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- Originally Posted by pkdch0101Dear 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.
Very Honest Review!!!CommentQuote1Flag
- Most of societies where poss offered in 2016 are 85%+ occupied.137,,77,74,78.CommentQuote0Flag
- Just wait 6-8 months most of expressway societies near metro corridor fully or 80% occupied where Poss offered?CommentQuote0Flag
- With due respect to all your views , opinions and forecast ; try to look at the other side of the coin.....................a good occupancy of 80% , 85% or even 90% in these well connected sectors 7X , 13X , 143 or in Gaur City / Cherry County DOES NOT give a good forecast especially for the sectors that are distal to these areas....
1. Assuming an average of 100 to 120 flats per acre for these high density projects which are 80 to 90 % occupied after 1 to 2 years of delivery means that for an average 18 to 20 acre Project ( having > 1800 flats ) , a whopping 200 to 300 flats are still lying vacant in each of these project in these WELL CONNECTED , DELIVERED societies. Even with a modest assumption of 5 to 6 projects per sector....................this translates to more than 1000 unsold OR unoccupied flats / sector even after 5 to 6 years of them being put up for sale / occupancy ( That is a high number )
2. Just imagine the state of societies and sectors that are / will be distal to these areas.............for example Paramount Golf Forest in GN was launched way back in 2010 / 1011 and got delivered last year..... Out of the 1850 units / villas that it has only 600 to 700 are occupied even after 1 to 1.5 years of delivery translating into an occupancy of around 40%. The occupancy of sectors distal to those in 137 , 7X in NOIDA and distal to Gaur City and Cherry County is and will always be lower than these Better connected sectors
3. The present launches are not Projects but Townships ..............Gaur Yamuna City ( 250 acres) , ATS in YEW ( 100 acres ) , ATS in sec 150 ( 125 acres )......imagine if 10 to 15 % inventories are still lying vacant in these well connected SMALL projects that have been mentioned in the earlier posts after 6 years of launch what will happen to these townships with 10 times the inventories due to come up in the next 5 years........does that portray a rosy picture for Real estate especially in these REMOTE areas ?
You are free to agree OR disagree , I have only enlisted my views.CommentQuote1Flag
- Dear @Grenoite - you are right about retail shops and commercials that they do have a good future, definitely better than the residential component of real estate (and this is the aspect that i have tried to analyse in this thread and not commercials). From your previous posts i gather that you have purchased a shop in Paras. I wish you all the best from the bottom of my heart.CommentQuote0Flag