Realtors like Kalpataru real estate, ABA Corp, and others have come up with luxurious projects in Noida, making it the city’s most favored region to buy luxury real estate.
The luxury real estate market has seen its ups and downs in the last few years. The impact of demonetization was evident in the last couple of years when the realtors witnessed a slack period across the country. However, the impact of new reforms is waning fast in cities like Noida, with renowned realtors like Kalpataru real estate, ABA Corp, Supertech Group and others coming up with various luxurious in the city’s most favored region.
A number of project in Noida are under construction, while others are in pre-launch stages. The biggest positive is that the majority of the buyers are from Noida. They are looking for a better lifestyle, which is being provided by projects like Kalpataru Vista in Noida Sector 128.
The Kalpataru Vista is a luxurious project with the heaven of green, offering luxurious living spaces with impeccable design and stunning views. As per the report, projects like these are priced at around Rs 8,000 per sq. feet.
With a large number of people looking for the quality living standard, builders have upgraded their apartments with features like infinite pools, open-air Jacuzzis, spas, squash courts and much more.
“This is a high-end luxury project. The completion date promised by us is 2023. There are 252 flats and we have already sold 49. We are getting customers who are end-users. Nearly 60% of the flats sold so far have been bought by Noida residents. The rest 40% of buyers are either south or east Delhi residents. The flats are in the price range of Rs 2.65 crore to Rs 3.43 crore, said an official from Kalpataru real estate.
The introduction of RERA has cleaned up the real estate market, benefiting the luxury real estate. Apart from Kalpataru real estate, ABA Corp is also set to launch an Uber luxury Project, known as Country-One-Seven in sector 107.
On the other hand, Supertech Group is on course to complete the ‘Supernova’ project in 2-3 years. While Mahagun Manorial, a 338-flat project is all set to come up at sector 128, adding to the variety of the projects.
One of the main reasons behind this shift is one-fourth price of the flats in Gurugram.
According to Haris Binmurshid, a real estate expert of Skydeck Infrastructure, Noida is home to 10-12 luxury projects. Some of them have already been launched, while others are under construction.
The luxury flats in projects like Kalpataru Vista are not seen as an investment option anymore. They are being bought for a quality lifestyle.