Noida property auction fetches Rs. 14 crore
Prices across the NCR (National Capital Region) have moved up by close to 30% in a year. Apartment prices in Noida today range from Rs 3,000 per sq ft. for properties without facilities to Rs 3,500- 4,000 per sq ft for properties with facilities such as club/swimming pool. While property prices in Noida are rising, they are still cheaper than similar properties in Gurgaon by 15% or so. Commercial property prices too have been on a roll in Noida. In Sector 53, a commercial plot got auctioned for Rs. 43,000 per sq ft, almost twice the reserve price.
With high capital values in Gurgaon and Noida, development is happening further away. A lot of development is happening in the Greater Noida area where apartment prices are relatively cheaper at Rs. 2,500 per sq ft. With the 2021 Gurgaon master plan ready, rapid development is happening between Rajiv Chowk and Manesar. Faridababad which has so far lagged behind Gurgaon and Noida in prices is also likely to witness appreciation going forward.
See other Delhi & NCR Real Estate News on INRnews.com.
By INRnews Correspondent
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