Q&A 6 August 2023

Torbit - August 06, 2023 - - 0 |
Noida Gate

Of late home prices in the NCR have gone up significantly. I am looking for an apartment of 1000 sq ft and more (2-3BHK) priced up to Rs 1.5 crore in Noida/ Ghaziabad and Gurgaon. Can you please suggest to me some good locations in these cities where I can find homes of my choice?

….Vijay Sood, Delhi

Despite a hike in home prices over the past several months, Noida/Ghaziabad and Gurgaon still offer good prospects for investment. Considering your budget and unit size, there is a fair choice of good lifestyle homes by well-known developers. Besides under-construction homes, you may get some ready-to-move units as well.

Noida/Ghaziabad are comparatively affordable compared to Gurgaon. and you can get 2 BHK homes of 1000-1450 sq ft sizes within Rs 75 lakhs. These homes are available in Sectors 75-78 Noida at Rs 4500-6100 per sq ft, besides Indirapuram and Ghaziabad. Even in Sohna (South of Gurgaon), you can get 2BHK homes within budget, unit configurations and size of your choice at Rs 4200- 6100 per sq ft.  In Noida Sector 93-104, you may get very few options of homes costing up to Rs 1.5 crore as the prices here range between Rs 5800- 11500 per sq ft and the unit sizes are on the higher side i.e 1500-3200 sq ft.

In Gurgaon, you can get 3BHK homes within Rs 1.5 crore on prime locations of SPR, Sector 108-112 Dwarka Expressway. On SPR, 3BHK unit sizes range from around 1500-2100 sq ft and cost Rs 5300-7500 per sq ft. In Sector 108-112 Dwarka Expressway, 3BHK units with sizes ranging between 1590- 2050 sq ft cost Rs 5000-9200 per sq ft. You may get only a few units within Rs 1.5 crore at Sohna Road and Golf Course Extension Road as prices there range from Rs 6700-14000 per sq ft.

But considering that major infrastructure developments are happening in Noida-Ghaziabad and Gurgaon, investing in residential property in these cities is a sound proposition which may well fetch good returns.

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