Political Uncertainty Affects Sale of Property in Noida

Policy uncertainty is looming large over Noida's property market in light of the coming elections. With the change in political faces, the existing policies are expected to experience a sea change. As it happens every time at the time of elections, the existing government refrains from taking any change in current policies or implementation of new ones. Noida's realty scenario is undergoing the same scenario currently. This has resulted in almost stagnant prices of properties in the city. From last 6-7 months, the prices have not seemed any significant appreciation.

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Investors who intended to carry our Noida property deals are now keen on keeping their plans on hold. Those with large deals are playing it safe and have no plans to execute their plans anytime soon. The developers and builders too do not want to take any risk. So, many of them have not launched any realty projects. Until the elections are over, this stagnant phase will continue.

The properties in Noida are already facing tight liquidity issues. Like other metropolitan cities, Noida too has a heap of unsold inventories. The recent measures taken by Reserve Bank of India (RBI) have further added to the woes of sellers. This is another reason why corporate investors are turning backs from large deals.

At present, property in Noida is relatively affordable if compared to other Delhi NCR regions. Noida Extension and Yamuna Expressway are particular heeded as affordable localities. It is the cheap ticket rates that is the biggest draw for buyers who intend to buy properties in these two localities. Yamuna Expressway, shall be completed in several phases: while in the first phase, Greater Noida shall be connected to Taj International Aviation Hub, in the second, the expressway would be further extended to Agra. This six-lane, high speed stretch is expected to improve the connectivity and reduce the time taken to commute between Greater Noida and Agra.

Let's have a glimpse on the price rates of residential properties in prime localities. Let's consider a 2 BHK flat for sale. Over Noida Extension and Yamuna Expressway, such an apartment carries the starting price in 10-15 lakh bracket. Budget apartments can also be expected in sector 76, 77, and 34: a two bedroom flat is available with starting prices centered around 25-40 lakh segments. The higher rates are prevalent in sector 82, 61, and 93; expect the rate to be 50 lakh onwards across these areas.