Affordable housing for defense sector.

Q: Now a days most of the builder as well as residential seeker are focusing on defense areas.

Sekhar, Noida

12th March 2015

Real estate News in Noida

noida real estate

noida development authority

housing to army

retired army official

fonrwa

army welfare housing organization

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Nidhi Taneja,

17th March 2015

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Hi Mr Sekhar,

They were built in year 1985 to produce affordable housing to Army, Air Force and Navy officers in what was still a poor first cousin of Delhi . Settled within the heart of contemporary Noida, these housing societies are currently a part of Noida's plush set. In their third decade currently, these army flats are being oversubscribed off quick, at astronomical rates. in line with property agents, solely 40% of those flats are currently lawfully closely-held by retired army officers. The numbers are quick slippy.

Wahi, Noida

12th March 2015

Comment

HI Sekhar,
Most army officers with flats here have either oversubscribed off or are on the verge off doing therefore. First, as a result of most of the youngsters of those officers have settled in different cities or abroad. Second, they're shopping for residences in new builder societies with security and power back-up, and moving out.

Shilpa, Noida

12th March 2015

@ Sekhar,

As per my knowledge, these apartments have shot up in price too. A 2BHK flat which would cost around Rs 40 lac in year 2005, is now priced at Rs 80 lac or more, indicating 70%-100% price hike. The Army, Navy and Air Force apartments in Noida are located in sectors 28, 29, 37, 21 and 25.

Prasad, Noida

12th March 2015

@ Mr Sekhar,

After Noida's development took off, with new malls and markets, the military sectors became nighest to the city's hub, therefore naturally there area unit many takers for these flats. Despite being thirty years previous, new consumers renovate these flats before occupation, therefore it works for them," aforesaid N P Singh, president of Federation of Noida Resident's Welfare Association (FONRWA).

Ruchi Mishra, Noida

13th March 2015

In my point of view, another reason why so many army personnel have sold off their flats is that of late, their prices have shot up exponentially because of their favourable location. Meanwhile, there are army welfare housing organization flats in Greater Noida, with all basic army facilities like the canteen and servant quarters, available at cheaper rates, so many have relocated there.

Tamal, Noida

14th March 2015

@ Sekhar,
Army officers who purchased these flats 30 years past got a 3 year 'lock in' amount before they might procure a no-objection certificate and sell them. At just once, solely intra-services sales were allowable, however over the years this norm was alleviated. Civilians are currently shopping for them. Very soon, the military sectors can become regular civilian sectors.

Gaurav Malik, Noida

15th March 2015

@ Sekhar,

Inconvenience owing to age is one among the most reasons why people have shifted out and are still shifting," aforesaid commissioned military officer (retired) Amrit, who lives in Sector twenty nine. When Army officers 1st settled down here, Noida was a inexperienced, open space. Down the years, it's become full. Retired and senior officers currently opt to return to their ancestral places. the town is obtaining too full for many folks.

Bhanuprasad B, Noida

16th March 2015