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Dear everyone , I live in South Delhi and have been searching for a 2nd house ( plot / villa / apartment ) ever since my home loan got over 3 months back . I have searched and analysed Noida Expressway , YEW , GN , NE and would like to share my conclusions and analysis with you
Conclusion No 1 . With so many stalled projects that are behind schedule / unlikely to get delivered / delivered with a pathetic construction quality/ those that have been delivered but are struggling to get COMPLETION CERTIFICATE .............it does not make sense to invest in UC Property IRRESPECTIVE of the builder and RERA
Conclusion No 2. The prices have shown a correction over the last 4 years , Forget about the price hike there has been a correction of anything between 5 to 20%...........with so many more apartments that are to be delivered in the near future and many more to be launched........these regions are highly highly unlikely to give any positive returns on INVESTMENT
Conclusion No 3. I was inclined to buy a house and shift at A SUITABLE TIME after leaving the current house like some of my friends have done...........however what i realised and saw was that their flats quality had deteriorated over time AND the same flat"s price (at which they had bought) had gone down further.
Conclusion No 4. The rentals that these houses and apartments fetch are INSIGNIFICANT ( For example the HIG Independent houses with a Price tag of 1.4 Cr behind ATS Corporate office is available at 12 k for rent ) so the old theory of purchasing a flat and funding a portion of EMI through that rent does not come into the picture.
Conclusion No 5 . Builders in their greed have launched projects at sites that have NOTHING at present . Usually when a new area is taken up for development , there is a locality / neighbourhood within a few kms that has everything ( hospitals / markets / malls / schools / jobs / employment/ Public transport ) and people are willing to travel 3 to 4 kms to save money of buying an expensive house...............this is exactly the reason why NE came up well and got occupied immediately .............BUT as far as Noida Ex Way is concerned ..............I dont see any sense in going beyond sec 143..................People will say that travelling on these expressways is easy and fast but there is practically nothing beyond sec 143 at present till you reach GN / Pari chowk. All these areas in sec 150 / 152 / YEW have been developed in ANTICIPATION of development that is ABSENT PRESENTLY in the more Proximal sectors ( Sec 143 for 150 ..........sec 150 for YEW)................Brokers and Builders have made a lot of promises regarding the development of these areas over the last 10 years BUT the reality is in front of everyone
After 3 months of hard work and a lot of visits to these regions I dropped my decision to INVEST in a 2nd HOUSE...........My advice to all my dear friends would be to analyse the same and buy (1) ONLY a RTM Property and that too (2) ONLY When you plan to shift (3) Definitely NOT for INVESTMENT.
Regards
Conclusion No 1 . With so many stalled projects that are behind schedule / unlikely to get delivered / delivered with a pathetic construction quality/ those that have been delivered but are struggling to get COMPLETION CERTIFICATE .............it does not make sense to invest in UC Property IRRESPECTIVE of the builder and RERA
Conclusion No 2. The prices have shown a correction over the last 4 years , Forget about the price hike there has been a correction of anything between 5 to 20%...........with so many more apartments that are to be delivered in the near future and many more to be launched........these regions are highly highly unlikely to give any positive returns on INVESTMENT
Conclusion No 3. I was inclined to buy a house and shift at A SUITABLE TIME after leaving the current house like some of my friends have done...........however what i realised and saw was that their flats quality had deteriorated over time AND the same flat"s price (at which they had bought) had gone down further.
Conclusion No 4. The rentals that these houses and apartments fetch are INSIGNIFICANT ( For example the HIG Independent houses with a Price tag of 1.4 Cr behind ATS Corporate office is available at 12 k for rent ) so the old theory of purchasing a flat and funding a portion of EMI through that rent does not come into the picture.
Conclusion No 5 . Builders in their greed have launched projects at sites that have NOTHING at present . Usually when a new area is taken up for development , there is a locality / neighbourhood within a few kms that has everything ( hospitals / markets / malls / schools / jobs / employment/ Public transport ) and people are willing to travel 3 to 4 kms to save money of buying an expensive house...............this is exactly the reason why NE came up well and got occupied immediately .............BUT as far as Noida Ex Way is concerned ..............I dont see any sense in going beyond sec 143..................People will say that travelling on these expressways is easy and fast but there is practically nothing beyond sec 143 at present till you reach GN / Pari chowk. All these areas in sec 150 / 152 / YEW have been developed in ANTICIPATION of development that is ABSENT PRESENTLY in the more Proximal sectors ( Sec 143 for 150 ..........sec 150 for YEW)................Brokers and Builders have made a lot of promises regarding the development of these areas over the last 10 years BUT the reality is in front of everyone
After 3 months of hard work and a lot of visits to these regions I dropped my decision to INVEST in a 2nd HOUSE...........My advice to all my dear friends would be to analyse the same and buy (1) ONLY a RTM Property and that too (2) ONLY When you plan to shift (3) Definitely NOT for INVESTMENT.
Regards
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