All About Greater Noida’s Pari Chowk Real Estate Market

Builders are having a hard time selling their projects in the Noida property market, primarily owing to the low market sentiment — data available with PropTiger.com show the city has an inventory stock of nearly 64,000 units at the end of Q1FY20. However, here lies a golden opportunity for buyers and investors alike. For a buyer, ready-to-move-in units are available in this affordable market where one has to move in right after purchase. Investors would also be signing a low-budget deal for a property in a thriving rental real estate market. It is for these buyer segments that we would examine the merits of investing in areas along the Pari Chowk.

Location

Pari Chowk, a traffic intersection, is the point where the geographical limits of Noida merge with that of Great Noida. It is considered within the limits of Greater Noida.

Connectivity to Pari Chowk

Since it is a traffic intersection between the two key cities in the NCR, the localities lying along Pari Chowk have brilliant road connectivity. Apart from being connected with the Yamuna Expressway that joins this juncture with a large part of Uttar Pradesh, Pari Chowk also lies in the middle of the eastern and western freight corridors. Needless to say, areas along this place have easy access to public and private transport facilities. Also, thanks to the newly launched Aqua Line, the area now hosts Pari Chowk Metro Station. Plans are also afoot to extend this line till the upcoming airport in Jewar.

Social infrastructure in Pari Chowk

The area has a host of educational institutes (Delhi Public School, GD Goenka Public School, Ryan International School, Sharda University), hospitals (Kailash Hospital, Yatharth Multispeciality Hospital, Sharda Medical) and malls (Ansal Plaza, MSX Mall, Jaypee International Golf Resort and Sports Complex) that fulfill the basic requirements. Additionally, residents also have access to local markets to fulfill their daily needs.

Property markets in Pari Chowk

If the above-mentioned specifics interest you to pick areas along Pari Chowk to own youe home, let’s look at the price range.

Data available with PropTiger.com show that the average rate of property in localities that lie with the five kilometer range of Pari Chowk stand between Rs 3,500 per square foot (psf) and Rs 6,600 psf, depending on the exact location and brand of the builder. Monthly rent in these areas also varies between Rs 6,000 to Rs 15,000, depending on the same factors.

Places to look for property, in Pari Chowk

Based on the sales figures, Sector 150, ETA 2, P1, CHI 5 and Zeta are the localities highly popular among buyers. In the past one year, over 2,100 units were sold in these localities, with Sector 150 seeing the highest sale at 1,058 units.

At over 2,100 homes, launch-wise, the highest number of units was also made in Sector 150 in the past one year. ETA 2 and PI are the other localities where a combined 800 units were launched in the past 12 months.

Highest inventory

Incidentally, Sector 150 also has the highest unsold inventory. Nearly 3,350 units in the area are up for grabs. ETA 2 also has a good stock with nearly 2,100 units.

Branded homes

Those planning to invest in under-construction projects of big brands could check out Godrej’s villa-based Exquisite project at PI. Launched this year, the project is promised for delivery in 2023. Average rate of property in this project is Rs 4,511 psf.

Pious Hideaway by ATS and Palm Retreat by Godrej are two other upcoming projects, located at Sector 150. While average rates in the former project is Rs 4,550 psf, the latter is priced at Rs 6,168 psf.

Word of caution

Since Pari Chowk is a key intersection, the areas faces huge traffic congestion during peak hours. Despite the several initiatives, the situation is far from being corrected. Also, don’t engage with small builders for builder-floor projects. These might be unauthorised constructions.