Often, connectivity is the biggest bet for any real estate destination, even as other key factors like infrastructure and surrounding amenities play a vital role in making a region an investment hub. Boasting all these, to varying degrees, Sectors 74-82 of Noida have been attracting homebuyers, tenants, and investors for a few years now.
Experts say that connectivity is the prime reason for the allure of these areas. “Noida’s central sectors are among the older and well-developed area with excellent road connectivity to various parts of the city, real estate development by prominent builders, and proximity to economic hubs like the Noida Special Economic Zone,” Santhosh Kumar, vice-chairman of Anarock Property Consultants, said.
Even developers echo Kumar’s view. “These sectors in Noida have emerged as a new real estate hub in last few years. The sound infrastructure, excellent connectivity and affordable prices are key factors attracting property investors towards these regions of the city. With the time, the connectivity is going to stronger as metro project in the region is almost finished and soon it will be operational for commuters,” says Dhiraj Jain, director, of Mahagun Group.
These sectors are well-connected with sector roads connecting Sector 63 and National Highway 24, and sector roads that connect with Delhi-UP Link Road originating from Central Delhi. The ease of commuting makes it convenient for commuters and residents of these sectors.
Owing to direct and easy connectivity, these sectors have well-established social infrastructure.
WHAT IS ON OFFER?
Data from Anarock shows that between 2013 and 2018, around 57,000 units were added to the Noida region, of which 32% came in the central sectors, indicating this region’s dominance in the city’s residential real estate development.
“With dominant mid-segment residential real estate development ranging between Rs 40 lakh and Rs 80 lakh, the central sectors of Noida attract lot of junior to mid-level professionals to buy houses here,” Santhosh Kumar of Anarock said.
These sectors continue to offer units of all sizes to actual buyers, tenants, and investors. While some have projects by private builders, others offer apartments and society flats by the Noida authority.
On offer are 1-, 2-, 3-, 4-, and 5BHK units in the price range of Rs 4,500-5,500 per sq ft, often with some discount. “Builders have enough inventory and due to this they are eager to give discounts,” Sunil Kumar, a local broker, says. Completed projects have a premium, compared to projects under construction.
Some of the well-known firms with projects in Central Noida are: Supertech, Ajnara, Mahagun, Civitech, Gaur Group, Sikka Group, Lotus Greens, Sunshine Infrawell, Civitech Group, Express Builders, and Stellar Group.
STRONG RENTAL MARKET
Owing to the completed projects, these sectors have a strong rental market. A 2BHK of 900-1,100 sq ft comes in the range of Rs 13,000-20,000 per month.
Deepak Kapoor, president of Credai-Western UP and director of Gulshan Homz says: “Sentiments in the Noida market has been stabilizing after major reforms like RERA and GST. A slight dip in new launches was seen in the last 1-2 years, as developers focused on finishing projects first. Also, because of the stringent norms of RERA, the market became more end-user centric, which stabilized property prices in the last one year.”
Going forward, developers say that the central sectors will see a price jump due to the overall infrastructure development. “The sector is now gearing up and the first quarter of this year has shown a revival of the sector,” Kapoor said.
“Any investment here guarantees returns of 40-60% in next 4-5 years,” Dhiraj Jain of Mahagun Group said.