Noida: The prices of residential properties in Noida may not have gone down as expected, but they have remained stable in the past 6 months. Is it a sign of correction in the sector and is the right time to buy? Considering the fact that there is a reported increase in the cost of construction and operating expenses at the developers’ end. Probably, this is the right time to buy property in Noida.
According to experts, the prices of multi-storey apartments are likely to increase. Cement prices in the National Capital Region (NCR) were hiked by 10 per cent in the first week of September 2013. Confederation of Real Estate Developers Associations of India (CREDAI). Experts informed further that steel prices have almost doubled in the past couple of years.
Availability of sand, especially in the National Capital Region (NCR), has considerably gone down, due to controversies and subsequent ban on sand mining at many places. Top realty players like DLF, JP Group, Wave Infratech, Paras Buildtech, Eldeco, Assotech Realty, Supertech, Amrapali, etc, are following in the footsteps of New York and London where fashion designers, musicians and artistes use such space for their studios.
Professionals like lawyers, CAs, architects, doctors, etc, are now using them as smart offices, while corporate houses find these very convenient as guesthouses.