Published on: Jun 12, 2015 @ 11:42
Noida residential market is taking a forward momentum and emerging as a favorite destination for the home buyers in the last few years. The real estate development in the Noida regions is picking up rapidly over the past few years due to highly advanced infrastructure, good employment option, metro connectivity and innovative residential and commercial projects.
Noida is a well planned, integrated modern city with huge residential buildings and lavish mall, well connected with Delhi through a network of national highways, roads and the DND flyover. This region is well connected to Delhi from Noida City Centre to sector 21, Dwarka and Gurgaon through the existing Metro rail. The proposed extension of the Dwarka-Noida City Centre to Pari Chowk will give direct connectivity to Delhi and other NCR areas, and the project is expected to be completed by 2021.
Noida region is best known for a software technology park and ITES SEZ, the various projects in and around these areas, creating huge opportunity for IT Companies. The Noida real estate is increasingly trending upwards as many MNCs companies are locating headquarters in the Noida and the Greater Noida region. Besides, Noida has an 18 hole Golf Course, the Night Safari and Formula 1 track of international standards.
The Yamuna Expressway, which is operational now, stretches over approximately 165 km along the Yamuna river and connects Noida and Agra. The other major projects like the Export Promotion Zones and Taj Economic Zone are also likely to push the economic development of this region.
In recent times, the increasing price in NCR real estate is a major worry for the home buyers who are planning to buy their dream home. While Gurgaon offers a favourable market for buyers in the premium segment the high price here suggest that the properties will no longer fetch high rates of appreciation.
Noida offers a wide range of exclusive real estate property for both the commercial and residential market. Though, Noida is known for its affordable housing projects, there are numerous luxury projects underway as well as in the pipeline in Noida and its adjoining areas. Renowned developers like Suprtech, 3C Company, Prateek Group, Lotus Green, and Wave Infratech have launched super luxury projects. There are a lots of option for the buyers with renowned names in the real estate sector like the Amrapali Group, Unitech Ltd., Jaypee Group, Parsvnath Construction, Omax Builders and others building quality and advanced residential apartments.
Greater Noida, which is an extension to Noida, is a better planned city with good infrastructure in terms of wide well planned roads, drainage system and Green Buildings. While these markets have not witnessed anticipated appreciation in the past, it may turn out to be a good bet in the longer span. The real estate market of Noida and Greater Noida are likely to witness uptrend in capital values owing to the current relatively lower ticket sizes, which leaves a margin for appreciation.
Farmer protests over land issues had led to a slowdown in the real estate markets over the previous years. However, the buyers sentiment has improved overtime, after the Supreme Court’s verdict of May 2015, which dismissed all the petitions filed by the farmers from Noida, Greater Noida and Noida Extension, setting the land acquisition free from all litigation.
In fact, Noida has now crystallized into one most favourable destination for the buyers of real estate market. Overall, this region is beginning to emerge as one of the most preferred markets of NCR real estate market.
Ajay Verma, founder, and writer of The Housing World, a real estate and mortgage news website. He has over fifteen years of rich experience in the above-mentioned industries.