Hi Guys


I have been looking at 112m plots in noida sector 122 (general allotment). I intend to proceed with the shortlisted one and have some queries on how to proceed with the purchase

    What all should I verify before making the booking amount payment
    Is it possible to get a home loan approved in this area.
    Is it possible to pay the booking amount after the home loan is approved ? (The dealers say booking amount needs to be paid for proceeding with the home loan formalities).
    Any suggestions on this part will really be helpful.

    Regards
    Tarun
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  • What is the current price u r getting there?
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  • Originally Posted by taruntiwari
    Hi Guys



    I have been looking at 112m plots in noida sector 122 (general allotment). I intend to proceed with the shortlisted one and have some queries on how to proceed with the purchase

      What all should I verify before making the booking amount payment
      Is it possible to get a home loan approved in this area.
      Is it possible to pay the booking amount after the home loan is approved ? (The dealers say booking amount needs to be paid for proceeding with the home loan formalities).
      Any suggestions on this part will really be helpful.

      Regards
      Tarun



        What all should I verify before making the booking amount payment
        You can check the registry papers & get them verified from Sector 33 Registrar office (Advocate/Banama Lekhak will take around Rs. 500-1000 to verify the details).

          Is it possible to get a home loan approved in this area.
          As these are the Noida Authority plots, bank loan will not be an issue provided u meet the eligibility requirements.

            Is it possible to pay the booking amount after the home loan is approved ? (The dealers say booking amount needs to be paid for proceeding with the home loan formalities).
            I dnt think any seller will agree to this specially in Noida Plot market...they are like hot selling cakes.

            And what rate ur getting for 112 metre plot@sector 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...? 122...?
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  • Thanks for your replies. The rate is between 95k to 1.10k per sq m. Plots on 9m road in C block are cheapest and then the rates increase based on 12m road or corner or park facing etc.

    These are rates heared from dealers and not really negotiated. I am not sure how much negotiation is possible.

    Do these rates sound reasonable ? Is there any other sector with lesser rates and possibility of comming up in next 2 / 3 years ?

    Regards
    Tarun
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  • Originally Posted by taruntiwari
    Thanks for your replies. The rate is between 95k to 1.10k per sq m. Plots on 9m road in C block are cheapest and then the rates increase based on 12m road or corner or park facing etc.

    These are rates heared from dealers and not really negotiated. I am not sure how much negotiation is possible.

    Do these rates sound reasonable ? Is there any other sector with lesser rates and possibility of comming up in next 2 / 3 years ?

    Regards
    Tarun



    Why dnt u go for 5% Kissan Kota plots in resale... u will get a deal in sector 122 for these plots around Rs. 60000/- Per sq metre. They are just across the road and u get 50% commercial in these kota plots. Almost all the kissan kota plots will be resaled... so no point that u will have to live next to villagers.
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  • Two primary reasons for not considering kissan kota plots

    1) They are away from the regular plots and due to un-even sizes the overall colony may not be that good for end user perspective.
    2) They are relatively more risky , as some of them may not yet be transferred.

    My need is not to build a house immediately. Although in 2 to 3 years , I want to ensure that whatever property is available in this price limit , similar value of the money remains in next 3 years.

    With the 112m plots, it looks to me that even if I don't need to sell it off later, still the area and locality will be better to live in.

    Certainly the trade off is that the area is small for the high price being paid.

    Regards
    Tarun
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  • Hey Tarun,just check as you said you want to build in next 2-3 years...still if you are going to buy today ,you have to construct mimimum area as per the rules.i think currently there is penalty going on in sec-122 plots.However,from whom so ever you are buying he will give the penalty for the next 6 months from the date you purchase it.
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  • Originally Posted by taruntiwari
    Two primary reasons for not considering kissan kota plots

    1) They are away from the regular plots and due to un-even sizes the overall colony may not be that good for end user perspective.
    2) They are relatively more risky , as some of them may not yet be transferred.

    My need is not to build a house immediately. Although in 2 to 3 years , I want to ensure that whatever property is available in this price limit , similar value of the money remains in next 3 years.

    With the 112m plots, it looks to me that even if I don't need to sell it off later, still the area and locality will be better to live in.

    Certainly the trade off is that the area is small for the high price being paid.

    Regards
    Tarun



    All Sector 122 kissan quota plots have been transferred... i got a rate of 44000 per sq metre for 88 metre plot around 2 months ago...but now they are asking for 60,000 + rates...thats why i have dropped the plan for plot.

    U can also look for sector 116 plots...i believe they are bit better off location that 122... 116 is just behind sector77.
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  • Thanks Siddarth. I will check for the Penalty requirments also.
    I heared from the dealers that penalty is applicable. I am not aware of the six month grace period, thanks for advising me.

    My intention is to build the minimum required as per penalty.
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  • Originally Posted by search12
    All Sector 122 kissan quota plots have been transferred... i got a rate of 44000 per sq metre for 88 metre plot around 2 months ago...but now they are asking for 60,000 + rates...thats why i have dropped the plan for plot.

    U can also look for sector 116 plots...i believe they are bit better off location that 122... 116 is just behind sector77.


    Are sector 116 general allotment plots a bit cheaper than 122 ? I mean is the rate less than 1Lackh per sq m ?

    Thanks
    Tarun
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  • Originally Posted by taruntiwari
    Are sector 116 general allotment plots a bit cheaper than 122 ? I mean is the rate less than 1Lackh per sq m ?

    Thanks
    Tarun



    I am not sure off the prices of sector 116 as of today... but they were almost similar to 122 around 2 months back.. in my view if the prices are same then 116 will be a better location.
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  • Originally Posted by taruntiwari
    Thanks for your replies. The rate is between 95k to 1.10k per sq m. Plots on 9m road in C block are cheapest and then the rates increase based on 12m road or corner or park facing etc.

    These are rates heared from dealers and not really negotiated. I am not sure how much negotiation is possible.

    Do these rates sound reasonable ? Is there any other sector with lesser rates and possibility of comming up in next 2 / 3 years ?

    Regards
    Tarun

    Hi Tarun,

    Check out in Sec 46... Its already a developed sector and many people are staying there... rates are same... and the reason for cheper rates being Sec 42 in dispute with authority which is in front of Sec 46...

    46 is a good sector well connected to expressway..
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  • sec-46 is extremely good near to expresssway but the rates are more than 1lakh per sq. mtrs.
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  • Is it ??? Good improvement yaar ...

    but I see there are lot of people who are intrested to sell their plots/temp construction houses with a tag of 'For Sale' in front ... so one can negotiate for sure , and with properties like LB coming up fast, it can end up being a good deal
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  • hi,

    I am planning for buying plot in Noida Sector 122 , can someone please help to share complete document list which I should look from owner before giving token to him and what is ideal rate to purchase in Sector 122.

    What other thing need to be considered before buying plot specially in terms of noida and what other expenses I need to bear during transcation and for complete ownership.

    1) Penalty on Plot

    2) Completion certificate etc.
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  • Not a good location.
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