A well designed modern city with growing real estate business, Noida remains popular with home seekers as well as investors. Some of the existing residential units for public include 2 BHK flats, which are affordable while offering the necessary space. But the shifting gears in infrastructure and variety not only in the markets have made the price of a 2 BHK flat in Noida somewhat fluid. Following is the guide to understand the factors that positively or negatively impact the 2 bhk flat price in noida: This guideline will also shed light on the basic parameters of how the 3 BHK flats price are in Greater Noida and Noida Extension.
1. Location of the Flat
Depending on the location of the 2 bhk flat price in noida, we are going to find out that the price variance between the two houses is extensive. Noida is divided into several sectors and every sector has its own advantages in respect of infrastructural facilities, connectivity and other supporting services. The complexes that are located close to the commercial areas, metro stations and schools tend to be more expensive than others.
For example, many sectors including sector 74, 76 & 78 are very popular as they are in close proximity to the business hubs and IT spaces. The option preferred by many people is Blair which although cheaper than other areas, is steadily rising due to current constructions. The same could be same for 3 BHK flat market prices in Greater Noida and Noida Extension areas where prices are slightly lower but may escalation in the future with the growth of the newly developing areas.
2. Builder Reputation
It is also worthy to note that the calibre of a builder in terms of credibility and previous experience in the construction of 2 bhk flats for sale affects the cost in a big way. Large builders often price their properties at a premium this is well depicted for instance by the established Miglani group Group which boasts of quality projects well delivered on time. This is another fact that proves the customers are ready to go extra miles because of the feeling that their dream homes will be delivered on time, and the flow of transaction will be free from any form of deception, apart from the desire to be assured of quality construction.
Besides, credible builders may provide better amenities that are ACC related and other facilities to justify the high prices. This factor is applicable in both 2 BHK and 3 BHK flats although flats with higher area require even higher prices are charged in projects developed by renowned builders.
3. Infrastructure and Connectivity
There is an evidence that revealed that connectivity and infrastructure of Noida enhance consistently, and that makes Noida, an attractive destination for property investment. The properties proximal to metro lines, expressways, and highways are relatively expensive than the properties that are located in locations that are not close to these utilities. A 2 BHK flat which is close to a metro station like Aqua Line or close to Noida Greater Noida Expressway will cost more as they are well connected to Delhi, Greater Noida and other region of NCR.
Likewise, 3 BHK flats in Greater Noida and Noida Extension are connected to Yamuna expressway and the Jewar International airport which is under construction. Many of these sectors are still developing their infrastructure hence the implied that flats with 2 BHK and 3 BHK officially known as SXZ will gradually increase hence early investment is worth.
4. Amenities Offered
Today’s homebuyers want not merely a flat, but a lifestyle that they can buy into and live with. That is why the services provided in the houses installed in a particular residential project influence its price. A 2 BHK flat in a project that offers facilities such as gym, swimming pool, children’s play area and round the clock security will therefore cost more than the one with basic facilities.
The reason for this is that often Noida Extension, and Greater Noida, that includes 3 BHK apartments comes equipped with more luxurious facilities; hence, they are pricier. For these micro-markets, there is an expectation of a superior lifestyle among those targeting 3 BHK flat; hence the price is set higher than in the case of 2 BHKs.
5. Construction Status: Ready to move in options are quite different from the under construction property.
There are many factors which affect the price of a 2 bhk flat including the construction status of the flat that you are looking to buy in noida. In general, ready to move flats can be considered preferable but they cost considerably more than the under construction properties. This is because under construction projects expose buyers to so many risks and uncertainties since the property is yet to be developed to their liking.
On the other hand, under construction flats have comparatively lower initial price, but the stocks are prone to time bound delays. The same is the case with the 3 BHK flat in Greater Noida and Noida Extension where the ready-to-move-in apartments are way expensive than the under-construction ones but the customers may have to wait for the possession.
Demand and Supply Dynamics
Thus, the real estate market of Noida is highly sensitive to the demand and supply laws. Consequently, costs perform a U-flip wherein when demand for the residential properties is high, prices soar. At present, the 2 BHK flats are in high demand in Noida mostly through the young generation employees and small families because of their availability at affordable prices and their small size.
However, supply is still higher than demand in some of the regions hence ensuring that the prices remain affordable. The same thing goes with the 3 BHK apartment, which is in great demand in Greater Noida and Noida Extension. This ensures that the prices are kept low in order to meet the demand but this also has elements of the price rising as the regions grow more populous.
7. Government Policies and Taxation
Apartments prices depend on government polices involving Real Estate including GST, RERA and subsidies in PMAY. To this end, there is the issue of RERA which addresses transparency and accountability in the projects by marketers and builders to meet the expected duration and quality standards.
Also, there may be first-time home buyer benefits for subsidies and low-interest rates under the Government’s scheme, and therefore they can afford the purchase of 2 BHK flat. The same advantages would go for 3 BHK flats in Greater Noida and 3bhk flat in noida extension for any people aspiring to upgrade from smaller homes.
8. Future Development Plans
Special developmental schemes formulated for expanded growth of Noida and the other connecting areas are major determinant of property prices. Given that, the proposed Jewar Airport is believed to lift realty rates in Noida, Greater Noida and Noida Extension sharply. Also, the rise in connectivity to more number of metros and new business parks caused more consumption demand for 2bhk flat in their residential units.
The region of Greater Noida and Noida Extension also comes under underdeveloped region where prices are comparatively low but they are also expected to hit the roof in future. Any consumer planning to invest in the 3 BHK segment in these location, should ideally now because the prices are not going to come down in the near future.
Conclusion
The cost of 2 BHK flat in Noida may vary depending on various factors such as the area of the flat, the builder, infrastructures and fluctuations in market. With the increasing growth of the city, it is only a matter of time before the prices of properties start increasing and hence it is a good time for the individuals who are interested in owning homes and even those who want to invest. Those who are searching for larger units can find many ready to move in 3bhk flat in noida extension and Noida Extension that are available at affordable price but these also will see capital appreciation in the future. These factors will enable the consumers to make an informed decision on what they want and get the best for their money.
To know more about the 2 BHK and 3 BHK flats on Noida, Greater Noida and Noida Extension, please refer to Miglani group Group.
