Evaluating Elixir Harmony for long-term gains
Did a site visit to Elixir Harmony Apartments in Greater Noida last Saturday. Project is fully completed, which is a big plus for investors like me. Prices are ₹50.40 L–₹75.60 L. I'm trying to figure out the real ROI potential. From my experience, completed projects sometimes have limited capital appreciation left. What's the price movement been like for Elixir Harmony since launch? Has it already given decent returns? Also, rental yield kitna expect kar sakte hain for a 2 BHK, say 1200 sqft? I'm targeting a solid 4-5% net. Lastly, resale market kitna liquid hai? I don't want to hold a property that's tough to offload in 5-7 years. Any insights on secondary market activity and buyer profile? What's your take on its long-term wealth creation potential?
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My friend bought a completed project in Noida Extension a few years back, thinking it was safer. While he got possession instantly, the capital appreciation has been very slow. He's barely seen 10-15% growth in 5 years. Rental yield is also around 3% net. For long-term wealth creation, sometimes a well-vetted under-construction project with a good builder can give better returns, despite the risks. Just my two cents from his experience.
The price range mentioned, ₹50.40 L–₹75.60 L, seems a bit high for a 2006 project unless it's exceptionally well-maintained and in a very prime spot. What's the per sqft rate coming out to be for the 1200 sqft unit you're eyeing? That would give a clearer picture.
Yeah, I agree. I recently checked out some resale flats in the vicinity, and for that price, you could almost get a 3BHK in some good societies that are 5-7 years old. The ROI on Elixir Harmony might not be as great as you'd hope for given its age and current asking prices.
U4 makes a good point. A 1200 sqft 2BHK at ₹75L is like ₹6250/sqft. For a 2006 project, that's definitely on the higher side in Greater Noida, even with current market conditions where prices have gone up a bit. You can find newer projects in areas like Ajayabpur for similar or slightly higher rates.
Elixir Harmony is okay, but I've heard mixed reviews about maintenance after so many years. Plus, 55 units only, that's a small society. Small societies sometimes struggle with corpus funds for major repairs. Just something to keep in mind.
I'm also looking in Greater Noida, and this sounds like a familiar dilemma. Completed projects give peace of mind, no builder delays, but the price is usually premium. Did you check out any other projects in Alpha II or near Alistonia Estate? Might give a better comparison for current market rates.
U2, you're right. I visited a few projects near Alpha II. The price difference between new launch and completed projects is significant. Builders also give better payment plans for new launches. It's a tough choice for first-time buyers like us.
Did a site visit to Elixir Harmony Apartments in Greater Noida last Saturday. Project is fully completed, which is a big plus for investors like me. Prices are ₹50.40 L–₹75.60 L. I'm trying to figure out the real ROI potential. From my experience, completed projects sometimes have limited capital appreciation left. What's the price movement been like for Elixir Harmony since launch? Has it already given decent returns? Also, rental yield kitna expect kar sakte hain for a 2 BHK, say 1200 sqft? I'm targeting a solid 4-5% net. Lastly, resale market kitna liquid hai? I don't want to hold a property that's tough to offload in 5-7 years. Any insights on secondary market activity and buyer profile? What's your take on its long-term wealth creation potential?
Resale liquidity for older projects in Greater Noida can be tricky unless it's a prime location or very well-maintained. The buyer profile is usually end-users looking for immediate move-in rather than investors. Capital appreciation for completed projects is usually slower, more stable growth, not the rapid jumps you see in under-construction ones.
Agreed with U6. 2006 possession means most of the initial boom is over. For a 2BHK, 1200 sqft, in that area, expecting 4-5% net rental yield is ambitious. Gross toh shayad mil jaaye, but after maintenance, property tax, and other expenses, net will be lower, maybe 3-3.5%.
Bhai, Elixir Harmony toh kaafi purana project hai na? Possession toh 2006 ka hai. For a project this old, capital appreciation ka scope thoda limited hi hoga. But location is decent, especially if you consider its proximity to Alpha I.