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Deepak Jha
posted on 23 AprUnder Construction corridor: Buy now or wait?
Honestly, I'm confused about Noida property. Under Construction corridor ke rates ka kya scene hai? Last 1-2 saal mein kitne badhe? Abhi lena sahi hai ya wait karu for ROI?
#under-construction#noida-property#price-trend#first-time-buyer#roi
Comments
U1, what did you decide finally? Did you find any promising projects?
U3, that's a common trick. My friend paid 5L extra for a 'park facing' unit only to find a transformer in front of his balcony later. Read the fine print of the agreement very carefully.
So, to summarize for U1: If you want to buy, don't wait indefinitely, but don't rush either. Research the builder, location, RERA status, and read all documents. And be mentally prepared for some delays. Best of luck!
U6, that's a solid summary. The Noida real estate market is maturing, but it still has its share of risks and rewards. It's not a 'get rich quick' scheme, but steady growth is probable for well-chosen assets.
Has anyone here actually managed to get compensation from a builder for delayed possession through RERA? Or is it just a theoretical provision?
U8, yes, I know a few people who got compensation, but it's a long, tedious process. Builder tries to settle outside RERA with some token amount. The real battle is for the interest on delayed payment.
U8, I got it. After 1.5 years of fighting. It was like 7% interest on the amount paid for the delay period. Not much, but better than nothing. You need to be persistent and have all your documents in order.
U1, it all boils down to your risk appetite and financial planning. If you need it for self-use in 2-3 years, ready-to-move might be safer. If you're an investor with a longer horizon, under-construction can give better entry points. What's your primary goal?
Thanks everyone for the insights! Bahut kuch clear hua. So basically, good builder + RERA check + long-term view. Will definitely look into Sector 150/152 more closely now.
U1, also consider the amenities promised vs delivered. Many builders cut corners on clubhouses, swimming pools, etc. once they have your money. Visit completed projects of the same builder if possible.
U2's point is so valid. My society's gym is still empty, no equipment. Maintenance charges poore le rahe hain. Builder ne bola tha ki 6 mahine mein ho jaega, ab 2 saal ho gaye. It's a nightmare.
Aur haan, hidden charges ka bhi dhyan rakhna. Parking, club membership, PLC (Preferential Location Charges) — ye sab add hoke total cost badha dete hain. Builder se break-up of costs mangna pehle hi.
Wait mat karo, rates are only going up. Noida is developing rapidly. Especially the areas near the upcoming film city. That's a huge economic driver. Buy for long-term (5+ years) and you won't regret it.
U15, I'm not so sure. The current price surge seems a bit speculative. Many investors are buying, not end-users. If the supply of ready-to-move-in flats increases drastically in the next 2-3 years, prices might stabilize or even see a small dip. What's the rental yield like in these new sectors? That's a better indicator of real demand.
U16, you've hit the nail on the head. Rental yields are still low, around 2-3% in most new projects. That shows the market is still investor-driven. End-user demand is there but not enough to justify the rapid price jumps. Caution is advised.
U17, but the rental yield will improve once the infra completes, right? Like schools, hospitals, commercial spaces. Noida mein abhi bahut kuch aana baaki hai. It's a long game. Plus, with rising interest rates, EMI vs Rent is a tough call for many. Some prefer to rent out and wait.
Mera personal experience hai, 2020 mein maine 1600 sqft apartment 65L mein liya tha Sector 78 mein. Aaj uski value 90L+ hai. If you have done your research and the builder is reputed, under-construction is a good bet for appreciation. But be ready for minor delays.
Meri ek friend ne Sector 107 mein liya tha 2 saal pehle. Builder ne 6 mahine mein possession de diya. So not all under-construction projects are bad. It's about due diligence. RERA website pe sab details mil jaati hain. Project completion history, penalties, everything.
U10, RERA is a good start, but not a foolproof solution. Builder often manipulates completion dates on RERA. Best is to visit the site, talk to existing buyers, check forums like ours! Aur haan, builder ka financial health bhi dekho. Many projects stuck because of funding issues.
As an NRI, I'm finding it hard to monitor progress from abroad. Any advice on how to keep track without flying down every 3 months? The agents just send glossy brochures, not actual site pics.
U12, that's a common problem for NRIs. Find a trusted local contact or a property management firm. Some builders offer live webcam feeds or regular photo/video updates, but verify if they are genuine. RERA quarterly reports are also helpful.
U12, I'm in the same boat. My brother lives in Delhi, so he visits the site sometimes. But even he gets fed up. Best is to invest in a ready-to-move-in property, if budget allows. Less headache, immediate rental income if you plan to rent out.
Honestly, I'm confused about Noida property. Under Construction corridor ke rates ka kya scene hai? Last 1-2 saal mein kitne badhe? Abhi lena sahi hai ya wait karu for ROI?
Bhai, market mein demand hai abhi. Rates toh badhe hain, especially in sectors near the expressway. Last 1.5 years mein 15-20% appreciation toh minimum hai achhe projects mein. If you wait, you might pay more. But choose wisely, not all builders are equal.
Totally agree with U2! Mera cousin bhi yahi soch raha tha 6 mahine pehle, ab usko 10-12L extra dena pad raha hai for the same size flat. Under-construction ka risk hai, but reward bhi hai if you pick the right one. Just check builder's track record and RERA status properly.
Track record is key! Humne bhi 2018 mein liya tha, builder ne 2 saal late kar diya possession. Interest ka interest bharte reh gaye. Abhi bhi finishing issues hain. Itna frustration hota hai na, kya bataun.
Haan, U4 ki baat sahi hai. My brother bought in Sector 150, promised possession in 2021, abhi tak koi sign nahi. RERA mein complain kiya hai but process is so slow. Equity market mein daal dete toh double ho jaate paise. ROI ka toh pata nahi, mental peace zaroor chali jaati hai.
U5, which project in Sector 150? I'm eyeing a couple of projects there. Rates have jumped from 5k/sqft to 7k/sqft in just a year for some. Is it sustainable or just a temporary boom?
U7, I agree. Noida is still relatively undervalued compared to Gurgaon. Plus, the upcoming metro extension and dedicated freight corridor will boost logistics and industrial growth, which means more jobs and more housing demand. It's not just a 'boom', it's planned growth.
U6, sustainability depends on the builder and the actual development. Many projects are just shells. Check the financial health of the builder. Some big names are highly leveraged. Don't just go by location, builder ka homework karo.
U6, Sector 150 is definitely a hotspot. Sports city concept, connectivity to Jewar Airport, and proximity to Delhi via expressway are driving factors. I think it's sustainable in the long run. But short term, maybe a slight correction is possible post elections. Depends on your holding period.