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Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

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Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

Last updated: May 26 2011
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  • Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

    In 2005, some builder got the land at very high rates around Rs 40,000 to Rs 50,000 per sq meter for GHP plots in sector 93A (SuperTech) , sector 50 (Mahagun), Sector 52 (Antariksh) etc.

    Based on the high land prices, the launch price of the flats was very high close to Rs 4000 to Rs 4500 per sq ft.

    Now, supreme court is asking state governments to adequately compensate the farmers as per prevailing rate which are as highs as Rs 20000 per sq meter in NE and Rs 30,000 per sq meter in Noida.

    If such high rates are paid to the farmers by either the builders or state government, then after accounting for the % of the acquired land which would be reserved for civic amenities (like roads, parks, etc), the final cost of the land would be in the range of Rs 40000 per sq mt.

    This means that in medium to long term or immediately after the passage of the new Land Acquisition Act in monsoon session , the launch price of flats might zoooom to a very high level (might be Rs 4000 - 5000 per sq ft or higher).

    Hence, it would be prudent to buy in Ready to Move flat or flats which are in advance stage of construction.

    You never know that the entire acquisition in NE is scrapped by next UP government and land re-allotted to builders at Rs 40000 per sq mt (after paying adequate compensation to farmers) and then flats launched by the builders at Rs 4000 per sq ft.
    Last edited May 25 2011, 08:48 PM. Reason: ;
  • #2

    #2

    Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

    Why is it everyone talks only about money ?

    In 2005 -

    -- Proper auction used to happen where bidding takes place ( though whom to give the plots was already done n dusted deal)
    -- FAR was equivalent to 50-55 flats per acre.
    -- Maximum height was 9 floors in 1 tower
    -- Builder whom land is given has to have some proven track road
    -- Money has to be paid to authority before they hand over the land

    In 2009 -

    -- No auction
    -- FAR is increased to 100-125 flats per acre
    -- No restriction on height
    -- previous track record - woh kya hota hai
    -- Money is to be paid over the period of 8 years


    These are not societies but "modern day chawls" - and yes i still maintain my stand on this comment. Let few societies finish there construction completely then all of us will see - what concrete jungle is all about or living in a chawl feeling is all about.

    PS - No need to go after me 2009 lovers - i am a mental case :-)))

    Regards
    Sbajaj

    Comment

    • #3

      #3

      Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

      Originally posted by sbajaj View Post
      Why is it everyone talks only about money ?

      In 2005 -

      -- Proper auction used to happen where bidding takes place ( though whom to give the plots was already done n dusted deal)
      -- FAR was equivalent to 50-55 flats per acre.
      -- Maximum height was 9 floors in 1 tower
      -- Builder whom land is given has to have some proven track road
      -- Money has to be paid to authority before they hand over the land

      In 2009 -

      -- No auction
      -- FAR is increased to 100-125 flats per acre
      -- No restriction on height
      -- previous track record - woh kya hota hai
      -- Money is to be paid over the period of 8 years


      These are not societies but "modern day chawls" - and yes i still maintain my stand on this comment. Let few societies finish there construction completely then all of us will see - what concrete jungle is all about or living in a chawl feeling is all about.

      PS - No need to go after me 2009 lovers - i am a mental case :-)))

      Regards
      Sbajaj
      This means "modern day chawls" might soon (after passage of the new Land Acquisition Act) come at Rs 4000 to Rs 5000 per sq ft.

      Comment

      • #4

        #4

        Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

        Originally posted by sanjeevchaudhri View Post
        This means "modern day chawls" might soon (after passage of the new Land Acquisition Act) come at Rs 4000 to Rs 5000 per sq ft.
        he he he .....if they will come at 5k per sft ........just imagine what will be the price of old g.old ( i.e societies built before 2009 scam took place)

        Regards
        Sbajaj

        Comment

        • #5

          #5

          Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

          Originally posted by sbajaj View Post
          he he he .....if they will come at 5k per sft ........just imagine what will be the price of old g.old ( i.e societies built before 2009 scam took place)

          Regards
          Sbajaj
          u mean to say, sabhi ATS wale apna ek ek flat bana le terrace pe, ek ke saath ek free ?? as now density can be double

          Comment

          • #6

            #6

            Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

            Originally posted by anubhaviit View Post
            u mean to say, sabhi ATS wale apna ek ek flat bana le terrace pe, ek ke saath ek free ?? as now density can be double
            Hey bhagwaan ............seriously you went to IIT or is it just a fancy tag in your name ?

            Regards
            Sbajaj

            Comment

            • #7

              #7

              Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

              Originally posted by anubhaviit View Post
              u mean to say, sabhi ATS wale apna ek ek flat bana le terrace pe, ek ke saath ek free ?? as now density can be double
              ATS is a great project and will remain so. well maintained, balanced, low density. Have been discussed many time. No beat to ATS.

              PS: I wrote above statement to avoid any other argument with someone on this forum who gets monthly petrol through ATS.

              Comment

              • #8

                #8

                Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

                Originally posted by sbajaj View Post
                Hey bhagwaan ............seriously you went to IIT or is it just a fancy tag in your name ?

                Regards
                Sbajaj
                I too doubt this. But still find its possible, recently met few people from IIT. Not impressive with their knowledge. All fingers are not same.

                Comment

                • #9

                  #9

                  Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

                  Originally posted by LChand View Post
                  ATS is a great project and will remain so. well maintained, balanced, low density. Have been discussed many time. No beat to ATS.

                  PS: I wrote above statement to avoid any other argument with someone on this forum who gets monthly petrol through ATS.
                  :-)))

                  I think ATS is a good project in NOIDA - but the day UNITECH GRANDE is delivered ( i hope in another 10-15 years :-)) - it will be the best.

                  Regards
                  Sbajaj

                  Comment

                  • #10

                    #10

                    Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

                    Originally posted by sbajaj View Post
                    :-)))

                    I think ATS is a good project in NOIDA - but the day UNITECH GRANDE is delivered ( i hope in another 10-15 years :-)) - it will be the best.

                    Regards
                    Sbajaj
                    Let's say UNITECH GRANDE gets delivered in 10-15 Years.... but before that some better project may come up... So it will not be best. ALL ANTICIPATED HOW MUCH REALIZED.

                    Comment

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