Prashant Thakur, Head – Research, ANAROCK Property Consultants
Conceptualized as an industrial town, Sector 150 falls in the peripheral area of New Okhla Industrial Development Authority (NOIDA). During the mid-2000s, Sector 150 evolved as an IT hub and subsequently attracted real estate developments primarily due to effectively-planned layouts. Situated at the confluence of Yamuna and Hindon rivers along the bustling Noida-Greater Noida Expressway, Sector 150 is now one of the preferred residential destinations of Noida.
The key factor which differentiates Sector 150 from other regions is the presence of massive green spaces. The land use planning of Sector 150 has been undertaken in a pattern that ensures 80% of the 600-acre land parcel remains under greenery and only the remaining 20% is allocated for construction activities. Nearly 42 acres of land are dedicated specifically for parks and recreational facilities.
This micro-market is equipped with good social infrastructure including reputed educational institutions, hospitals and shopping complexes. Sector 150 is currently flourishing with real estate activity, and there is a visible rise in residential developments, integrated townships, commercial spaces and mixed-use developments.
Located strategically, Sector 150 enjoys excellent connectivity not just to the different sectors of Noida but also with other parts of Haryana and Uttar Pradesh.
Road: Sector 150 is easily accessible to major transport corridors such as Yamuna Expressway, Noida Expressway, Faridabad-Noida-Ghaziabad (FNG) and Eastern Peripheral Expressways. The micro-market also provides smooth access to Indira Gandhi International (IGI) Airport, New Delhi railway station and Connaught Place.
Rail: The nearest railway station to sector 150 are Ajaibpur and Dadri, 20 km away. A metro corridor runs between Noida and Greater Noida. The construction of the metro line is complete and is currently undergoing trial run and technical clearance.
Air: Sector 150 is well-connected and easily accessible from the IGI airport (located 46 km away) via Noida-Greater Noida Expressway.
Over the last five years, Sector 150 has registered residential new launches of around 14,800 units. Around 44% of the supply was added in the year 2015. The significant amount of unsold inventory (8,700 units as of 2017) has led to the decline in the supply in 2016 and 2017, compelling developers to keep a check on the new launches and focus primarily on project execution.
Less than 10% units are ready for possession in Sector 150, indicating limited choices available to homebuyers. Around 13,300 units are expected to take more than 1 year for completion. Amidst the strict RERA regime, developers are now likely to focus more on execution.
The property prices in Noida Sector 150 witnessed an upward trend since 2015, with the average price per sq.ft. as of Q4-2017 being INR 4,900. Despite the low new launches during the past two years, prices have appreciated by around 10% during the same period. With significant infrastructure developments in the region, prices are likely to creep upwards in the future too.
Considering the superlative connectivity, upcoming infrastructure upgrades such as Noida-Greater Noida metro line, ample green spaces, the presence of several corporate offices in the vicinity and availability of residential developments at competitive rates, more and more homebuyers are eyeing properties in this micro-market. The future of Sector 150, Noida is definitely promising.