Rs 200 per sq m.

Now, even our top floor flat sales have doubled up. Earlier, these were sold at 5% to 6% discount.

The private developers' housing projects at Raj Nagar Extension and Crossings Republik in Ghaziabad seem to have picked up demand after the recent land acquisition fiasco in Greater Noida.

The Ghaziabad developers have indicated a rise in inquiries, bookings and cost of flats as potential buyers have turned to Ghaziabad in search of safe and affordable housing options.

The developers said that the positive momentum towards Ghaziabad projects was due to its nearness to Noida Extension and availability of `ready to move in' flats, as most of the projects in the two areas are on final stages of completion.

“We have experienced around 40% to 50% increase in inquiries and bookings after the Greater Noida land row. Even Raj Nagar Extension Developers' Association has decided to increase cost by R200 per square metre,“ said Tanuj Goel, executive director, KDP Infrastructure Private Limited, having projects at Raj Nagar Extension.

Even developers at Crossings' Republik were buoyed after the incidents at Noida Extension. “There was a low demand for the past two years. Now, even our top floor flat sales have doubled up. Earlier, these were sold at 5% to 6% discount,“ said Sanjeev Kumar Singh, marketing manager at a developers' firm in Crossings Republik.

Crossings' is one of the seven integrated-city projects of the Uttar Pradesh government, developed by private developers along the NH-24 area, adjacent to Noida Extension. The flats' prices at Crossings' projects range from R25 lakh to R70 lakh.

Similarly, the private developers came up in Raj Nagar Extension near NH-58 and offer different affordable flats at a price band of R14 lakh to R40 lakh. The development at both the locations started around three years back. “Out of the pending 152 flats, we now have only eight left in our project,“ said Anil Dubey, marketing manager from another developer at Crossings.

Rohit Raj Modi, director, Ashiana Homes Private Limited, having projects at Raj Nagar Extension and also on NH-24, said that there was 30% to 35% increase in site visits and the cost of flats have gone up by 15%.

“The rise in costs cannot be attributed only to the land row in Greater Noida and Noida Extension. Costs have also gone up due to rise in labour costs, commodity prices and construction loans,“ Modi added.

However, the developers still feel that widening of NH-24 would be a major worry as city's two hi-tech cities and seven integrated-city projects were developed over NH-24 areas.

“We had approved the funds for widening of NH-24. But, to our knowledge, the widening process is presently stalled,“ said Narendra Kumar Chaudhary, vice-chairman, Ghaziabad Development Authority.

Chaudhary also termed the Ghaziabad projects as `safe' as the private developers purchased land directly from farmers. “The projects here are quite safe,“ he added.
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  • Good news for existing investors. :)

    BTW is the price hike 200 psqm or 200 psqft ?

    I guess Mr. Tanuj Goel of KDP is referring to land rates?
    CommentQuote
  • Originally Posted by dceite
    Good news for existing investors. :)

    BTW is the price hike 200 psqm or 200 psqft ?

    I guess Mr. Tanuj Goel of KDP is referring to land rates?


    It is Rs. 200 per sq feet & it is for apartments not for land. I had personally spoken to Mr. Tanuj Goyal a week before. From 1st august price in KDP first phase will be 2150 PSF.
    CommentQuote
  • Increase in CR rates is Safed Jhuth

    Increase in CR rates is Safed Jhuth
    I am observing the rates of CR area from last few months, as I was planning to buy a house in Noida/Gajayiabaad. I checked 30th July pricess for CR on 99 Acre , and they are same in 1900 to 2200 PSF range. This news is being spread buy builders, and just an example of Bahti Ganga men haath Dhona. This news was obviously a paid news, having statements of only builders and dealers. Builder ke site pe likh dene se waise bhi kuch nahi hota, real deal kitne men ho rahi hai ye matter karta hai. See below
    examples
    ---------------------------------


    2 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    Residential apartment 2 bhk in crossing republic nh-24 6km from shipra mall available for sale rs 21 lacs (complete package with covered parking)
    Dealer: Arvind Rathi | Shivani Associates

    : 9810817208,9868801692
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    Rs. 21 Lac(s) (1900 /sq.ft)
    2 Bedrooms
    Built-up Area: 1105 Sq.Ft.


    3 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    All inclusive price , ready to move flats, all facilities, covered car parking, power back up, clu global city with golf course, hospitals, malls, ...
    Dealer: mukul | VANSH HOMES

    : 7503001976,9953803081
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    Rs. 36.6 Lac(s) (2122 /sq.ft)
    3 Bedrooms
    Built-up Area: 1725 Sq.Ft.



    2 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    Specifications... structure... • design for seismic zone iv earthquake resistant rcc frame structure.... Internal finish... • all internal wall...
    Dealer: Pawan Sirohi | Gaurav Associates

    : 9911114444, 9873922909, 9911114242
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    Rs. 25.5 Lac(s) (2065 /sq.ft)
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    Built-up Area: 1235 Sq.Ft. http://www.99acres.com/do/quicksearch/search#">
    Map View.






    3 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    3bhk 1725sq.Ft. 2nd floor park fassing, caverd car parking crossings republik offers ready to move 2, 3 & 4 bhk bedroom apartments. Enclosed in a g...
    Dealer: Vivek Kumar, Mr. Novil Kumar | new world associates

    : 9891150344,9312624418
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    Rs. 38.82 Lac(s) (2250 /sq.ft)
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    Built-up Area: 1725 Sq.Ft. http://www.99acres.com/do/quicksearch/search#">
    Map View.






    2 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    All inclusive price , ready to move flats, all facilities, covered car parking, power back up, clu global city with golf course, hospitals, malls, ...
    Dealer: mukul | VANSH HOMES

    : 7503001976,9953803081
    Get Alerts on Similar Properties

    Send to My
    Rs. 28.5 Lac(s) (2244 /sq.ft)
    2 Bedrooms
    Built-up Area: 1270 Sq.Ft.




    2 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    Residential flat in crossing republic 2 bhk available for sale on 4nd floor for rs. 28.50 lacs
    Dealer: Arvind Rathi | Shivani Associates

    : 9810817208,9868801692
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    Rs. 28.5 Lac(s) (2244 /sq.ft)
    2 Bedrooms
    Built-up Area: 1270 Sq.Ft.



    2 Bedroom, Residential Apartment in Crossing Republik Jul 30, 2011



    All inclusive price , ready to move flats, all facilities, covered car parking, power back up, clu global city with golf course, hospitals, malls, ...
    Dealer: mukul | VANSH HOMES

    : 7503001976,9953803081
    Get Alerts on Similar Properties

    Send to My
    Rs. 26.6 Lac(s) (2094 /sq.ft)
    2 Bedrooms
    Built-up Area: 1270 Sq.Ft.



    2 Bedroom, Residential Apartment in Crossing Republik Jul 29, 2011



    Residential apartment in crossing republik at 23lac
    Dealer: Ajay Raj Choudhary | Sai Properties

    : 9811669471
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    Rs. 23 Lac(s) (2000 /sq.ft)
    2 Bedrooms
    Built-up Area: 1150 Sq.Ft.



    3 Bedroom, Residential Apartment in NH-24 Highway Jul 29, 2011
    CommentQuote
  • Bhai sahab property 99 Acre per nahi kareedi ja sakte hai. Better to go there and analyze actual conditions right now. 99 Acre par to Taj Mahal bhi discount ke sath 10 Lac mai List Kiya ja sakta hai. 99 Acre mai advertisement hota hai new buyers (Murge) phasane ke liya, and ground reality can be found after visiting the actual area. 99 Acre mai to bhoot se Delhi / Noida area ke flat bhi dhik jayege 30Lac se kam mai 2BHK, Bhai sahab actual mai milte hai kya.:D :D :D
    CommentQuote