Rates of Plots in Chi-Phi,Greater Noida

[Siddharth Goel]

What will be rates of 750-1000 Sq.Mt Plots in Chi-Phi,Greater Noida? , Do any one want to sell......One of my friend want to purchase a plot there ....Please Contact 9953432416 

Siddharth

[Safal Suri]

 

 

Dear Mr. Goel,

 

The going rate for 750/764 sq. mt. plots (with completion) and 1,000/1,022 sq. mt. plots (with completion) starts about Rs. 28,000 - Rs. 30,000 per sq. mt., for general location. That said, not many properties are available for sale. To the best of my knowledge only 2-3 properties in 750/764 sq. mt. category and 5-6 properties in 1,000/1,022 sq. mt. category are available for sale.

 

Hope this helps,

 

Safal Suri

[Siddharth Goel]

Thanks Mr.Suri,

Well Could you help me in buying a good located plot there......

Sid

[Jimmy Khera]

Dear Mr. Safal,
kindly also plz. let me know the price of 300 sq.
meter
plot in P-6 greater noida.I am discussing for the transaction of a
300
mtr. plot from one of my known person.
thanks

[Amit]

Dear Jimmy,
I am letting you know the prevalent rates of
nearby area from what I know (a frnd of mine is looking for 200sqm
plot and I also go with him) :

P3: for a 200-sqm plot (completion done) minimum asked price was
71-72Lacs, for a park facing asking price was 79 Lacs in A block.
(5-4) plots available for sale in 200 sqm category

P4: No plot was available in 200 sqm category

P7: There is one Pepsi colony there, here asking price was 60Lacs for
a 200sqm plot, but mind u there was no single green space in pepsi
colony

now coming to P6 here we have IFS colony, NTPC and NSG:
layout of IFS colony is good so I THINK a 200 plot should be AT LEAST
of same value as P3, however there are no 200 sqm plots there, but we
can judge the value w.r.t P3 taking into account 300 plots are cheaper
than 200 (rate per unit)

layouts of NTPC and NSG seem to be avg so rates there can be similar
to Pespi colony, but i am not sure.

Also to add asking rates of a 200 plot in swarn nagri are 40k for a
general plot in block B (and there were only 2-3 lots for sale).

Dear safal ji,
can u pls let u know why not many plots are available for sale, is it
cyclical phenomenon (due to investors holding on) or that end users
have bought these plots and are waiting for some more development
before moving in. Also I would request you to tell us if opening of
YE will have some gud affect on this area ,
not necessarily in terms of premiums, but actual development.

thanks,
Amit

[Jimmy Khera]

Thanx Amit,
for very valueable info.
great help.

[Safal Suri]

Dear Mr. Khera,

There are 3 societies in P6 (Pocket 6)... Indian Foreign Services (IFS)
Society, Black Cat (NSG) Enclave and Anandam Sahakariawas Samiti.

Please name the society are you referring.

Regards,

Safal Suri

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[Safal Suri]

 

 

Dear Amit,

 

You are correct about the market prices. Looks like you have done quite a bit of searching recently.

 

Now seems to be appropriate time to inform members regarding present/current developments in Greater Noida. Broadly speaking Greater Noida is finally beginning to take shape of a city, although still in early stages. Here I'd like to clarify... I don't mean city shaping up physically... that it did quite a long back and pretty nicely... I am talking about demographics shaping up. We all know, like all other cities, Greater Noida is divided in 4 broad categories... Residential, Commercial, Industrial and Institutional. My reference is to sub-divisions taking place in residential arena.

 

Phase I of Greater Noida can be divided in three zones, North, Central and South. Each zone has Residential, Commercial, Industrial and Institutional spaces.

 

North Greater Noida, popularly known as Noida-Extension used to be dominated by Industrial areas, majority of such areas were later converted to High Density Residential Area (Group Housing Plots). There was a lot of controversy and we all quite well know about recent history of this area.

 

Central Area is mainly Industrial in nature, with many villages, most dominant being Dadri.

 

South Greater Noida is what we know the best (most famous)... area dominated by residential, industrial and institutional areas. There are dozens of famous residential sectors... Alpha 1 & 2, Beta 1 & 2, Gamma 1 & 2, Delta 1, 2 & 3, Swan Nagari, Omaxe NRI, Jaypee Greens, Sigma 1, 2, 3 & 4, Sector 36, Sector 37, Zeta 1 & 2, XU, MU and Omega sectors, Builders Area and Chi-Phi Extension, etc. Then there are famous industrial sectors... Site IV, Site V and Echo-tech Sectors. Also, there are many institutional sectors... Knowledge Park 1, 2 & 3, Tech Zone, etc.

 

Recently demographic differences are beginning to show. Oldest residential sectors (North of Jaypee Greens), such as Alpha 1 & 2, Beta 1 & 2, Gamma 1 & 2, Delta 1, 2 & 3, came into existence during 1990-2000. Early settlers were mainly locals (mostly villagers) and people from nearby towns of Noida, Dadri, Bulandshahr and Aligarh. These sectors have vast supply of small plots such as 60 sq. mt., 80 sq. mt., 100 sq. mt., 120 sq. mt. and 150 sq. mt. These were the first to sell and first to get habituated. Since locals weren't rich, most couldn't afford bigger plots then. Even today... given higher affordability, most locals and people from Bulandshahr and Aligarh, move in these sectors... although now preferred size are 150 sq. mt., 180 sq. mt. 200 sq. mt., 220 sq. mt. and 250 sq. mt.

 

Next to develop were sectors south of Jaypee Greens. Most famous at that time were Omaxe NRI (also known as Omega II or Pocket 1), then Swaran Nagari, Sigma 1 & 2, Sector 36, Sector 37 and Sigma 3 & 4. Most allottees here sold their properties within months of allotment and majority buyers were from Delhi.

 

Finally south west sectors started to shape, sectors such as Builders Area (Pocket 2, Pocket 3, Pocket 4, Pocket 5, Pocket 6, Pocket 7 and Pocket 8) and Chi-Phi Extension. Builders area, with exception of Pocket 3 and some parts of Pocket 4, was mainly allotted to private societies and builders. I have attached a PDF file displaying exact location of each society and builder. Then came Chi-Phi Extension, comprising of five sectors... Chi-03, Chi-04, Chi-05, Phi-03 and Phi-04. Due to two main reasons, locals and low net worth individuals/families stayed away from both areas (Builders Area and Chi-Phi Extension). First reason for locals staying away was that almost all societies had a lock in period wherein the individual owners couldn't sell till certain time limit. In some societies the time limit has now expired wherein some societies still have some time left. However, in the meanwhile the prices jumped in this area and most locals now avoid exploring in this area. Second reason being that most plots in Builders Area and all plots in Chi-Phi Extension are large plots, which makes them more expensive and less attractive to locals. The result... most property owners in Builders Area and Chi-Phi Extension are either from Delhi, Noida, Gurgaon or other big cities of North India.

 

There is another dimension. Till recently... about 2-3 years back... the prices in other cities of NCR were still affordable... but now they have become extremely expensive. Even areas like Indirapuram, Vaishali, Kaushambhi, Vasundhara, Faridabad and Sonipat have become extremely expensive for first time buyers and common man. Except Greater Noida, there is no other place in and around south of Delhi that is liveable and still affordable. Thus, now people have started to move to Greater Noida in increasing frequency. Last 8 odd months (since Sept-Oct last year) have witnessed increasing number of people moving to Greater Noida. Depending on finances and other priorities, people have started to settle all across the city. Ask any dealer dealing in rental properties and he will inform you that there has been 20% to 25% jump in rentals across variety of properties. The trend is expected to continue for years to come (especially with weak economic conditions, most people look to save cost by moving into cheaper accommodation).

 

As far as the Builders Area and Chi-Phi Extension is concerned, due to reasons I have explained above AND because both these areas are right at entry point of Greater Noida and on Yamuna Expressway, most people buying properties and moving in on rentals are not locals but from Noida and Delhi. Soon this area will become fastest developing area in Greater Noida.

 

Now lets get to first part of your question...

 

“can u pls let u know why not many plots are available for sale, is it cyclical phenomenon (due to investors holding on) or that end users have bought these plots and are waiting for some more development before moving in.”

 

There is a good mix of end users and serious mid & long term investors in Builders Area and Chi-Phi Extension. In Builders Area, most end users were waiting for commercial in Pocket-2 to develop before moving in. Recent shifting of Yamuna Expressway Authority, opening of few general stores & restaurant/food joints, and operational hospital, with 4 more hospitals under construction/renovation and expected to open soon, Builders Area is just about ready to take off and it might before first Delhi style developed area in Greater Noida. As far as Chi-Phi Extension is concerned, apart from 1495 authority allotted residential plots, there are 6 Group housing plots, and 4 out of them are now almost 30% to 70% occupied. There is delay in people starting construction on residential plots due to delay in supply of water and construction of Commercial space. It is expected that supply of water will start by last quarter of this year. Commercial space will take longer to develop, maybe another 2-3 years.

 

Hope that answers the first part. Now the second part...

 

“Also I would request you to tell us if opening of YE will have some gud affect on this area, not necessarily in terms of premiums, but actual development.”

 

Opening of Yamuna Expressway will act as booster on steroids. Within months (max year or so) of opening of the expressway, significant increase in population is expected in Builders Area. At the same time, Chi-Phi Extension is expected to fetch higher value with each passing month (may take another 3 odd years to become 30%+ habituated). As Yamuna Expressway becomes operational and due to increase in population in Builders Area (mainly from Noida and Delhi), it is expected that development will catch up and increasing number of commercial outlets will evolve. Also, the opening of Grand Vanezia Mall, just behind Pocket-3 is expected to add fuel to fire and significantly increase interest in this area.

 

Dear Jimmy and Amit... I’d suggest both of you fasten your search for appropriate property in this area as prices are very reasonable right now. It is expected that once Yamuna Expressway is operational (by Sept-Oct this year), there will be flood of interest in this area, which will definitely influence population and price growth.

 

Hope this answers most of your queries.

 

Regards,

 

Safal Suri

 

 

 

 

 

-----Original Message-----

From: Amit

Sent: Tuesday, May 15, 2012 9:44 AM

To: YEIDA

Subject: [YEIDA:21558] : Re: : Rates of Plots in Chi-Phi,Greater Noida

 

 

Dear Jimmy,

 

I am letting you know the prevalent rates of nearby area from what I know (a frnd of mine is looking for 200 sqm plot and I also go with him):

 

P3: for a 200-sqm plot (completion done) minimum asked price was 71-72 Lacs, for a park facing asking price was 79 Lacs in A block. (5-4) plots available for sale in 200 sqm category

 

P4: No plot was available in 200 sqm category

 

P7: There is one Pepsi colony there, here asking price was 60Lacs for a 200sqm plot, but mind u there was no single green space in pepsi colony

 

now coming to P6 here we have IFS colony, NTPC and NSG: layout of IFS colony is good so I THINK a 200 plot should be AT LEAST of same value as P3, however there are no 200 sqm plots there, but we can judge the value w.r.t P3 taking into account 300 plots are cheaper than 200 (rate per unit)

 

layouts of NTPC and NSG seem to be avg so rates there can be similar to Pespi colony, but i am not sure.

 

Also to add asking rates of a 200 plot in swarn nagri are 40k for a general plot in block B (and there were only 2-3 lots for sale).

 

Dear safal ji,

 

can u pls let u know why not many plots are available for sale, is it cyclical phenomenon (due to investors holding on) or that end users have bought these plots and are waiting  for some more development before moving  in. Also I would request you to tell us if opening of YE will have some gud affect on this area, not necessarily in terms of premiums, but actual development.

 

thanks,

 

Amit

 

 

 

[Sunil Kumar]

Safalji thanks for your valueable insights. How much does a 350 mt
plot cost in Alistonia? Is it worth buying at todays price?

> Amit- Hide quoted text -
>
> - Show quoted text -

[Amit]

Dear Safal,
thanks a ton for your comprehensive analysis

regards,
Amit

[Safal Suri]

Dear Mr. Kumar,

There are 4 sizes of plots in Chi-Phi Extension. 350 sq. mt., 500 sq. mt.,
750 sq. mt. & 1,000 sq. mt.

350 sq. mt. plots are in two blocks... Techoma and Chorosia, 500 sq. mt.
plots are in Alistonia, Largerstromia and Ebony, 750 sq. mt. plots are in
Cassia Nodosa and 1,000 sq. mt. plots are in Cassia Fistula.

Current rates as follows:
350 sq. mt. plots start from Rs. 30,000/- per sq. mt. in Techoma and Rs.
30,000/- per sq. mt. in Chorosia...
500 sq. mt. plots start from Rs. 33,000/- per sq. mt. in Alistonia, Rs.
30,000/- per sq. mt. in Largerstromia and Rs. 27,000/- per sq. mt. in
Ebony...
750 sq. mt. plots start from Rs. 30,000/- per sq. mt. in Cassia Nodosa...
and..
1,000 sq. mt. plots start from Rs. 30,000/- per sq. mt. in Cassia Fistula...

Hope this helps,

> �can u pls let u know why not many plots are available for sale, is it

> cyclical phenomenon (due to investors holding on) or that end users have
> bought these plots and are waiting for some more development before moving

> in.�

>
> There is a good mix of end users and serious mid & long term investors in
> Builders Area and Chi-Phi Extension. In Builders Area, most end users were
> waiting for commercial in Pocket-2 to develop before moving in. Recent
> shifting of Yamuna Expressway Authority, opening of few general stores &
> restaurant/food joints, and operational hospital, with 4 more hospitals
> under construction/renovation and expected to open soon, Builders Area is
> just about ready to take off and it might before first Delhi style
> developed area in Greater Noida. As far as Chi-Phi Extension is concerned,
> apart from 1495 authority allotted residential plots, there are 6 Group
> housing plots, and 4 out of them are now almost 30% to 70% occupied. There
> is delay in people starting construction on residential plots due to delay
> in supply of water and construction of Commercial space. It is expected
> that supply of water will start by last quarter of this year. Commercial
> space will take longer to develop, maybe another 2-3 years.
>
> Hope that answers the first part. Now the second part...
>

> �Also I would request you to tell us if opening of YE will have some gud

> affect on this area, not necessarily in terms of premiums, but actual

> development.�

>
> Opening of Yamuna Expressway will act as booster on steroids. Within
> months (max year or so) of opening of the expressway, significant increase
> in population is expected in Builders Area. At the same time, Chi-Phi
> Extension is expected to fetch higher value with each passing month (may
> take another 3 odd years to become 30%+ habituated). As Yamuna Expressway
> becomes operational and due to increase in population in Builders Area
> (mainly from Noida and Delhi), it is expected that development will catch
> up and increasing number of commercial outlets will evolve. Also, the
> opening of Grand Vanezia Mall, just behind Pocket-3 is expected to add
> fuel to fire and significantly increase interest in this area.
>

> Dear Jimmy and Amit... I�d suggest both of you fasten your search for