Announcement

Collapse
No announcement yet.

Sec 119 in the current market scenario

Collapse
X
Collapse

Sec 119 in the current market scenario

Last updated: January 15 2011
18 | Posts
4949 | Views
  • Time
  • Show
Clear All
new posts

  • Sec 119 in the current market scenario

    Hi Senior members,

    I currently have a tempting offer to book in Phase 2 of Gaur Grandeur, Sec 119. (abt 2700 / sq ft all inclusive).

    Till about 6 months ago sec 119 was considered to be one of the better upcoming areas in Noida. Now with all the new launches in 76,77, 78 the location of 119 looks to be a bit remote. Its stuck all the way back in a corner.
    However, one good thing about 119 is that in 3 of the 4 projects the work is going on at a great pace. First phase of Gaur Grandeur looks all set to be ready for posession by ~ Dec 2010. So by the time I get possession (by mid 2012), the sector would already be livable with most of the initial probs sorted out.

    The offer is good for a couple of days only and I would really appreciate if you could share your opinion on the same:

    1) Does investing in 119 in the current scenario make any sense?

    2) How does the almost 50% completed Sec 119 compare against the below mentioned with very less or zero construction so far:

    a) Sec 76, 77, 78
    b) Sec 110
    c) Sec 138

    Thanks in advance,
    Varun
  • #2

    #2

    Re : Sec 119 in the current market scenario

    Builder is good and construction going on so safe bet from money point.
    There are few buyer of that project in IREF so meet one of them and read buyer agreeemnt and delivery date written on agreement and also confirm from builder.
    I heard that to utilize 2.75 FAR new towers have 10 flat per floor so check plan and if flat is above 4-5 floor then do not buy if less than 4 lift in building.

    Someone reported booking at same price in Feb/March so no increase in price.
    So if you are a end user and want a safe bet then go ahead. But do not expect any price increase due to NOIDA extn is nearby.
    Don't be surprised if builder offer same price in Aug 2011 but it all depend on NOIDA RE market and how these new project launched in NOIDA/NOIDA Extn shapes up.
    If 50% of these new lauches in Sec 74-78 start construction at good pace and chances of delivery by 2013 then do not expect any price increase in Sec 119/120/121.

    Do not fall in 2 day window, take your time and then decide. I am sure builder is in hurry to clear inventory as seems already diagnosed the market mood.

    Comment

    • #3

      #3

      Re : Sec 119 in the current market scenario

      Thanks Chandra for your insights.

      The new block has 2 wings. 4 flats of 1530 Sqft served by 2 elevators and 6 flats of 1265 sq ft served by 2 elevators. In total 4 elevators.

      You have mentioned that I should not fall for the 2 day deadline but the only reason I haven't been able to make a decision and book so far is that by the time I have made up my mind, the builder hikes up the prices. Prateek Wisteria being one such project.

      I was thinking on the lines of buying this right now and then when I get possession in 2012 (good chances since the basement has already been completed for Ph II as well) I can then sell this off and then buy in 74-78 in a project which is coming up the best. But keeping in mind the very high inventory in Noida RE and the locational disadvantage of Sec 119. Would it be easy to find buyers and make this shift?

      Am so much more confused.. Any more suggestions/advice would be welcome.

      Thanks again
      Varun

      Comment

      • #4

        #4

        Re : Sec 119 in the current market scenario

        If you are buying a house for your own use, then I do not think 119 is a bad location. Once the construction is completed in sector 117, 119,120 all these sectors will be well connected with internal roads with sector 74, 75, 77 etc. Once the road between 117 and 120 is completed (and it will eventually be) , these sectors wil be as close to sector 50 as sector 74 and 77 are. 1 Km here and there will not make any difference once all these sectors are completed. The quality of construction and how the society has shaped up will play the major role in deciding the market price of your flat.
        For example, all the societies had been sold out for almost the same price in Indirapuram about 4-5 years back but now see the price difference among different societies.


        Originally posted by varund View Post
        Thanks Chandra for your insights.

        The new block has 2 wings. 4 flats of 1530 Sqft served by 2 elevators and 6 flats of 1265 sq ft served by 2 elevators. In total 4 elevators.

        You have mentioned that I should not fall for the 2 day deadline but the only reason I haven't been able to make a decision and book so far is that by the time I have made up my mind, the builder hikes up the prices. Prateek Wisteria being one such project.

        I was thinking on the lines of buying this right now and then when I get possession in 2012 (good chances since the basement has already been completed for Ph II as well) I can then sell this off and then buy in 74-78 in a project which is coming up the best. But keeping in mind the very high inventory in Noida RE and the locational disadvantage of Sec 119. Would it be easy to find buyers and make this shift?

        Am so much more confused.. Any more suggestions/advice would be welcome.

        Thanks again
        Varun

        Comment

        • #5

          #5

          Re : Sec 119 in the current market scenario

          Varun,

          Remember the most fundamental requirement of a property either for own use or for return is "Location". Good locations and premium constructions will always command a premium over others and thats the reason why 75-78 will command premium over 119.

          We all have a notion that "flat kahin bhi lelo price and demand will always increase". This is not the case anymore.

          My simple suggestion is to go for sec 75-78 with a good builder if these are the only options, there are many good locations at 3000psf.(10% more than what u are getting in 119).

          One distinct advantage i see is construction is midway in 119. that is the only saving grace.
          MM

          Comment

          • #6

            #6

            Re : Sec 119 in the current market scenario

            Originally posted by varund View Post
            Thanks Chandra for your insights.

            The new block has 2 wings. 4 flats of 1530 Sqft served by 2 elevators and 6 flats of 1265 sq ft served by 2 elevators. In total 4 elevators.

            You have mentioned that I should not fall for the 2 day deadline but the only reason I haven't been able to make a decision and book so far is that by the time I have made up my mind, the builder hikes up the prices. Prateek Wisteria being one such project.

            I was thinking on the lines of buying this right now and then when I get possession in 2012 (good chances since the basement has already been completed for Ph II as well) I can then sell this off and then buy in 74-78 in a project which is coming up the best. But keeping in mind the very high inventory in Noida RE and the locational disadvantage of Sec 119. Would it be easy to find buyers and make this shift?

            Am so much more confused.. Any more suggestions/advice would be welcome.

            Thanks again
            Varun
            Dont fall for the 2 day deadline - just a plain tactic being employed by the builder. By now all the good or decently good units would have been mopped up - so what is available today should be available after 10 days too... no need to rush in...

            Comment

            • #7

              #7

              Re : Sec 119 in the current market scenario

              What locational advantage of sec 75, 78 you are talking about. Once the road between sec 50/51 and sec 117/119 is operational, distance will be 2.3 km vs 3 km for Mahagun Mordern.
              Check urself at google image. Moreover see the shipra sun city now..how it's managed..God knows what will hapeen to Gardenia etc. How it will shape up/managed or mis managed
              Last edited by sanju6000; September 3 2010, 12:34 AM.

              Comment

              • #8

                #8

                Re : Sec 119 in the current market scenario

                Do you know a shopping complex os coming up in sector 118 Noida? Can somebody confirm it please..

                Comment

                • #9

                  #9

                  Re : Sec 119 in the current market scenario

                  conclusion??

                  so whats the conclusion, sector 119 gaur grandeur or any good builder in secrtor 76, 77, 78??
                  Invincible !

                  Comment

                  • #10

                    #10

                    Re : Sec 119 in the current market scenario

                    It's a decent buy price wise but resale may not be easy. In my opinion, sector76-78 would be better

                    Pros of 119:-
                    1. Shamshan & kabristan enroute if you look at sec77,78.
                    2. Gaur is a decent builder. Compare it to other builders in 75-78 are Gardenia, Supertech, Ajnara, Prateek,Antriksh,Kanball (leaving out Sec78 which for me has a location disadvantage due to point1 above). Gaur is better or comparable to Sec74-77 builders.
                    3. Few other projects are also getting completed in these sectors. So that good for Gaur project.
                    4. Project being 50% complete, with phase-1 nearing completion means a lot less risk. I think people tend to discount this fact a lot. A project midway means way less risk.

                    Cons:-
                    1. Biggest being the metro is supposed to pass in front of Sector76-78. This point alone would mean the chances of appreciation would be much much more in these sectors. This point alone would justify a buy in these sectors.
                    2. Higher price.
                    3. 2Km further away is Noida Ext where projects are selling at 1800. So that could limit the appreciation there.

                    So it's your call. I would say go for Prateek Wisteria. Ajnara is a decent builder but as I read a post, its Grand Heritage has a very high density.

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X