R
Rohan Verma
posted on 19 MayGreater Noida rent hikes are just insane
Spent the whole Sunday checking out options in Sector 150. Yaar, Gaur City 1 mein rent dekha, it's gone up almost 35% in two years. Landlord ne phir se badha diya, I'm fed up. Kya yeh justified hai? EMI vs rent ka math ab lagta hai buying ki taraf tilt ho raha hai. Kya bolte ho?
#rent-hike#gaur-city-1#greater-noida#emi-vs-rent#rental-market
Comments
It's a tough call, honestly. On one hand, rent is dead money, and EMI builds an asset. But the current interest rates and property prices make buying a big stretch for first-timers. My advice would be to look at your long-term plans. If you're sure you'll stay in Greater Noida for 7-10 years, then buying might make sense. Otherwise, rent might still offer better liquidity despite the hikes.
The rent inflation in Greater Noida is genuinely shocking. My friends in Ajayabpur are also struggling. Is anyone here aware of the current possession status for projects by XYZ Builders in Sector 150? I heard there were some delays, which might be why rental demand is so high there. Any info would be helpful.
Jaise aapne Ajayabpur mention kiya, wahan bhi same scene hai. My brother booked with XYZ Builders in Ajayabpur almost 4 years ago. Original possession was 2 years back, but abhi tak pending hai. Unhone toh penalty bhi nahi di theek se. Builders ke delays ki wajah se bhi log ready-to-move ki taraf bhag rahe hain aur rents up ho rahe hain. Check RERA status properly before considering any project.
Regarding XYZ Builders, I heard their Phase 1 in Sector 150 got possession last year, but Phase 2 is still delayed. The market conditions are a bit sluggish for new launches, but ready-to-move properties are seeing good demand, pushing up both prices and rents.
I faced this exact dilemma two years ago. Rents in Alpha II were climbing like crazy, almost 30% up in 18 months. I decided to take the plunge and bought a 2BHK in Alistonia Estate. EMI is definitely higher than my previous rent, but at least it's building equity. Plus, the appreciation in that area has been decent, so no regrets so far. Just make sure the builder has a good track record.
Bhai, rent hikes are bad, no doubt, but buying is a huge commitment. Have you factored in all the hidden costs – registration, stamp duty, maintenance, property tax? Sometimes rent seems high, but it gives you flexibility. What if you need to move cities in 3-4 years? Then selling becomes another headache.
Exactly! My friend bought a flat and now regrets it because of the maintenance charges and society rules. Rent mein tension kam hai.
Sahi keh rahe ho hidden costs hain, but property value bhi toh badhti hai. Aur agar long term dekho toh eventually EMI khatam ho jaayegi aur ghar apna hoga. Rent toh life-long bill hai.
Totally agree with the OP! My landlord in Sector 150 also hiked the rent by 25% last year. It's becoming impossible to save.
Haan bhai, same experience here in Gaur City 2. Rent badhte jaa rahe hain. Lagta hai buying hi option hai.