With real estate companies gearing up to deliver around 45000 units in Noida and Greater Noida by the end of March 2017, it seems that the region is all set to become more habitable and lively with a new wave of growth. As reported by the real estate association CREDAI Western UP Chapter, developers of these regions will be giving possession by the end of this financial year bringing sigh of relief to the home buyers who were anxiously waiting to get the keys of their dream homes.
According to Mr. Deepak Kapoor, President CREDAI Western UP a whopping amount of close to 45000 flats will be delivered in Noida and Greater Noida by the end of March 2017. He said, “We have compiled database on the basis of inputs from the developers operating in Noida and Greater Noida. While many of them are giving possessions, the remaining will hand over the units by March 2017. Already 25070 units have been delivered by now and approximately 45000 more will be ready for handover by the end of this financial year to meet buyer’s demands. We are hopeful that once things settle down in place and delivery of flats would start, there would be increase in population migrating to these regions.”
Regions of Noida and Greater Noida are home to number of housing projects under various construction stages. But construction works were halted under various circumstances and possessions of flats were also overdue. Lakhs of home buyers were affected because of construction and possession delays due to one or the other reason. But the above data has given new hopes to the real estate market of the region. The move could lead to about 1 lakh people moving to Noida and Greater Noida region by next year. This favorable verdict for all would bring back the housing demand in the region which otherwise observed a dip in demand due to such issues.
Although the work on basic infrastructure in Noida is great & its going on in Greater Noida (West) as the possession of around 45k flats is slated for this financial year end, it is important that amenities like roads, power, water supply etc. fall in place so that the home buyers do not have to wait further for moving to these regions as already they have been affected with delays beyond our controls.
Confederation of Real Estate Developers Associations of India (CREDAI) is the apex association of developers and builders in India with more than 11500 member developers / builders through 112 member associations with representation in all the major cities and states of the country. CREDAI WESTERN UP is the CREDAI NCR chapter of the organization and all the leading developers of the region are its member. The members of CREDAI WESTERN UP have over the years contributed immensely to the development of WESTERN UP region.
All CREDAI members follow the CREDAI Code of Conduct and respect their customers. The complaints of consumers associated with member developers of CREDAI are successfully resolved at CREDAI’s Consumer Grievance Redressal Forum.
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