1. JLL India asks home buyers to avoid Noida Extension, Greater Faridabad

JLL India asks home buyers to avoid Noida Extension, Greater Faridabad

Property consultant JLL India has advised home buyers to avoid certain locations, including Noida Extension, in Delhi-NCR real estate market due to delays in projects delivery, oversupply, speculation and lack of infrastructure.

By: | New Delhi | Updated: July 22, 2015 6:28 PM
JLL India

JLL India said that congestion will turn this area into an uninspiring concrete jungle even though metro and a wide road connecting Noida Extension to Noida are on anvil. (PTI)

Property consultant JLL India has advised home buyers to avoid certain locations, including Noida Extension, in Delhi-NCR real estate market due to delays in projects delivery, oversupply, speculation and lack of infrastructure.

JLL India has declared Noida Extension, Greater Faridabad and Delhi’s L & J zones as ‘high-caution’ areas.

“The National Capital Region (NCR) has some locations that buyers are best advised to avoid. Various issues like delays in delivery, oversupply, speculation and infrastructure deficit have been plaguing these markets, rendering them unsuitable for first-time home purchase,” JLL India CEO – Operations & International Director Santhosh Kumar said.

On Noida Extension, which is part of Greater Noida, Kumar said the primary issue impacting this location’s viability as an investment destination is the oversupply of housing units.

“With 1.5-2 lakh units slated to hit this market, prices are unlikely to appreciate much. Many land acquisition issues involving local farmers have sullied the market here over the last few years. The ensuing delays and litigations, resulting higher compensation being paid to farmers for their land, has also decreased overall affordability,” he said.

The government’s decision to compensate developers for their losses by allotting them higher floor area ratio (FAR) would result in far greater development congestion than was originally envisaged for this area, Kumar said, adding that delays in completion of projects being another concern.

“Despite its disproportionate housing supply, Noida Extension has lost much of its earlier attractiveness,” he said.

JLL India said that congestion will turn this area into an uninspiring concrete jungle even though metro and a wide road connecting Noida Extension to Noida are on anvil.

  1. P
    Pankaj
    Jul 22, 2015 at 7:57 pm
    Right. If prizes are doubling in more than 6-7 years then I don't see any benefits in investing and taking tension about the construction quality, timely delivery. There are lots of risk involved in booking a flat. Once we book the flat and give money to builder we are at the mercy of builder. Feeling of confidence goes very down once you give your money to builder and also take money from bank and give it to Builder which is private body. This is India and anything can happen here. Any authority take any decision and finally buyer has to suffer for that. Keep your hard earned money with you. Ready to move flats are better. At least you can see the over all condition. Price will not increase in future more the the interest you pay to the bank. Builder are generally cheaters and to make profit the can compromise with anything.
    Reply
  2. P
    Pankaj
    Jul 22, 2015 at 7:58 pm
    This is neither Good for Buyer nor Good for investors. If prizes are doubling in more than 6-7 years then I don't see any benefits in investing and taking tension about the construction quality, timely delivery. There are lots of risk involved in booking a flat. Once we book the flat and give money to builder we are at the mercy of builder. Feeling of confidence goes very down once you give your money to builder and also take money from bank and give it to Builder which is private body. This is India and anything can happen here. Any authority take any decision and finally buyer has to suffer for that. Keep your hard earned money with you. Ready to move flats are better. At least you can see the over all condition. Price will not increase in future more the the interest you pay to the bank. Builder are generally cheaters and to make profit the can compromise with anything.
    Reply

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