Conceptualised as an industrial town, Sector 150 falls in the peripheral area of New Okhla Industrial Development Authority (Noida). During the mid-2000s, Sector 150 evolved as an IT hub and subsequently, attracted real estate developments primarily due to effectively-planned layouts. Situated at the confluence of the Yamuna and Hindon rivers, along the bustling Noida-Greater Noida Expressway, Sector 150 is now one of the preferred residential destinations of Noida.
The key factor, which differentiates Sector 150 from other regions, is the presence of massive green spaces. The land use planning of Sector 150 has been undertaken, in a pattern that ensures that 80 per cent of the 600-acre land parcel remains under greenery and only the remaining 20 per cent is allocated for construction activities. Nearly 42 acres of land are dedicated specifically for parks and recreational facilities.
This micro-market is equipped with good social infrastructure, including reputed educational institutions, hospitals and shopping complexes. Sector 150 is currently flourishing with real estate activity and there is a visible rise in residential developments, integrated townships, commercial spaces and mixed-use developments.
Connectivity to Noida Sector 150
Located strategically, Sector 150 enjoys excellent connectivity, not just to the different sectors of Noida but also with other parts of Haryana and Uttar Pradesh.
Road: Sector 150 has easy access to major transport corridors, such as the Yamuna Expressway, Noida Expressway, Faridabad-Noida-Ghaziabad (FNG) Expressway and Eastern Peripheral Expressway. The micro-market also provides smooth access to Indira Gandhi International (IGI) Airport, New Delhi railway station and Connaught Place.
Rail: The nearest railway stations are Ajaibpur and Dadri, 20 kms away. A metro corridor runs between Noida and Greater Noida. The construction of the metro line is complete and is currently undergoing trial runs.
Air: Sector 150 is well-connected and easily accessible from the IGI airport (located 46 kms away) via the Noida-Greater Noida Expressway.
New launches in Noida Sector 150
Over the last five years, Sector 150 has registered new residential launches of around 14,800 units. Around 44 per cent of the supply was added in the year 2015. The significant amount of unsold inventory (8,700 units, as of 2017) has led to a decline in supply in 2016 and 2017, compelling developers to keep a check on new launches and focus primarily on project execution. Less than 10 per cent of the units are ready for possession in Sector 150, indicating limited choices available to home buyers. Around 13,300 units are expected to take more than a year for completion. Amidst the strict RERA regime, developers are now likely to focus more on execution.
Property prices in Noida Sector 150 witnessed an upward trend since 2015, with the average price as of Q4 2017 being Rs 4,900 per sq ft. Despite the low new launches during the past two years, prices have appreciated by around 10 per cent during the same period. With significant infrastructure developments in the region, prices are likely to creep upwards in the future too.
Considering the superlative connectivity, upcoming infrastructure such as the Noida-Greater Noida metro line, ample green spaces, the presence of several corporate offices in the vicinity and availability of residential developments at competitive rates, more home buyers are eyeing properties in this micro-market. The future of Sector 150, Noida is definitely promising.
(The writer is head – research, ANAROCK Property Consultants)