We are Wealth Clinic Team
Noida has become a major IT, residential, and commercial hub owing to the rise in infrastructure development and job opportunities. For working professionals, couples, and families considering moving to Noida, cost considerations of buying a home become the most vital aspect.
This guide will provide an estimated breakdown of the typical costs of purchasing a house and the cost of living in Noida to help you plan your budget if you're relocating for work, education, or any other reasons.
One of the main factors to consider when you decide to buy a home in Noida is the type of property being purchased. Let's look at the options available:
1 BHK Flats in Noida : popular among single professionals or young couples, the purchase price typically ranges from Rs. 25 lakh - Rs. 50 lakh, depending on its location and amenities within the building.
2 BHK Flats : more suitable for families, 2 bhk flats in Noida can cost anywhere between Rs. 50 lakh - Rs. 1 crore. The price is typically influenced by the sector and overall quality and reputation of the project.
3-4 BHK Flats : Large houses like 3 bhk flats in Noida Expressway or individual houses in Central Noida can range from Rs. 1 crore up to several crores, providing more space and often located in premium sectors.
Beyond the purchase price, homebuyers also need to take into account additional costs like:
Registration and Stamp Duty : the charges in Noida include a stamp duty of 7%, a Registration Fee of 1%, and other minor costs like brokerage, lawyer’s fees, etc.
Maintenance : To maintain the building and the common areas, societies can charge around Rs. 2000 - Rs. 5000 monthly.
Other costs like home loan interest, property taxes, house insurance, and costs of fittings, furnishing, and parking should also be considered.
Transportation costs depend on the distance traveled and the mode of transport used. Below are the available options in Noida:
Metro - Rs 200 for smart card recharge. Monthly pass options are also available.
Buses - Rs 800-1200 per month for daily commuters.
Autos/Taxis - Rs 12-15 per km + minimum fare Rs 100 per ride. App based taxis like Ola/Uber also operate here.
Vehicle Costs - For personal cars/bikes, calculate monthly fuel, parking, and maintenance - Rs 3000-6000 on average.
Noida offers a variety of restaurants for foodies on any budget. Here's an estimated monthly dining expense:
Basic restaurants - Rs 300 per meal per person
Mid-range restaurants - Rs 700-1000 per head
On the other hand, if you decide to cook at home, basic groceries will cost you around Rs 3000-4000 a month.
Electricity - Rs 800-2000 depending on usage
LPG - Rs 750-850 per cylinder
Landline/Broadband - Rs 700+ for various plans
Cable TV - Rs 300 onwards per month
If you're thinking of purchasing a home in Noida, it's important to keep in mind that the cost of the property isn't the only thing you should consider. You should also think about the additional expenses that come with maintaining the property and enjoying the amenities it offers. After you buy a home in Noida, your monthly expenses will be the sum of maintenance + transportation + food + utilities.
But these expenses should not stop you from making your move. Of course, you can always adjust expenses based on your lifestyle needs to create a budget that works for you, whether you're living alone, with a partner, or as a family.
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