Saturday, 29 April 2017

5 Things to Keep in Mind Before Investing in Projects in Noida

Written by Posted On Friday, 11 November 2016 04:52

Eldeco Inspire - Sec. 119, Noida

 

‘There is no place like home’. Globally, India is regarded as the fastest growing country, which has tons of potential in term of real estate and smart workforce. As, a result of this, several international firms are making their way here that in turn is creating good job opportunities for the youth.
 
Delhi NCR, particularly Noida is the hub of such companies and therefore there is a rise of residential as well as commercial real estate projects here. If you too work in Noida, it is evident that you too must be looking forward to investing in a property.  But, before investing in any of the projects in Noida, it is important to check these points.

1. The location of the property

It is of foremost importance that the investor verifies the exact location of the project. Noida is expanding at an unprecedented pace into several well-planned smaller sectors. It is lined by Ghaziabad, Delhi and Faridabad, which marks the huge stretch of the city. 

The latest trend adopted by builders is to mention the location of the project to be a part of Noida or Greater Noida extension so that people are interested in buying flats or plots of the projects in Noida. However, in many cases, it turns out that the exact location is about 10 km away from the extension itself.

 

 

Eldeco Edge - Sec. 119, Noida

 

2. The total cost of property 

A common practice by the builders is to include the area of the common spaces while mentioning the square area of the plot or flat verbally. However, in many cases, the actual area of the flat is about 70 to 80% of the mentioned area. This difference is clearly mentioned in the legal papers of the property.

 

Eldeco Magnolia Park - Sec. 119, Noida

 

3. Ground check of the builder

Recently, the owners of the flats of several projects in Noida had gathered up to protest against the repeated delay of the projects. Now, these investors are in trouble waters because firstly, the developers are not paying a heed to their complaints and secondly, the owners cannot take a legal action. This is because the property documents by the developer has certain loopholes according to which the developer can delay the project as much as he wants and the customer will not have any objection to this extension.

Eldeco Aamantran - Sec. 119, Noida

 

4. Development prospects of the area

Even if you do not have the budget to invest in a flat that is situated right in the heart of the city, you can invest in a project on the city outskirts. However, while choosing the project, make sure that it is located in an area, which would soon be a part of any development project. 

Eldeco Olympia - Sec. 93A, Expressway, Noida

 

5. Legal Help

As already mentioned there are many loopholes in the actual documents of the property that favour the builder. Therefore, to be on the safer side, it is better to take help of a legal advisor and let him scrutinize the documents.

Eldeco Sylvan View - Sec. 93A Expressway, Noida

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Eldeco Group

Eldeco Group has been in the real estate business from 1975 and since then, it has delivered more than 150 successful projects. With more than 35 years of experience in the construction industry, it has managed to become one of the leading names in the real estate sector of North India. Be it spanning townships, high-rise condominiums, office complexes, industrial estates or malls, this real estate group constructs every project with excellent quality and superior construction technology to ensure high level of consumer satisfaction.

www.eldecogroup.com/
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