Possession of 50,000 flats is slated for this year-end in Noida Extension but lack of infrastructure and amenities like streetlights, roads, security, water connections and power supply is set to delay the handover.
According to figures shared by Credai with TOI, while over 10,000 apartments may have already been given away for possession by now, 50,000 more will be ready for handover by year-end to meet buyers’ demands and internal targets.
Rough estimates indicate that the area will likely enable the shifting of 2 lakh buyers once this lot is handed over. By the time all the 2 lakh apartments in Noida Extension are handed over and people start occupying them, the area could witness a population shift of 5-6 lakh.
Suresh Garg, Secretary, Credai western UP, said that unlike in Noida, where possession follows immediately after handover of flats, people are wary of shifting to Noida Extension before the amenities are in place. “So the large-scale population shift will not take place there immediately. Most of the residents there are end-users in middle class groups. Connectivity and transport are still a problem. So many will wait out until the place becomes more habitable,” Garg said.
The increase in the number of households in Noida Extension is expected to trigger a business and commerce ecology around the new consumers in the region but the likely boom may have to wait.
“With so many households expected to shift, one can also look at an increase of at least 60,000-70,000 cars on the roads, if all families shift immediately. Noida Extension still has a long way to go before withstanding that scale of pressure,” Garg said.
Indrish Gupta, co-founder of Nefowa (Noida Extension Flat Owners Welfare Association), said the buyers first waited for so long to get their apartments and now when it was time to shift, the area was far from ready. “People need potable water; electricity supply, hospitals. proper roads, streetlighting, connectivity, a good transport system and more to call a place home. We hope infrastructure development of Noida Extension is speeded up and those who are getting the keys can finally go and start living in their homes,” Gupta said.
Source: ET Realty