Micro-markets that have mixed land use development, availability of high-end, as well as affordable housing projects, superb connectivity and all the necessary amenities in projects, are increasingly being sought-after in the country. Post the Union Budget 2017 announcements, where the affordable housing segment has been awarded infrastructure status, these markets are also witnessing launches in this segment.
Sector 150 of Noida, is one such market, which has witnessed growth in the residential space, in the past one year and offers a variety of options to home buyers. This region enjoys good connectivity with other regions in the National Capital Region (NCR), has properties in a reasonable price range and the presence of a number of reputed builders.
Commenting on the growth potential of Noida’s residential real estate and the new sectors, Rohan Sharma, associate director – research and real estate intelligence service, JLL India, says: “While Noida already enjoyed good connectivity with Delhi, constant efforts have been made to improve and enhance Noida’s accessibility to other parts of the region and to provide seamless movement for the perpetually growing vehicular traffic. From residential projects and integrated townships, to commercial projects, swanky malls and mixed-use developments, Noida is throbbing with activity.”
Upcoming new sectors such as Sector 150 of Noida, is a perfect example of such kind of development.
What does Noida’s Sector 150 offer, for property seekers?
Located at the intersection of the Noida-Greater Noida Link Road, Yamuna Expressway and the Hindon River, Sector 150 is well-connected within the region. The 75-metre-wide road, from Noida-Greater Noida Expressway to Faridabad, passes through Sector 150-152. This road enhances the connectivity of Noida and Greater Noida with Haryana and other parts of Uttar Pradesh.
A regional road linkage has also been proposed between Noida and Faridabad. This road will connect National Highway 2 with the Noida-Greater Noida Expressway near Sector 150, as well as National Highway 91 and further with National Highway 24 near Hapur through a proposed 120-metre-wide road in Greater Noida Phase 2.
The work on the proposed metro station, on the line being extended to Greater Noida from Noida City Centre, is also in full swing. The line will connect Sector 153 and Sector 149 to Noida City Centre and Sector 71.
Crossing the Pari Chowk of Greater Noida, the metro line will then lead to the Delta Sector. The work on this line is expected to be completed by the end of 2017. Brokers in the region point out that the upcoming metro line will drastically reduce commuting time.
The nearby sectors, such as Sector 153 and the Noida-Greater Noida Expressway, offer commercial establishments and retail outlets for day-to-day needs.
The presence of hospitals, educational institutions of international repute in the region and proximity to the knowledge hub of Greater Noida, make Sector 150 an advantageous proposition for buyers. The Noida Authority has also proposed a large area as a recreational green belt, in Sector 150, owing to its proximity to the Hindon River.
Urban development will not happen in this green belt, leaving the sector’s lush green cover intact – a plus for future inhabitants of the sector. A number of projects relating to sports and leisure have also been planned in the sector.
Mix of residential projects
On account of the developments, both, ongoing and upcoming, a number of private development firms have already announced projects in Sector 150. On offer are mostly two and three-bedroom apartment projects in the price range of Rs 42 lakhs to Rs 65 lakhs. Pusta Road in the sector, has seen a lot of residential project development. The increase in the number of completed projects and infrastructure growth, have led to a rise in the average property rates in Noida, as well as the sectors.
While the average price range in Noida has now reached Rs 5,200-5,600 per sq ft in the last one decade, Sector 150’s average residential price range is around Rs 4,400-4,500 per sq ft. The size of apartments on offer range from 1,100 sq ft to as high as 2,000 sq ft.
What lies ahead?
With projects already under construction and nearing completion, the price points in the region are likely to increase further. This is likely to be reflected in Sector 150, as well, in the coming two quarters. Hence, it may be an ideal time to invest and enter the market.