Connectivity of Metro Rail Have Increased the Cost of Property in Noida
Development of new connectivity and job opportunity can add huge significance of a property to an area. It not only offers the opportunity for developers to do more business, but also offers new options for end users. Best of all, it helps to contain rising prices of real estate projects in major city districts.
The developers not only this, the sudden increase in the supply of apartments in this part of the city has forced the central part of Noida or property at Noida extension or in greater Noida have risen since past couple of years.
As the area offers a huge mass of land for development, a number of commercial projects are also coming in the town. A multi-super specialty hospital is being developed by the Metro Hospital in the area. Besides this, many IT companies have come up in the area because of which price of real estate residential property Noida has raised.
The property prices in parts of Noida have risen due to metro link? Interestingly though the capital prices of residential real estate in some sectors of Noida have reached 5-10 percent in the last 3 months, the value of the rentals has shot up incredibly in the same places.
Now, you might wonder why the markets behave in this way. The real estate developer cites the reasons for their own way. “Construction activities within the metro project adversely impact the traffic system around the site. Everyone wants quick and easy access to their properties. Naturally, if a property buyer disputes through detours and traffic jams to get to a property, it will like to buy a certain value.
The trend is corroborated by intensive market research conducted. Take Sector 17, for example. Average prices of residential plots capital levels are lowered Rs 70,000-Rs 80,000 per square meter (PSQM) in October-R 80 000 90 000 Rs frequent in August PSQM. A sharp decline of nearly 12 percent in three months!
Likewise, the capital values of residential plots in the sector fell by 15 percent in September in the period between August and October 2007. And yes, these are the sectors where the construction of the underground infrastructure is underway. The trend is identical in all sectors of the number 14, 14A, 15A, 17, 44 and others in which construction activities are being.
The value of the rents, although increasing significantly in these areas, and an appreciation of between 5 and 15 percent was recorded in the rent per month. “Given the chaos created by the construction of the metro, the main reason behind the increase in rental value is that property buyers are postponing their purchases of properties in Noida, for now and prefer to hire” property consultants says. In the meantime, industry veterans predict that prices will stabilize or continue capital to the south until 2009, when the first phase of metro project is completed, a year before the 2010 Commonwealth Games. Now metro have extended up to Noida city center so more and more people opting to buy property now in Noida for the cost of property in Delhi is very high.
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