Noida’s Sector 121 emerges as home buyers’ preferred destination

[ecis2016.org] Availability of residential units for all income segments of the society add value to a market that is otherwise reeling under the pressure of high supply. Given the affordability, Noida’s Sector 121 is seeing steady demand from home buyers

A micro-market infamous for its unsold inventory, Noida still manages to be the most preferred when it comes to attracting home buyers from Delhi and the national capital region. Of the many sectors in the city, Noida’s Sector 121 is the favourite. A cursory glance across real estate portals will tell you that a number of residential projects have made their way into this particular sector.  

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What makes Noida Sector 121 strike a chord with home buyers?

One of the primary reasons why Noida is appealing is the price factor. Availability of residential units for all income segments of the society adds value to a market that is otherwise reeling under the pressure of high supply. Given the affordability, the supply now comes disguised as choice. Therefore, home buyers can choose what suits their budget and it is entirely a buyers’ market today. For example, the price of properties in Noida Sector 121 ranges between Rs 15 lakhs to Rs 1.70 crores.  

Prices of homes in Noida Sector 121

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The average per sq ft (psf) value of properties has risen from Rs 5,100 in April 2013 to Rs 6,455 by December 2019, data shows. If you are keen to invest in this market, reserve a budget of Rs 20.75 lakhs for a 1BHK unit, Rs 25.80 lakhs for a 2BHK unit, Rs 88 lakhs for a 3BHK unit and Rs 1.75 crores if you are looking to buy a 4BHK residential unit. Note that these are only average prices and may vary depending upon numerous factors such as brand of the developer, physical and social infrastructure, quality of housing, amenities provided to home buyers, etc.

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Infrastructure in Noida Sector 121

Given its appeal, these residential pockets are often prone to modern-day woes as well. For example, residents often complain of the traffic situation at the Parthala Chowk intersection. “We have seen so many quick-fixes and diversions to ease congestion. Sadly, nothing has worked and it gets worse day by day, especially during peak hours. There are so many under-construction apartments around this area which means in the years to come, there is a sizeable population that is yet to come. It doesn’t look like we are equipped to handle the estimated population. Infrastructure, though developing, is not adequate,” says Bikram Nandi, a resident. Kavya Mishra, an engineer by profession says, “While the market is affordable, we have paid a lot to own a house here and the authority’s apathy is a point of concern. The volume of traffic is set to increase by another 50-60 per cent in no time.” Nandi also points out that at times mobile phone networks also fail. Although this is a temporary problem, for those who work from home or are on client calls, this could be irking. Given that Sector 121 is a new and developing pocket, network providers still need permissions and sanctions to put up mobile towers. While residents have voiced their problems, authorities have been taking one step at a time. The Noida Authority has said that it has decided to build a foot overbridge (FOB) between Sector 121 and 122, ahead of the Parthala roundabout, on the Noida-Greater Noida West Link Road. Once completed, issues like jaywalking will be addressed. Moreover, it will help pedestrians to cross over to the other side, where a metro station has been proposed as part of the 15-km Noida-Greater Noida West Metro. The budget for the FOB is estimated to be Rs 1.65 crores. Tenders have been floated, to hire a private agency to construct the FOB, with a deadline of January 21, 2020, for eligible agencies to submit their applications. 

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Check out properties for sale in Noida Sector 121

Why construction permissions matter

Various developer brands have entered the Noida market and while brands assure you of timely project delivery and quality construction, recent instances and mishaps show that quality may not come hand-in-hand with a brand. Therefore, it is important to invest wisely exercising caution. in 2018, a three-storey, under-construction building came crashing down due to heavy monsoon showers. Although no casualties were reported, the Noida Authority informed that it had sealed the building due to the violation of construction norms. Mishaps are common in various sectors across Noida. Fly-by-night developers who attract unaware homebuyers with cheap offerings are in plenty. Hence, before investing do check for the legality of the construction plan, RERA permissions, etc., before putting your money into a project.

Despite all odds though, Noida Sector 121 has come up as a preferred housing destination and improvement in infrastructure facilities will add to the charm.

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Category: Lifestyle