Hi i am planning to purchase a 3 bhk in greater noida with a budget of 55-60 lacs. I have been searching properties during the weekends and have shortlisted a few. Currently i work for a Pune based company but in GN since last 3 months on a project. I somehow like this area due to its emptiness and wide roads. I really admire, appreciate and somewhat agree with "Zohaib's" view on GN and its gentry but i like this area better than the over clogged Delhi. We (me and my wife) travel often (in or outside india) so local area does not matter but wide roads and proximity to airport does. This property will be for my self use.

Me and my wife have been staying in GN since last 3 month in a rented 3bhk for just 14K and so far our experience is good. We have a big park next to our society, good for morning and evening walk, society's gym is good for alternate day's workout. Weekly ration from Honey money top or Ansal market at pari chowk.

also here are the reason choosing GN only
Gurgaon : it was impressive in the beginning but later when sanity prevailed, we don't like it any more though it is near to airport.
Delhi : too polluted, too crowded, too expensive, too noisy
Noida : good but nothing was in our budget and we don't want to spend more an 60 L
Noida Xpressway : I liked it but wifey don't as she don't like high rises. She is okay with living in high rise in Pune but not in NCR.
and why only greater noida : wide roads, greenery, near to Delhi (parent's house), low rise housing within our budget, smart city good for location independent IT folks like us, flat prices are low compared to Noida, Delhi, Pune, Gurgaon.

So, the point is even though i have finalized on GN for 3 bhk, i am not sure how the property market will be after 5 years…..as if now i am seeing so many distress sale of 2/3 BHK flats….. i asked few owners about their purchase price and realized that they have not earned a good return on flats. for eg one owner bought an eldeco low rise for 23L in 2001 and now he is demanding 57L, that too negotiable. 23L to 57 L in 15 years is not a good return. I don't want to be in the same situation where i buy something for 55L today and after 7-8 years i am struggling to sell it for 65 or 70L. Though its for my own use but one never know where he or she will be after 8 years.

So, folks, wanted ur views on the future prospects (in terms of appreciation of GN Flats) with the talks of metro, smart city and airport going around.

thanks in advance.
Sid
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  • It is difficult to see how the market would be positive in the short term given the oversupply. My long term outlook for GN is however very possitive..

    I can state my own case as an example. I bought a property in GN around 2.5 years back. Recently my neighbor(same floor) and exact same configuration sold his flat for around 25% higher that my purchase price. If you add things like registry and brokerage and woodwork etc I am probably looking at a 10-15% increase in 2.5 years. While this is not good it is still better return that what most properties on the expressway have given in the same period. I put this down to the ridiculously cheap prices on GN main in comparison to expressway. My rough estimation for my flat is that the price should be double of my purchase price in next 5 years. Again as this was for end use I am happy with these numbers and my decision to move to GN.

    Incidentally I also live in an eldeco low rise.
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  • Mr.Sid Suri

    Greater Noida will NOT appreciate MORE than Noida anyways.

    YOUR assumption is that following issues could be very helpful....
    Just to explain you, Lets ASSUME what you are suggestng ACTUALLY comes true...

    1. Airport---Location is Nearly 40 kms from Gnoida pari chowk and the region which will gain appreciation MAX from it, will be yamuna expressway

    2. Metro----The Noida sectors on expressway will Gain MAX....as 78 sector is already close to an existing station....Noida expressway 137,143 Belt will GAIN max...as SEZ and MNC and Metro plus expressway...a great combination

    3. Smart city---- As per Authority Its already a smart city...so what diff. it will make ?????


    If you are seeking appreciation....GO TO NOIDA.....Even Noida extension will give better returns than Flats in Main Gnoida


    Greater Noida Flats will NOT Give any good returns till it becomes a SELF SUSTAINED city...and not RELY on Distance/ Connectivity to Noida, delhi etc etc etc etc etc

    That WILL NOT HAPPEN with the present attitude of Authority

    Gurgaon and Noida progressed because they became independant cities...

    They have better hospitals, schools, jobs than delhi

    Ghaziabad survuves only becoz of proximity to noida and delhi

    Greater Noida needs...NCR STANDARD faculities....and ABove all JOBS


    There should be people coming in from rest of NCR to work.....THATS WHEN you will see appreciation

    If you like the region for other reasons....STAY ON RENT...Save the Horror of owning a Flat in greater Noida

    You will block your money....and pay a lot of interest (if loan)


    If you want flat....go to Noida, Noida extension


    Greater Noida...ONly a region for plots....if u can tolerate Locals and Villagers all around you.

    Its a literal shock to visit the Plot sectors of Greater Noida.....Locals everywhere....Hookas, chaupals on road....Terrible Gentry and on top of that Student hostels
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  • In a nutshell.....BUY in Noida IF U CAN...as you can ALWAYS sell in Noida and buy a Bigger flat in Greater Noida in FUTURE....but NEVER EVER the other way round

    IN FACT......You can even sell in Noida extension and BUY in Greater Noida.....


    Buy in Noida and Noida extension......If at all all your "Assumptions" become true...These regions will Gain much more..and you can THEN sell in Noida / Noida extn and Buy in Gnoida main
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  • Dear Mr. Zohaib,

    I read lot of your posts.

    It is true that you have a very good knowledgeof RE and you are a

    senior member of IREF.

    But I don’t understand why you hate greaterNoida, villagers, locals &

    students etc. etc.

    From maximum of your greater Noida posts, wecan feel like a hate speech

    about greater Noida.

    Villages, Chaupals, Hookas, Locals (localpeoples) etc. etc. all these things

    are part of our society.

    Are you sure there are no locals in Noida/Noida extension/Gurgaon/Delhi etc.

    Then why you always target greater Noida only.

    Majority of our society’s background is village. Good & bad peoplesare every

    where (either village or city).

    This is also fact that greater Noida isone of the best city to live in NCR.

    (less crowed, more greenery, more openspace, maximum low rise, wide roads

    expressway & Metro connectivity etc.etc.) all these things we will not get every

    where in NCR.

    Just my point of view. Nothing personal.
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  • 1. Noida and Gurgaon have a HUGE INFLUX of Educated service class, therefore subsiding the Negative effects of locals

    2. I donot try to paint a diplomatic picture and say what the ground reality is....The Newly rich Locals of that region...have made a huge NEGATIVE impact in the development of the region. Historically that region was NEVER Well established region for Agriculture etc..and was flooded by hindon...hard water...and therefore was never a predominant agri local economy.
    The Sudden wealth due to Land compensation simply was not handled by the locals.
    Instead of Using it for education, developing of good markets, ensuring safety and security of villages and nearby areas, improving local industries......they have made ghettos and have no regard for civic sense and law and order of the region.

    3. The newer generation is getting worse....You can see them loitering around in large groups all around city from morninig to evening in weekdays .......means no interest in education...work....etc etc etc...Such groups are the biggest threat to law and order.

    4. It is not upto me or you to judge....ASK THE PERSON WHO HAS SHOPS, BUSINESSES in Greater Noida markets...they will tell you.
    The face the negativity daily....Just go and talk to any policeman also...he will also give you a very good idea

    5. I am not here to share my likes and dislikes....I have done RE business with them for years..and know the system very well.

    6. There is not even a single market, mall where one can expect his wife or young daughters to visit comfortably.
    The situation is so bad that even hospitals, schools are getting infected.

    7. Once again...Not my statements.....but proven by the fact that majority educated class families have their children studying in Noida schools....hardly anyone from noida studies in greater noida.....People avoid gnoida malls, markets, hospitals....and go to noida
    Inspite of having 1 lakh tourists passing the region every week...there is NOT EVEN A SINGLE market which can tap their potential...as Businessmen are NOT O.K with the Security issues of the region

    8. The region HAD Potential...but is ruined by the neglect of the authority and behaviour of locals.

    9. Working educated service class people.....WANT...security and lifestyle FIRST......which is bad in Gnoida.

    10. I am not here to dicsuss morality and social fabric of the society.....but simple ground facts.....
    The fact is.....NO ONE FROM AN EDUCATED SERVICE CLASS URBAN BACKGROUND WILL LIKE Such people living in majority around them...and its ONLY Bcoz of their civic behaviour.

    Forget outsiders....just visit the Good societies of Greater Noida..like ATS, Silver City, Nri city...you will find DOZENS of EDUCATED LOCAL FAMILIES living there...EVEN THOUGH they own Huge Plots all over Gnoida.....as they DONT WANT their families / kids to grow with these kind of people around them....I know many such families...


    Nothing is 0% or 100%.....in Greater Noida....Majority Locals spl. from the Urban villages are a BIG PROBLEM for securitry, law and order and General civic behaviour of the city

    Its called "MOB CULTURE"......This will ONLY subside when edcuated service calss will also be in large %...like happened in noida and gurgaon...but thats simply happening in Gnoida at slowest pace possible.
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  • I think NEx has already a botched up and people have milked it to dry... even much hyped metro will not going to make wonders to the region, Metro is already in the dwarka, Narela, Mundka and the service doesn't guarantee decent life style. I am pessimistic about anything that has anything to do with Noida-GNoida authority. the industries are not growing, so we can assume not much of local employed people will be living, high inventory of investors has made sure many units to lay vacant for many coming years, pigeonhole like homes has made sure too much pressure on common amenities. End user might get home here but not the quality of life they might be hoping, over all GNoida ( including NEx ) has been killed systematically by everyone who could kill it... down with everyone involved
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  • My opinion in a nutshell

    - Gnoida WAS a Great Potential..now ruined beyond repair

    - Noida extension will become BIGGEST M.I.G Concrete jungle in the history if NCR.

    - Main Gnoida which is predominantly Plots...is RUINED by the Gentry. Educated service class doenst Want plots and most certainly not the kind of neighbours there are in plot sectors. most plots are OWNED by locals and they will Not give it up. these plot sectors have become the Hotspot for locals, whic reside permanently and because of the civic behavior are NOT encouraging Buyers from delhi, noida to buy plots in Gnoida and make houses.
    For Rookies....MAJORITY Plots in Noida were picked by Delhiites / Defence people who decided to make their own homes, hence you see the crowd of Noida plot sectors so refined
    In Gnoida...Majority owners are locals...

    - Absolutely No interest from MNCs...AT ALL.....None what so ever

    - Industries feel cheated and once again No support from authority

    - U.P Effect is MASSIVE...look what they did to F1 ......U.P Babus and Govt...only bother about COMMISSION....They are NOT supportive of developing a Region with support of industries, etc....
    U.P Govt showed their Auqaat and F1 Chief showed them the middle finger.
    The Hotels which wanted to come up in the region....have no interest now.

    - Authority has made is a Habit of launching new projects, proposals and givnng an ABOSLUTE DAMN about what they did before

    - Yamuna expressway is another example....of how U.P effect can ruin everything.....What development it bought to Gnoida ?????
    Do you see tourists stopping over and shopping in Gnoida.
    Do you see tourists filling up hotels
    NO


    U.P is a Joke......The U.P babus and Netas are the worst lot...and cannot improve.

    Tourists come in LAKHS to Taj Mahal....Take the Yamuna expressway...BUT STAY IN Delhi...shop in delhi...spend money in delhi

    U.P babu is happy with the CHILLAD thrown at them

    I have dealt with authority officials dozens of times...just throw in a bone....they wag their tail.....it doenst happen so easily in haryana and delhi


    There is a reason why the WORST LOT of so called builders are in U.P !!!!!!!
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  • if anyone serious reading this forum STAY AWAY from anything that has anything to do with the region... just stay away... run like hell
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  • If you want to live as an end user...it is the best place to live.

    As an investment, it is a long term bet.

    Since you are already living here...you know the ground reality.

    Buy if you have holding capacity....else continue to live on rent

    Originally Posted by sidsuri
    Hi i am planning to purchase a 3 bhk in greater noida with a budget of 55-60 lacs. I have been searching properties during the weekends and have shortlisted a few. Currently i work for a Pune based company but in GN since last 3 months on a project. I somehow like this area due to its emptiness and wide roads. I really admire, appreciate and somewhat agree with "Zohaib's" view on GN and its gentry but i like this area better than the over clogged Delhi. We (me and my wife) travel often (in or outside india) so local area does not matter but wide roads and proximity to airport does. This property will be for my self use.

    Me and my wife have been staying in GN since last 3 month in a rented 3bhk for just 14K and so far our experience is good. We have a big park next to our society, good for morning and evening walk, society's gym is good for alternate day's workout. Weekly ration from Honey money top or Ansal market at pari chowk.

    also here are the reason choosing GN only
    Gurgaon : it was impressive in the beginning but later when sanity prevailed, we don't like it any more though it is near to airport.
    Delhi : too polluted, too crowded, too expensive, too noisy
    Noida : good but nothing was in our budget and we don't want to spend more an 60 L
    Noida Xpressway : I liked it but wifey don't as she don't like high rises. She is okay with living in high rise in Pune but not in NCR.
    and why only greater noida : wide roads, greenery, near to Delhi (parent's house), low rise housing within our budget, smart city good for location independent IT folks like us, flat prices are low compared to Noida, Delhi, Pune, Gurgaon.

    So, the point is even though i have finalized on GN for 3 bhk, i am not sure how the property market will be after 5 years…..as if now i am seeing so many distress sale of 2/3 BHK flats….. i asked few owners about their purchase price and realized that they have not earned a good return on flats. for eg one owner bought an eldeco low rise for 23L in 2001 and now he is demanding 57L, that too negotiable. 23L to 57 L in 15 years is not a good return. I don't want to be in the same situation where i buy something for 55L today and after 7-8 years i am struggling to sell it for 65 or 70L. Though its for my own use but one never know where he or she will be after 8 years.

    So, folks, wanted ur views on the future prospects (in terms of appreciation of GN Flats) with the talks of metro, smart city and airport going around.

    thanks in advance.
    Sid
    CommentQuote
  • G. Noida is a long term bet,. Only thing which can make the property rates higher is the job creation. Which currently does not exist. I have been living in G. Noida since 2011. I bought at 2550/ in 2010 and now it is trailing between 4800- 5000. I live in ATS. Generally the appreciation is lower in G.noida. Only place in NCR where you can breathe fresh air.
    Coming to educated class, most of the so called educated class are just qualified class. They still need to go a long way before being called an educated class.
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  • what should be the horizon for 'long term' ?
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  • Originally Posted by sidsuri
    Hi i am planning to purchase a 3 bhk in greater noida with a budget of 55-60 lacs. I have been searching properties during the weekends and have shortlisted a few. Currently i work for a Pune based company but in GN since last 3 months on a project. I somehow like this area due to its emptiness and wide roads. I really admire, appreciate and somewhat agree with "Zohaib's" view on GN and its gentry but i like this area better than the over clogged Delhi. We (me and my wife) travel often (in or outside india) so local area does not matter but wide roads and proximity to airport does. This property will be for my self use.

    Me and my wife have been staying in GN since last 3 month in a rented 3bhk for just 14K and so far our experience is good. We have a big park next to our society, good for morning and evening walk, society's gym is good for alternate day's workout. Weekly ration from Honey money top or Ansal market at pari chowk.

    also here are the reason choosing GN only
    Gurgaon : it was impressive in the beginning but later when sanity prevailed, we don't like it any more though it is near to airport.
    Delhi : too polluted, too crowded, too expensive, too noisy
    Noida : good but nothing was in our budget and we don't want to spend more an 60 L
    Noida Xpressway : I liked it but wifey don't as she don't like high rises. She is okay with living in high rise in Pune but not in NCR.
    and why only greater noida : wide roads, greenery, near to Delhi (parent's house), low rise housing within our budget, smart city good for location independent IT folks like us, flat prices are low compared to Noida, Delhi, Pune, Gurgaon.

    So, the point is even though i have finalized on GN for 3 bhk, i am not sure how the property market will be after 5 years…..as if now i am seeing so many distress sale of 2/3 BHK flats….. i asked few owners about their purchase price and realized that they have not earned a good return on flats. for eg one owner bought an eldeco low rise for 23L in 2001 and now he is demanding 57L, that too negotiable. 23L to 57 L in 15 years is not a good return. I don't want to be in the same situation where i buy something for 55L today and after 7-8 years i am struggling to sell it for 65 or 70L. Though its for my own use but one never know where he or she will be after 8 years.

    So, folks, wanted ur views on the future prospects (in terms of appreciation of GN Flats) with the talks of metro, smart city and airport going around.

    thanks in advance.
    Sid


    Wheres your work place?
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  • I live in G.noida and also invested in G.noida ( Purvanchal royal city). I invested keeping in mind a horizon of 7-8 years. It is the only place in NCr which has not really appreciated.. It is a cycle. It is G. noida now. I could see a lot a change in G.noida compared to 2011 when I shifted. Lot of people commute from G.noida which was not there 3 years back.
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  • Important point. It makes sense to have a house / flat close to your work place provided you stay in the job for life. If you hop quite often then it does not work.
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  • 1. Flats are NEVER EVER Long Term "Investment" in a suburban region like Gnoida...and that too High Density

    2. Low Density Flats are No doubt VFM in Greater Noida..and could be an Option FOR SOMEONE Who is Ok with the Major issues of Greater Noida and has permanent job in gnoida or noida expresswau

    3. Greater Noida has NO Interest from MNCs or Industries. Nearly ALL the Commercial Land in Decent locations has been sold to THIRD CLASS Builders ENSURING that Jobs will remain an issue for the next decade easily

    4. There is a Huge difference in INCREASE in population and QUALITY of population. The Population of Gnoida is Increasing but MOSTLY from nearnby small towns and villages. Its NOT on list of Urban Crowd from NCR, as it doenst offer them the FEEL of a NCR suburb

    5. If Non polluted air and Greenery is ONLY criteria..then YAMUNA EXPRESSWAY is an excellent choice ....Direct connectivity from yamuna expressway ensuring seamless and faster approach to residential areas of Expressway. BUT SHOULD THAT BE CONSIDERED ?????

    Nope.....as you need much more in a city than just Greenery


    6. There are no NCR standard markets, hospitals, doctors, schools, facilties, etc etc....For anything of any decent standrd one has to go to Noida onLy.......EVEN A BRAND NEW REGION like Crossing republik has BETTER Facilities than Main Greater Noida...and has far better crowd than Main Gnoida.

    7. Greater Noida is ONLY Greener...Well laid out...Open.....BUT THATS IT...there is nothing else to it.

    8. One spends a lot on petrol / diesel.....Social life takes a hit as most friends, etc would Not prefer to come to Gnoida and most certainly not after sunset

    9. Authority has completely abandoned its Newer sectors....Mu. xu..omicron resemble a warn torn area.
    Its other sectors liek chi phi, swarn nagri, delta 3, eta look absoltely ABANDONED...inspite of their good locations etc etc

    10. Greater Noida is ONLY for people who can Buy a Plot and think of living in it after retirement (after 10-15 years min.)
    Flats....NO WAY.....
    Low density...OK...If you work in Gnoida or Noida expressay PERMANENTLY


    Other than that...the city is a failed city...one of the worst areas of NCR in terms of facilties, Gentry and Appreciation

    In a Nutshell

    If it was so great and upcming....why NO ONE WANTS TO BUY....inspite of its Rock bottom prices ?????

    Answer...People who have already bought already after falling for marketing gimmciks of authority and builders....are basically stuck....they cant sell and buy a similar size even in Ghaziabad or even Crossing republik...forget noida or gurgaon....so they have NO CHOICE but to talk about greenery and pollution free areas.

    I would say...if you want pollution free...then why not head to yamuna expressway....:)
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