Sunday brought good news for all realtors when The National Capital
Region Planning Board (NCRPB) finally approved the Greater Noida master plan.
The builders can resume the construction which was stalled for a year on
farmers protest. The master plan was made mandatory by a court order in October
2011 for any construction activity in Noida Extension-- a newly proposed
residential hub in the NCR.
However consumers are expected to pay more as Real Estate developers
expect house prices to increase by at least 25 % in Noida Extension.
"The housing demand in Noida Extension is going to be very high
after NCRPB approval, while supply is very weak. Prices are bound to increase
because of various factors such as hike in compensation to farmers and rising
input cost," Amrapali Chairman and Managing Director Anil Sharma told PTI.
Sharma said the prices would go up by about 25 per cent. "Prices were Rs 2,100-2,200 a sq ft in this region last year. Now we expect the same to go up to about Rs 2,600 per sq ft". Source: ET.
Sharma said the prices would go up by about 25 per cent. "Prices were Rs 2,100-2,200 a sq ft in this region last year. Now we expect the same to go up to about Rs 2,600 per sq ft". Source: ET.
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