Realty prices in Noida may rise by 15% - The Economic Times

NEW DELHI: The land row in Noida may have been settled, but property prices are now expected to go up by 15-25% in a month. The Noida Authority has to give 5% developed land to farmers - which will deplete all its land resources.

"We will exhaust all our land after giving 5% to farmers. Prices in Noida are bound to rise as there will be no land to give to developers," said Balvinder Kumar, chairman, Noida Authority.

To meet the rising demand for homes, offices and institutions, the authority will now have to consider enhancement of floor area ratio (FAR), he added.

Developers said that the land acquisition act will make it both difficult and costly to acquire new land. "If we buy land at a higher price, we will have to load it on to the buyers. The new policy, if implemented, will increase the cost of apartments steeply," said Shakti Nath, managing director of Logix Group.

At the moment, there is a shortage of clear land in Noida and the few developers who still have undeveloped land with them will cash in on the situation. The executive director of Amrapali Developers, Shiv Priya, said that he expected property prices in the city to go up at least 25% in 10-15 days.

Emboldened by the court decisions in favour of farmers in Greater Noida, farmers in Noida had demanded enhanced compensation for their land, regularisation and development of their abadi lands and 5% of developed land that was promised when land was acquired.

While the demand for higher compensation has not been accepted, the Noida Authority has agreed to other demands. This has put pressure on the authority, which has to now provide for 700 acres of land to farmers. It only has 300 acres of land in its bank that was reserved for housing projects.
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  • I think the discussion has shifted to another point....

    The prices of NE are also bound to be bullish as the projects get clear and banks start to clear loans etc.

    People who were worried a few days back, will now have some reason to rejoice.
  • The only 2 reasons why people look at Noida as a RE destination.

    Fairly good infrastructure

    Cheaper than Gurgaon

    With this Farmer thing is guaranteed that Noida authoritys bank balance will go for a six..meaning very NEGATIVE impact on Infra projects.

    Already in HT today..NA has openly talked about its inability to continue any infra next 1-2 years...infra dev. will take a big hit

    Negative sentiment will effect Commercial market also as MNCs prefer safer regions..not volatile..which is the case with noida right again 1-2 years will see less MNC interest.

    In my opinion...Its better to invest anywhere else for next 1-2 years..make some decent profit and come back to noida after 1-2 years to see if anything shaping up or not
  • All the focus will shift towards expressway . Do not forget if NE was not these all expressway projects would have sold out by now ... after NE issues even projects like Jaypee aman is quoting 3K pSQFT on eway ...with or w/o metro expressway will become the focus point ....Govt may end up marking residentail sectior to the SEZ's sectors along Eway ....GGN is way more expensive unless people go towards Manesar and end up taking 4k PSFT projects with no communication at all . W/o metro etc Noida has way better connectivity ...
  • Prices continue to Rise in Noida

    Despite all the arguments on what is justified for Noida prices are rising!

    Even a Builder with absolutely no credentials like RG Group has raised its prices for RG Residency (120 sector)from 2700 to now 3400 psf in 3 steps within 60 days

    Amrapali and Gaur are also likely to offset massive losses in NE by increasing prices of its projects in Noida

    There will be further increase when plots are allotted to farmers and nothing is left for new projects; Not to mention that Metro plan cancellation will make Expressway and far flung sector plans sour

    Only people to continue enjoying in good and bad times will be BMW's men whose accounts are flush with the 'con of the century' funds
    :bab (4):
  • 7X sectors to gain the most

    The cancellation of metro to expressway sector will directly boon for 7X sectors which are closest to the existing metro.(2 km only)... Just had a call from an agent that all small and big builders increasing 7X price by 250-300 psf shortly. Common dream of owning a house becoming even more diffcult.:bab (38):