Hi, I have recently shifted to Noida and I am looking for ready to move 2 BHK flat and was looking at Sec 93 MIG flats on weekend. Could someone please suggest if these are good and what should be the current price.

Thanks,
Aman
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  • Stretch a little more and take a 2BHK in Prestige or Grandwoods...power back-up, common area, 24 hrs water is something that would be missing in MIG flats.

    Originally Posted by aman.jind
    Hi, I have recently shifted to Noida and I am looking for ready to move 2 BHK flat and was looking at Sec 93 MIG flats on weekend. Could someone please suggest if these are good and what should be the current price.

    Thanks,
    Aman
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  • Originally Posted by visharor
    Stretch a little more and take a 2BHK in Prestige or Grandwoods...power back-up, common area, 24 hrs water is something that would be missing in MIG flats.

    And better security too
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  • Originally Posted by aman.jind
    Hi, I have recently shifted to Noida and I am looking for ready to move 2 BHK flat and was looking at Sec 93 MIG flats on weekend. Could someone please suggest if these are good and what should be the current price.

    Thanks,
    Aman


    I think this is a decent option - The possession was given 5-6 years back and the society is well-inhabited with end users now. It may not have some options like power backup given by private builders but the location, overall value for money, less maintenance charges and a good neighborhood is very much there. You may want to visit the locality (if not already done so) and check options. I am not 100% sure of pricing but I think GF, FF should be 43-44 Lacs, SF 40-42 TF would be 37-38 Lacs approx.

    R
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  • Thanks Rajat, I visited the society during weekend and found it a decent, no frill place with lot of open area, enough parking, good room sizes & basic amenities. The price being quoted by a dealer is in line with what you suggested. I'll do some more research on nearby builder flats pricing.....Thx Aman.....
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  • Originally Posted by aman.jind
    Thanks Rajat, I visited the society during weekend and found it a decent, no frill place with lot of open area, enough parking, good room sizes & basic amenities. The price being quoted by a dealer is in line with what you suggested. I'll do some more research on nearby builder flats pricing.....Thx Aman.....


    Noida Authority flats are a decent buy . One thing you canbe assured of , Authority will never try and squeeze something out of each sq ft of open area. This is evident if you visit the place ...lot of open space ..parks etc .. Please share the pevailing prices for each floor if you can ..
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  • Originally Posted by aman.jind
    Thanks Rajat, I visited the society during weekend and found it a decent, no frill place with lot of open area, enough parking, good room sizes & basic amenities. The price being quoted by a dealer is in line with what you suggested. I'll do some more research on nearby builder flats pricing.....Thx Aman.....


    Yup good assessment - I know someone close who sold a flat there and is now regretting the decision as he put the money with couple of new societies with pvt builders including 1 in Noida extension and rest we know is history. I think the gentry in these flats is decent and ofcourse no issues in getting a loan to purchase this from any bank if you plan to.

    Do share your findings about other builder flats for the benefit of all of us - omaxe, eldeco, supertech etc although I know these would be approx 30% more expensive. Do remember to check the complete pricing including society charges, maintenance, EDC, IDC etc for sure.

    R
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  • Originally Posted by aman.jind
    Hi, I have recently shifted to Noida and I am looking for ready to move 2 BHK flat and was looking at Sec 93 MIG flats on weekend. Could someone please suggest if these are good and what should be the current price.

    Thanks,
    Aman


    Size:
    All rooms (2) are big enough. Hall is very large compared to any regular 2 BHK from any builder. No hidden area.
    Kitchen is decent enough. Bathroom size is ok ok. Balconies are of regular size. Will not give you much space after you have installed AC, washing machine or Cooler

    Value for Money

    It is a very good buy for end user while can give decent returns for investors in near future. Buying on Ground floor will be better

    Post purchase spending
    If you are buying it for living purpose, you may want to spend a nice amount on interiors provided previous buyer has not done anything. You may want to change bathroom tiles. Installing cupboards, Modular kitchen, Plastic paint etc.

    Positive part is that Society maintenance fee is very less. nominal. Very less compared to thousands that ppl give in private apartments.

    Expansion scope:
    In case you are going for ground floor which I believe would be costlier ( anything around 45 L) you can always expand your carpet area and total area. I have seen many owners doing so.

    Greenery
    It is the most green society I have ever seen. Sometimes it’s so green that it looks like jungle. This though has some advantages and disadvantages both. In summers I being on ground floor and many trees in society rarely use AC, while in winters this can give you more chillzzz. Extra greenery without maintenance looks bad.

    Parking

    You don’t have to buy a parking space. People coordinate and decide about their parking positions. Sometimes this can lead to argument but this is totally dependent upon how you tackle the issue.

    Neighborhood within society and outside

    Class is mixed. We have all classes of MIG representatives. Brokers, Soft Engrs, Govt Officials.
    ATS, Parshvnath etc are nearby socities.

    Future of the area
    Considering LP coming up very fast , I assume this will be a very highly populated and developed area soon. Metro station is also approved nearby. An elevated road from Baraula to Bhangel is also approved by NA.
    Plots are in front of society so a new high rise building apart from what already is there is a distinct possibility.

    Do let me know if you have other questions
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  • Originally Posted by Confused
    Size:
    All rooms (2) are big enough. Hall is very large compared to any regular 2 BHK from any builder. No hidden area.
    Kitchen is decent enough. Bathroom size is ok ok. Balconies are of regular size. Will not give you much space after you have installed AC, washing machine or Cooler

    Value for Money

    It is a very good buy for end user while can give decent returns for investors in near future. Buying on Ground floor will be better

    Post purchase spending
    If you are buying it for living purpose, you may want to spend a nice amount on interiors provided previous buyer has not done anything. You may want to change bathroom tiles. Installing cupboards, Modular kitchen, Plastic paint etc.

    Positive part is that Society maintenance fee is very less. nominal. Very less compared to thousands that ppl give in private apartments.

    Expansion scope:
    In case you are going for ground floor which I believe would be costlier ( anything around 45 L) you can always expand your carpet area and total area. I have seen many owners doing so.

    Greenery
    It is the most green society I have ever seen. Sometimes it’s so green that it looks like jungle. This though has some advantages and disadvantages both. In summers I being on ground floor and many trees in society rarely use AC, while in winters this can give you more chillzzz. Extra greenery without maintenance looks bad.

    Parking

    You don’t have to buy a parking space. People coordinate and decide about their parking positions. Sometimes this can lead to argument but this is totally dependent upon how you tackle the issue.

    Neighborhood within society and outside

    Class is mixed. We have all classes of MIG representatives. Brokers, Soft Engrs, Govt Officials.
    ATS, Parshvnath etc are nearby socities.

    Future of the area
    Considering LP coming up very fast , I assume this will be a very highly populated and developed area soon. Metro station is also approved nearby. An elevated road from Baraula to Bhangel is also approved by NA.
    Plots are in front of society so a new high rise building apart from what already is there is a distinct possibility.

    Do let me know if you have other questions


    Great inputs buddy :bab (4):
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  • Thanks Rajat & 'Confused'.
    I am close to finalise SF unit after I analysed builder flats in vicinity and found it value for money. One big factor I anticipate is the proximity of this society to proposed Metro (if Metro comes...:)
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  • Originally Posted by aman.jind
    Thanks Rajat & 'Confused'.
    I am close to finalise SF unit after I analysed builder flats in vicinity and found it value for money. One big factor I anticipate is the proximity of this society to proposed Metro (if Metro comes...:)


    I assume you mean an SF unit in the authority flats only - GF, FF would be great if you can stretch a bit. What is the rate you are being quoted for this SF...

    Thanks,
    R
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  • Great inputs and analysis.

    Check out the burglary rate and for own use, invest in some heavy duty steel doors and locks.

    Avoid ground floor for own use - maximum disturbance and security threat.

    Good for a short term (3 years) investment. Expect 100% return i.e 0.5-0.6 crore after 3years. Very little maintenance charge - it is a pure investment without much of "cost of carry"

    I continue to be sceptical of DDA and NA type of flats for long term (>15 years). Despite fantastic returns in last 6 months, these are bound to fall out of fashion as people shift to better quality of living
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  • Thanks Venky.
    You are right as I have seen that everyone there have steel doors at front & back in addition to wooden doors.
    Did you mean 50 L value after 3 years (since it is already costing 41-42 L)?

    My personal opinion is that BPL -> Lower Lower middle class -> Lower MC -> MC -> Upper MC.......In indian urban population this cycle would continue with backfilling.
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  • Originally Posted by Venkytalks
    Great inputs and analysis.

    Check out the burglary rate and for own use, invest in some heavy duty steel doors and locks.

    Avoid ground floor for own use - maximum disturbance and security threat.

    Good for a short term (3 years) investment. Expect 100% return i.e 0.5-0.6 crore after 3years. Very little maintenance charge - it is a pure investment without much of "cost of carry"

    I continue to be sceptical of DDA and NA type of flats for long term (>15 years). Despite fantastic returns in last 6 months, these are bound to fall out of fashion as people shift to better quality of living


    Whatever society it is ppl do install iron gates these days. It is common.

    I think security is good. Guards are almost all corners of the society. Have been in the society since long and have heard 1-2 incidents but I assume 1-2 incidents can happen in any society.

    No disturbance at all on ground floor. Please dont generalize your exp to every one. You might have one odd exp and if ground floor is bad ppl wont pay premium for ground floor.

    At least ppl can modify these apartments as per their own needs if one thinks they are falling out of fashion.
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  • Having recently moved to ground floor, I had to strengthen front door, back door, ventilators and all the windows - very expensive initial investment for ground floor. Even after that i feel insecure - because the guys who were fixing it had skills - they would probably take it apart also in about 5 minutes.

    Every time you leave home, you worry about burglary.

    Unlike my earlier 3rd floor flat where you have one entry - spend same amount as on GF but all focussed to strengthen just one entry door and you have no worry. Windows too high - unless circus acrobats

    But for investment of course, GF is the best - because you dont plan to live there, just sell it and move on. So who cares about such things - whatever gives best return is the best and in Delhi GF will always be the best

    Re: Return, I meant your 35 L will probably become about 60L plus in 3 years, maybe even more. After that, it might stand still for some few years as the massive inventory release will probably depress prices for about 7 years. Like Dwarka in the late 90s stood still for long before moving up like crazy
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  • Originally Posted by aman.jind
    Thanks Rajat & 'Confused'.
    I am close to finalise SF unit after I analysed builder flats in vicinity and found it value for money. One big factor I anticipate is the proximity of this society to proposed Metro (if Metro comes...:)


    Whats the quote you are getting for SF and TF ...thanks in advance for sharing ...
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