Delhi NCR are known to be one of the most prime locations of India.Irrespective of what the economic condition of the country is, Delhi and NCR always witness a constant increase in price. While Delhi is undoubtedly crowded, the peripherals of NOIDA are known to be recently established prime areas for property investment.In this article, we are going to look at one such location of NOIDA, which is Sector 76.
The less space, high property price and congestion are the reasons why investors are driving to the fairly new developed areas of NCR, which are also known as the super 7 sectors of Noida, Sector 71 to 77. Out of all these areas, sector 76 seems to be the most preferred because of a mix of all kinds of properties.
Description of the Area
99 acres.com publication Insite’s data shows that the Sector 76 area has witnessed high per cent increase in land/ house prices from June 2012 to 2014. The property values have increased from around Rs 3,900 per sqft lands area to nearly Rs 4,900 per sqft area in the same time period.
There are various factors that can be shown to have caused the growth of the residential property prices. One of the other prime reasons is the declaration of Metro rail facility from the City Centre stop to Sector 78. Sector 76 is in close proximity from Sector 78. Hence, along with the capital values, the rental sector of the region has also seen an increase. According to Anirudh Sharma, who are a real estate dealer and resident in the sector? One of the other reasons is because a large number of projects have announced possession in the sector, which has augmented the rate of occupancy and therefore has affected the property values in the area.
According to the locals in the area, the sector had got disturbed because of the Noida Extension land acquire men tissue and the work had been bought to a stop for nearly nine months in the year 2010-2011. Because of this, the residential projects in the area were delayed plus the developers faced a huge failure of nearly Rs 500 per sqft area.
Presently, because the problem is solved, the real estate condition in the area has increased drastically with a large option of units at affordable prices.
Analysis of Demand
Sector 76 is the forthcoming main residential address for various buyers because it is centrally based and is in proximity of commercial centres in Sectors 61 and 62 plus the SEZ of NSL Tech zone.
All facilities that a property investor watches out for are present in Sector 76. Everything from restaurants, hospitals, parks, malls,schools and retail stores all are based at a very close distance.One other reason for the attractiveness of the area is easy link to New Delhi plus Dwarka. Also, the Noida City Centre Metro Station is very near to the area, thus connecting Noida straight with Dwarka. Facilities like shared auto are easily accessible for comfortable travelling to different areas of Noida. A forecaster metro station in the Sector 78 area, which is based 2 km away, has led to an increase in the demand of the area.Amenities such as the leisure facilities, golf course, green clubs and spacious walk paths in a very close proximity are some other points that are gaining attention of investors.
Since the land acquisition problem was solved in property Noida extension area, developers have been tapping the area after witnessing the growth potential. One such developer is the Amrapali Group who has recently launched their project Amrapali Princely Estate they are offering 2 and 3 BHK apartments for a land area of 875 – 1540 Sq. Ft.
If you are opting for shifting in a ready to shift in house, go for sector 76. In contrast to the other 7X sectors, in which all the projects are not yet constructed, sector 76 provides a great combo of both the unreconstructed the ready to shift in areas. All 1, 2 and 3BHK units are mostly similarly offered in uneasy on pocket budget of Rs 40 to 80 Lac. Make the decision after close consideration of property, investors etc.