NBCC Takeover: Affordable Housing Projects Revived in Noida
By : Whitehat Realty
21 Feb 2025
FAQs
FAQs
The takeover is theNBCC Takeoverunder which government-owned enterprise National Buildings Construction Corporation takes over the stalled housing projects. This takeover aims to complete the construction of the stalled Amrapali Group projects. The takeover, meanwhile, also provides homebuyers an affordable home in Noida and Greater Noida West at a lower price from that of the market rate.
Some of the most prominent ones include Leisure Valley Adarsh Awas Yojna, Leisure Valley Verona Heights, Dream Valley Enchante, Heartbeat City, and Centurion Park O2 Valley. The company's locations are at Techzone 4 in Greater Noida West and Sector 107 in Noida.
Yes, these projects are priced much lower than the prevailing market prices. For example, apartments in Greater Noida West are available at ₹5000 per square foot, while in Central Noida, prices range between ₹7000-9000. This offers an affordable housing option to first-time homebuyers.
For instance, in some projects like Leisure Valley Verona Heights, possession may be expected to start during December 2024, while others would be offering possession by the end of the year, like Dream Valley Enchante, with possible delays due to funding issues and other reasons.
Some challenges are associated with such projects, among which include the possibility of delays in possession, construction quality is lower than when compared with private developers, and there are fewer amenities because of funding constraints. There will also be maintenance problems because the projects will be relatively large. However, the affordability and the prime location make the appeal of most customers.
