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- Devil uncle , you have given a ray of hope to many people. Just need to wait and let the crash come in full swing. 200 Rs crash each week would mean after 25 weeks we can have it cheaper by 5000 Rs meaning people will give it away for free. Good idea and kudos for the excellent topic chosen. LIVE INDIA News channel will be happy to broadcast such news - panache crashing !CommentQuote2Flag
- Smanium, going by your logic, during the 26th week 3Cs will be paying you 200psf to buy their property
200 Rs crash each week would mean after 25 weeks we can have it cheaper by 5000 Rs meaning people will give it away for free.CommentQuote3Flag
- Ha ha...let's wait few weeks more then !CommentQuote0Flag
- These are temporary changes and any seller needing money immediately might lower by 200 Rs but 200 RS LOWER DOES NOT MEAN CRASH OR 3C LOOSING ITS SHEEN !
Even lotus 300 is down but these are temporary phases.CommentQuote1Flag
- Yeah I waiting too... since I backed out of paras deal due to negative sentiments in the market. I believe at least next 2 months rates are not gonna increase rather we could see some decrease.CommentQuote0Flag
- Originally Posted by SmaniumThese are temporary changes and any seller needing money immediately might lower by 200 Rs but 200 RS LOWER DOES NOT MEAN CRASH OR 3C LOOSING ITS SHEEN !
Even lotus 300 is down but these are temporary phases.
What is the resale rate in lotus 300?CommentQuote0Flag
- I am also curious to know....CommentQuote0Flag
- Since demand is low and very few transactions happening I can't say precisely but I heard premium came down drastically for small sizes . I think it is a great product and will appreciate well closer to possession. At present it seems people are preferring Ats or Prateek rather than lotus 300 but it will also pickup soon as luxury flats are in demand in NoidaCommentQuote1Flag
- People booked at below 3000 in Panache. If they exit at 4900; will you say its prices are crashing? If one starts getting any flat in Panache at 4500; it means prices are going down. Few transactions don't mean that overall project is loosing its shine. Investors who wish to shift their investments from one to better will sell at below market prices; yeh toh chalta rehta hai; and buyer in this case should find lucky to close such deals. BTW, the offered unit is in Phase 1?CommentQuote1Flag
- Do we really need this thread? This can be discussed in the ongoing LP thread....CommentQuote1Flag
- Originally Posted by nks.nishantDo we really need this thread? This can be discussed in the ongoing LP thread....
- Without airport, Noida real estate prices crash
Without airport, Noida real estate prices crash
Bindu D. Menon
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Infrastructure development in the region can offset the impact of airport project being shelved.
Realtors invested over Rs 7,000 crore in projects along the Yamuna Expressway hoping to gain from the airport in nearby Jewar that the UP Government has cancelled.
Do real estate projects and infrastructure development go hand in hand? Yes, say realtors on the Yamuna Expressway.
Going by industry estimates, property prices around Noida and Greater Noida slumped by 25-30 per cent after the Uttar Pradesh Government cancelled the greenfield airport project at Jewar in Greater Noida.
The Yamuna Expressway is a fast-lane highway connecting Delhi and Agra via Noida and Greater Noida. Realtors had reportedly invested over Rs 7,000 crore in the zone, hoping to gain from the development there.
Over Rs 10,000 cr invested
Mr Shobhit Agarwal ,Managing Director, Protiviti Consulting Pvt Ltd, says, “The Yamuna Expressway's returns would be linked to a large part on the development of the airport at Jewar and the consequent traffic generated on this highway. Investment in the Yamuna Expressway is expected to be in excess of Rs 10,000 crore. Investments done by real estate developers along the Yamuna expressway will be hit.
“There are already reports of some of them not paying their commitments to the Yamuna Expressway development authority leading to cancellation of allotments. Also, projects being developed or proposed have a lot of consumer investments at an early stage — all these would likely be adversely affected.”
The Uttar Pradesh Chief Minister, Mr Akhilesh Yadav, had scrapped the Taj International Airport in Jewar that was hanging fire since the idea was first floated in 2001.
Mr Manoj Gaur, Managing Director, Gaursons India Ltd, says, “Cancellation of the proposed airport at Jewar will definitely have a huge impact on the market. Many five-star hotels were planned but now it is unlikely that they will come up. Airport at Jewar was much needed as it could have boosted not only the real estate but would have also brought the movement of MNCs to Noida and Greater Noida.”
Prop Equity's Mr Samir Jasuja says, “The announcement may negatively impact prices by 5-10 per cent for projects around and in Greater Noida and Yamuna Expressway. Several projects in this region are around 20 km away from Pari Chowk and availability of basic infrastructure is still a major challenge. Our research shows that prices in Greater Noida have already trickled down by around 3 per cent in the first quarter sequentially from Rs 2,564 (in the fourth quarter of 2011) a sq. feet to Rs 2,492.”
Official sources say that the Government was not keen on clearing the project in Greater Noida because it was too close to the Indira Gandhi International Airport in Delhi. The Aviation Ministry's norms stipulate that a second commercial airport cannot come up within a radius of 150 km from the Delhi airport. Land for the Jewar airport is located about 72 km from the Delhi airport.
Also, leading multinational companies, who had been eyeing development in and around Greater Noida, are now staying clear of investing in the area. Airbus, for instance, has put on hold its plans to set up a factory in Greater Noida.
Mr Sanjay Rastogi, Director, Saviour Builders Pvt. Ltd, says, “This is a big jolt for the job industry as well as the real estate sector. Infrastructure always plays a main role for the development of any particular area. Gurgaon is booming because of the airport and Jewar airport would have done the same to Noida and Greater Noida. Airports should come up keeping in mind the density and infrastructure and not the distance as is the case in India. Residential market will remain stable, but commercial market will be affected.”
However, not all realtors agree that the scrapping of the project is bad for the industry as a whole. Mr Neeraj Gulati, Managing Director, Assotech Realty, says, “We feel it is not going to affect at all. In any case, people had expectation that the delivery of such a task will take very long time. Moreover, Noida has a niche of good infrastructural development and being near to the capital enjoys preferential treatment from all segment of customers
source: Business Line : Features / Investment World : Without airport, Noida real estate prices crashCommentQuote0Flag
- I too feel that there is no need for this thread. But bhai, if you are an end user; take my simple advice; don't wait for prices to go down. Instead look for a better deal and book in a project near to possession in a year or two. Prices will not crash for sure. Yesterday, I was watching Property show on NDTV and believe me the projects they were suggesting in Noida region were all crap. Don't believe these newspapers or TV channels when it comes to RE prices. RE is not like share market in India, people have holding power here. Prices will not crash; Airport has nothing to do with Noida..but its more related to GN.CommentQuote0Flag
- 3C Lotus Panache - Noida - Price movement
It would be good to get any such bargain deals (at lower price) but it does not represent the median price for Lotus Panache. The prices would hold 5500+ closer to possession. I agree with LChand.CommentQuote0Flag
- Prices are NOT Crashing.....Absolutely wrong statement
They are merely settling down
The prices of noida region started gaining momentum THE MOMENT Noida extension got in trouble....as Supply in same segment was Hit
The builders used this oppurtunity to UP their rates in Noida
If I was an Investor in Noida...I would VERY CAREFULLY Watch the region when noida extension matter is coming close to be resolved...
As the moment it gets resolved....Buyers of this segment will DEFINATELY look at it
Noida Premium properties like Lotus 300, Jaypee GC Facing, etc etc will NOT be effected much...as their supply is limited and demand is fairly decent....and Noida extension offers NOTHING in that segment.
If my observations are Correct...Most builders will NOW try to launch Premium or HIG class projects in noida and completely avoid MIG.....as they want to sell at Higher rates....and that can be done with better class of projects only....
They will test the markets slowly..and watch response ...if good demand...they will continueCommentQuote0Flag