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Gurgaon V/s Noida

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Gurgaon V/s Noida

Last updated: December 14 2010
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  • #11

    #11

    Re : Gurgaon V/s Noida

    Gurgaon V/s noida

    Yes, thats correct to some extent...
    But the fact is property prices in India are growing at a much faster rate than anticipated.

    I will be returning back to India in the coming 4-5 years and the way things are going, I dont think that I will be able to get even a descent
    house at an affordable price..
    In spite of earning here, buying a descent house in India is getting more and more difficult..
    also not to mention the value for money...

    So thats why I thought of investing say 60 lakhs in buying a descent appt. in NCR, so that when I come back I dont pay an escalated price for the same property
    & still enjoy the benefits of a good location...

    Yes, I think the trick is to pay the loan asap to counter the inflation and correction of the market...
    May be within 5 yrs.. being too ambitious but life's getting harder and harder otherwise and I am sure will
    be even more in the future..

    People say the prices in overall NCR will come down, but the fact is I have never seen them going down..They might have reduced a bit during this latest recession
    but they are again on the rise and I am sure will rise further as India is on the verge of becoming more powerful as economy.
    Thats the whole reason I wanted to invest rather than have a grief later on..

    Having said that, I really wanted to know some good descent projects in Gurgaon and Noida at the moment..

    Comment

    • #12

      #12

      Re : Gurgaon V/s Noida

      Originally posted by skyhello View Post
      Thanks for the update!
      Having said that can you advice some good projects in Noida and Gurgaon?
      I would like to invest in some good projects which are not only good from investment perspective but if required can be inhabited as well in the future...

      What I remember of Noida 10 yrs back when I stayed there, was:
      1. Crowd/Gentry was not up to the mark...
      2. High Crime rate
      3. Lack of GLOBAL, GOOD, LARGE corporations excluding BPO's

      But what I remember of Gurgaon say 5 years back(before I moved here), was:
      1. Hub of large corporations. Also remember lot of them shifting bases from Delhi to Gurgaon.
      2. Good professional people (typical service class)

      When it comes to Noida express way there are no amenities in the vicinity apart from the convenience stores which most of the builders will be constructing within the premise. In effect the place itself has lack of shopping complexes, whereas Gurgaon though has only malls but in abundance to balance it out...

      Agreed, Noida has lot of potential but the state of UP govt. has added to its woes where off late the perception within the politicians have changed as they have realized that if there's no development, there's no vote!
      Which explains Mayawati's drive for some of the most ambitious projects in the NCR region recently (Airport, express way etc..) But how much of this continues and translates further is something to watch out for.....
      Kind of Gurgaon you are looking for, I don't think anything will be available below 5000/sqft all inclusive and minimum size will be 1500 sqft.
      5000/sqft is rate for B class builder or project which have not even started at all. The one which are good will be atleast 5500 to 6000 all inclusive in Gurgaon, the area/gentry you desire.

      The other below 3000/sqft all inclusive in Gurgaon will take another 10 years to develop or not in Gurgaon at all.

      Comment

      • #13

        #13

        Re : Gurgaon V/s Noida

        My comments are in bold. See i am not pressing upon my point of view. it is your decision. i am suggesting you based on personal experience and wisdom which i have gained from this forum. i still hold NRI status myself as i just returned 3 months back and have invested in RE.

        Originally posted by skyhello View Post
        Yes, thats correct to some extent...
        But the fact is property prices in India are growing at a much faster rate than anticipated.
        They are still avl at 2000 psf in Noida extn and 3000 in Noida. More than 1.5Lac flats will be delivered in next 5 yrs which will not take prices thru the roof for sure. What has happened in the past doesnt mean will keep on happening. Price of property is directly proportionate to salary and incomes which arent rising rapidly.

        I will be returning back to India in the coming 4-5 years and the way things are going, I dont think that I will be able to get even a descent
        house at an affordable price..
        In spite of earning here, buying a descent house in India is getting more and more difficult..
        also not to mention the value for money...
        For you it makes better sense to wait and watch for 3 years and buy a ready to move property which will still be avl for 4500 , 3 yrs from now and will be well within your budget of 60 lacs. plus u can choose the best.

        So thats why I thought of investing say 60 lakhs in buying a descent appt. in NCR, so that when I come back I dont pay an escalated price for the same property
        & still enjoy the benefits of a good location...
        again since u are not in India go for a ready to move. U can do that today as well for 4500 in Noida and 6500 in Gurgaon. Get rental income which pays half of your loan EMI.

        Yes, I think the trick is to pay the loan asap to counter the inflation and correction of the market...
        May be within 5 yrs.. being too ambitious but life's getting harder and harder otherwise and I am sure will
        be even more in the future..
        Yes i agree. but remember that bank charges almost 50% interest of the total 20 years term, in the first 5 years.

        People say the prices in overall NCR will come down, but the fact is I have never seen them going down..They might have reduced a bit during this latest recession
        but they are again on the rise and I am sure will rise further as India is on the verge of becoming more powerful as economy.
        Thats the whole reason I wanted to invest rather than have a grief later on..
        No the prices came down by as low as 30% and hence new projects got launched. U can get a under construction house for 15 Lacs in G. noida / Noida extn and for 25Lacs in Noida today as well.

        Having said that, I really wanted to know some good descent projects in Gurgaon and Noida at the moment..
        MM

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        • #14

          #14

          Re : Gurgaon V/s Noida

          I am in total agreement with Munish. 1.5 lac flats in next 4 years is too much for Noida to handle. Price would not increase more than bank rate of interest.i.e 8%-9%/year. And you will see many builders ( including reputed one) failing to keep their commitments.
          Since you have already made mind to buy property, and dont want to take risk, buy that property which is closer in distance to Delhi. That could be a safe bet.

          Comment

          • #15

            #15

            Re : Gurgaon V/s Noida

            Skyhello,

            I concur with the advise given by Munish. Do not leverage too much right now for any of the two cities. Prices in Gurgaon is too hotttt now and in Noida it will go nowhere in the coming months because of oversupply scenario. Stay put your interest in RE and I am sure you will get newer brighter ideas to invest your money without taking an immediate loan.

            Comment

            • #16

              #16

              Re : Gurgaon V/s Noida

              My thinking is days of doubling price in one year are gone. but good location project will see increase in price around 20% per year. case in point are 3C projects. company is increasing booking price little by little continuously and flats are getting booked very fast. LB started at 2900 and now booking price is 3800. resale is around 3600 for decent location flat. I tried to buy there in resale before going to LP. Even in LP booking started at 3050 and now its around 3350. and if we trust 3C employees, it will be 3450 next month.

              Only plus point i see with 3C projects is good location as all the developers are promising moon and stars in their projects. who knows what will we get after 3 years


              Originally posted by amit2222 View Post
              Skyhello,

              I concur with the advise given by Munish. Do not leverage too much right now for any of the two cities. Prices in Gurgaon is too hotttt now and in Noida it will go nowhere in the coming months because of oversupply scenario. Stay put your interest in RE and I am sure you will get newer brighter ideas to invest your money without taking an immediate loan.

              Comment

              • #17

                #17

                Re : Gurgaon V/s Noida

                Gurgaon V/s noida

                Really the prices are touching roof in Gurgaon and Noida, I am not sure whether this will continue in the future. I think the prices in both the places will saturate and will not grow beyond a point, since people will start moving further away to areas of Manesar and Greater Noida, a shift which has already started. of course the big buyers will shed more to stay the prime location but they will not be in abundance.

                I think the key now is NOT to get into project with already high prices & of course NOT compromising on quality and location as well..
                A perfect example that I have seen for my budget and kind of investment in Gurgaon is:
                1. Vatika V/s Orris : Vatika is an old project though good but expensive(especially floors) compared to Orris which is new. May be in the longer run Vatika will grow more than Orris but it is negated by the high EMI and interest that you pay upfront.

                Is it safe to say that in the longer run as well Gurgaon will always have an upper edge over Noida in terms of pricing? especially because Noida will have abundant supply in coming yrs.
                So, the chances of getting the maximum gain can only be possible:
                If you invest in Gurgaon, a good (fresh booking one), descent builder with assurance of good quality...

                I dont know how Orris in Gurgaon is for that matter or Logix Blossom in Noida?

                Comment

                • #18

                  #18

                  Re : Gurgaon V/s Noida

                  Skyhello,

                  Your information about both Noida and Gurgaon is correct.

                  Orris Aster court had a prelaunch price of Rs.2350 and heard that today they have increased the price to Rs.2650. So you have lost an opportunity of at least Rs.300psf if you book your flat now. http://www.indianrealestateforum.com...47-page18.html

                  I suggest you to better wait and find information of new launches from Class A builder in the next few months. There would be enough opportunities on table as festival season is coming up. So don't hurry and don't leverage yourself too much in the high interest rates and high inflation economic scenario.

                  Comment

                  • #19

                    #19

                    Re : Gurgaon V/s Noida

                    Book bestech

                    Buy Bestech in sec 81 , Gurgaon in pre-launch....

                    Comment

                    • #20

                      #20

                      Re : Gurgaon V/s Noida

                      Gurgaon V/s noida

                      Ok, do u have the launch date of this project? or details? as i couldnt find floor plans and project details.. on the web

                      Comment

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