The Supreme Court’s verdict upholding the denotification of 156 hectares of land allotted for residential development to developers in Greater NOIDA has come as a blessing in disguise for realty majors including Unitech and Parsvnath, which are seeing upswing in enquiries since trouble began in this area in May this year.

Unitech and Parsvnath, which do not have projects in NOIDA Extension, have seen sales and enquiries rising for their projects in adjoining areas as buyers are now scouting for options elsewhere. It has come as a handy opportunity for Unitech - whose budget brand Unihomes is offering products at a higher range than NOIDA Extension.

In the last one-and-a-half years, NOIDA Extension had emerged as a hot-selling area especially since the dwelling units were being offered at prices as low as Rs2,000 a square feet. Spread across over 2,000 acres, at least 40 builders are developing one lakh units in the area.

Tide, however, turned when SC upheld the Allahabad high court’s May judgment denotifying land taken from ryots by the Greater Noida Authority invoking urgency clause - thereby divesting them of rights of being heard during acquisition.

A Unitech spokesperson said, “With specific reference to Unihomes in NOIDA, in the last few days, the customer queries for Unihomes has increased almost five times and the query translation into sales is expected to be strong.” The price in Unihomes is almost 10-20% higher than those at NOIDA extension.

Parsvnath Developers, another North-based developer active in the National Capital Region (NCR), too, is experiencing changing priorities of consumers.

“For the buyers, it’s like once bitten twice shy. People as of now are stressing on clear titles and clean land record before investing,” said a Parsvnath official. The realtor is developing three projects in Ghaziabad. It has completed the structure of Regalia and Sterling, while bookings are still going on in Exotica, where 1,500 units are being offered.

Manoj Misra, MD, Augtics Services, a real estate research firm, said, “The investors have definitely pulled out from NOIDA Extension. End users are looking for options in Ghaziabad and NOIDA and the NOIDA expressways. This is likely to help Unitech, Parsvnath, and Jaypee.”
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  • How Parsavnath is going to get benefit? I don't see any project in this area. Moreover, It has very BAD :bab (45):reputation in the market too.
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  • Very stupid article - guys please don't fall in the dreams of Unitech and Parsvanath. Unitech is in deep trouble due to 2G spectrum case and their top maagers are in jail. Now, their priority will be getting released first and getting their name cleared rathe rthan your project. Most of the banks would hesitate to give loans to Unitech and their ability to complete any project will diminish.
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  • Article says about there three projects in Ghaziabad(Regalia,Sterling and exotica)

    Regalia is sold out,exotica is FDI(Sun apollo) backed.

    Yea,they have a very bad repo in mkt and all the three projects are way behind schedule.
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  • Despite that, they are launching project after project in Gurgaon and still carry premium. Unitech has Goodwill in Gurgaon. And nothing has happened even after 2G Scam. Unihomes I have seen in Noida and phase-I is soon to be ready for possession maximum in one year Time.
    Originally Posted by harshogle
    Very stupid article - guys please don't fall in the dreams of Unitech and Parsvanath. Unitech is in deep trouble due to 2G spectrum case and their top maagers are in jail. Now, their priority will be getting released first and getting their name cleared rathe rthan your project. Most of the banks would hesitate to give loans to Unitech and their ability to complete any project will diminish.
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  • Originally Posted by harshogle
    Very stupid article - guys please don't fall in the dreams of Unitech and Parsvanath. Unitech is in deep trouble due to 2G spectrum case and their top maagers are in jail. Now, their priority will be getting released first and getting their name cleared rathe rthan your project. Most of the banks would hesitate to give loans to Unitech and their ability to complete any project will diminish.

    Don't link the two companies, they are two independent entities. Unitech has a very good reputation in Gurgaon and work is in progress on all their projects.
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  • another paid article....
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  • Dude, Indian real estate market is non-transparent. My biggest grouse against this paid article is that the target segments for Noida extension buyers and Unitech homes are very different and the article seems to suggest that Noida extension buyers will flock to Unitech.

    I know Parsvnath and Unitech are different companies and Unitech is in trouble due to 2G scam and Parsvnath due to liquidity problems.


    Why do you want to pay a premium when the underlying fundamentals have become hollow - its a substantial investment and you ought to be very careful.
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  • Originally Posted by harshogle
    Dude, Indian real estate market is non-transparent. My biggest grouse against this paid article is that the target segments for Noida extension buyers and Unitech homes are very different and the article seems to suggest that Noida extension buyers will flock to Unitech.

    I know Parsvnath and Unitech are different companies and Unitech is in trouble due to 2G scam and Parsvnath due to liquidity problems.


    Why do you want to pay a premium when the underlying fundamentals have become hollow - its a substantial investment and you ought to be very careful.


    absolutely right buddy.............
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  • Also, I see that this article is from Daily News and Analysis website (DNA) which publish a lot of paid articles and anti-consumer articles. e.g. They have written at least 20 articles against UID aadhar project and even a child knows that UID would bring transparency and easiness in dealings for Govt./ private services.
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  • Very unlikely.

    People looking at NE are those Aam Junta who primarily look at Value for Money. These are the people who aspire to move to the next level but unwilling/unable to pay for those bells and whistle. All those Wi-Fi, Fiber Optics, Sports academy... blah blah are nice to have but they will never pay directly for it.

    Key is "Value for Money" and both the mentioned builders are never associated with that. NE affected buyers are "Doodh ka Jwala" they will be very careful in picking up their next builder.... these two builders are definitely not so good in their reputation.

    To me, the smaller and cheaper builders will get some benefit such as Today, Paras ... rest will be status quo
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  • STAY AWAY from UNITECH ..... Their projects in Greater Noida went nowhere e.g. CAPELA et al. Thousands of investors have lost money there ....

    Supreme Court have raised Rs 7000 crore demand from DB Etilaset (Telecom Company floated by DB Realty). They soon going to attach their properties in case they failed to cough up this amount. Unitech is next in line.

    Mr Chandra is in Jail ....

    Most of the projects are 3-5 years late ....(e.g. Unitech Grande in Sector 96-97-98 on Noida expressway).

    Anyone who invests their money with Unitech and Parsvnath. They would be doing mistake of their life. STAY AWAY.
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  • "Unitech, Parvsnath to benefit as NOIDA Extension buyers scout options" - the one who has written this should be identified and harassed publicly. Noida extension buyers are the ppl who have max 30 lac budget and are looking for their dream house, Unitech / parsavnath does not have anything at this budget. Noida extension buyers will prefer moving to RTM society's in ghaziabad, CR, RNE....
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  • Originally Posted by chirag999
    "Unitech, Parvsnath to benefit as NOIDA Extension buyers scout options" - the one who has written this should be identified and harassed publicly. Noida extension buyers are the ppl who have max 30 lac budget and are looking for their dream house, Unitech / parsavnath does not have anything at this budget. Noida extension buyers will prefer moving to RTM society's in ghaziabad, CR, RNE....


    Precisely that's the point.... when common sense can clearly see something then how these PAID reporter can write nonsense!!
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