PremiumThe Noida Authority has invited applications for 338 apartments this year. The flats include duplex flats for LIG (Low Income Group), MIG (Middle Income Group), and HIG (High Income Group) households.
Those interested can apply by 31 January, according to a report by Live Hindustan.
The flats would be available in Sectors 52, 61, 71, 73, 82, 93, 99, 118, and 135. As per the report, sector-118 has the most LIG flats (231), and Sector-99 has the fewest (61).
The LIG apartments range in size from 54.87 to 66.83 square metres. And, the rates range from ₹45 lakh to ₹76 lakh.
They are five Middle Income Group flats in Sector 99 and on in 62 with the respective square footage of 74 and 91. Their cost is between ₹66 lakh and ₹90 lakh.
Further, Sector 99 has 16 High Income Group apartments, covering 153.57 sq metre of space. The pricing range from ₹1.39 crore to ₹1.74 crore.
In Sector 135, three duplexes are available having 180 square metre of space. The cost of duplex apartments is ₹1.79 crore (approx). All flat types—except LIG—will be distributed by electronic bidding.
The Delhi-NCR market had 98,290 unsold housing units at the end of 2022 calendar year and it will take around five years for builders to sell these stocks at current sales velocity, according to PropTiger.com.
In its latest report, housing brokerage firm PropTiger said that the Delhi-NCR market has been facing this issue of unsold inventories for many years as sales velocity has remained subdued.
The NCR market is plagued with the problem of stalled projects as many big developers including Unitech, Amrapali, Jaypee Infratech, The 3C Company and Ajnara Group.
Many companies have become bankrupt and facing insolvency proceedings, while many builders are under liquidity stress.
Prospective homebuyers have become cautious and are opting to buy properties from only credible players.