Noida, Greater Noida and Gurgaon have emerged as the top most profitable localities to invest in Noida. They have said to reap the most appreciation in the next few years. Home buyers are sure to gain nearly double of their investment in this region. However buying property in Noida or flat for sale in Noida has become a pricey affair now.
Realtors will levy additional charge for property in Noida if recent reports are to be believed. About 6.5 lakh home buyers have to shell out more money for their real estate investment. Noida Development Authority has planned to recover the INR 1800 crore from builders. This additional charge will be levied on old as well as new homes in the region. The Development Authority has given INR 1800 crore as hiked 64% land compensation to villages during land acquisition. The villagers comprised of around 39 villages in Noida and Greater Noida region. This was because of the order passed by the Allahabad court in the year 2011.
"We are working to figure out as to how much amount we should charge from realtors to recover Rs. 1800 crore distributed to farmers as per HC order," said Pramod Kumar Agarwal additional chief executive officer, the Noida authority to Hindustan Times. Not only builders but the authorities will charge this amount to many other land allottees in the region. There are about 30,000 people who were allotted land in the region. And nearly 34000 flat owners in the region itself. This is a big amount and a big number to deal with. How successful this new proposition is that only time will tell.
Home buyers in the Noida region have been highly enthusiastic booking a number of flats for sale around the city. There are roughly 5 lakh home buyers who have booked new apartments in the region. They will also have to pay a higher prices for their property in Noida. Being of one the most sought after locality Noida and its Extension home buyers are said to be willing to pay this additional charge. The property in this region has good capital value and resale value as well. Therefore it is a very profitable investment option. However the extra charges that the home owners and buyers will shell out will reflect in the increase in capital value and resale value of the project. These two will also show a significant change.
Not only sale values but rental values will be a huge change. The rental of apartments in Noida is said to go up as the owners are now investing more money to retain their properties. "A buyer will have to pay Rs. 70-100 per sq ft. in Greater Noida. City rates are yet to be finalized. A flat owner of 1000 sq. ft area house in Greater Noida will have to pay Rs. 50-60, 000 more on possession," said Manoj Gaur of Gaursons to Hindustan Times. Only the next few years will tell us how the real estate activity is affected by it.
Realtors will levy additional charge for property in Noida if recent reports are to be believed. About 6.5 lakh home buyers have to shell out more money for their real estate investment. Noida Development Authority has planned to recover the INR 1800 crore from builders. This additional charge will be levied on old as well as new homes in the region. The Development Authority has given INR 1800 crore as hiked 64% land compensation to villages during land acquisition. The villagers comprised of around 39 villages in Noida and Greater Noida region. This was because of the order passed by the Allahabad court in the year 2011.
"We are working to figure out as to how much amount we should charge from realtors to recover Rs. 1800 crore distributed to farmers as per HC order," said Pramod Kumar Agarwal additional chief executive officer, the Noida authority to Hindustan Times. Not only builders but the authorities will charge this amount to many other land allottees in the region. There are about 30,000 people who were allotted land in the region. And nearly 34000 flat owners in the region itself. This is a big amount and a big number to deal with. How successful this new proposition is that only time will tell.
Home buyers in the Noida region have been highly enthusiastic booking a number of flats for sale around the city. There are roughly 5 lakh home buyers who have booked new apartments in the region. They will also have to pay a higher prices for their property in Noida. Being of one the most sought after locality Noida and its Extension home buyers are said to be willing to pay this additional charge. The property in this region has good capital value and resale value as well. Therefore it is a very profitable investment option. However the extra charges that the home owners and buyers will shell out will reflect in the increase in capital value and resale value of the project. These two will also show a significant change.
Not only sale values but rental values will be a huge change. The rental of apartments in Noida is said to go up as the owners are now investing more money to retain their properties. "A buyer will have to pay Rs. 70-100 per sq ft. in Greater Noida. City rates are yet to be finalized. A flat owner of 1000 sq. ft area house in Greater Noida will have to pay Rs. 50-60, 000 more on possession," said Manoj Gaur of Gaursons to Hindustan Times. Only the next few years will tell us how the real estate activity is affected by it.
Courtesy By :- http://www.sooperarticles.com/real-estate-articles/apartments-noida-have-become-profitable-investment-option-1355392.html
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