A Comparison Of Gurgaon And Noida Real Estate Market

Gurgaon Real Estate Market

The growth in Noida is backed by planned infrastructure, better civic amenities and increased supply in comparison to the Gurgaon property market. Many developers in the National Capital Region (NCR) believe that although the valuation of properties in Gurgaon is better compared to Noida, the advantage reflects that Grade A buildings and corporates started in Gurgaon much before Noida.
Pankaj Bajaj, President, CREDAI (The Confederation of Real Estate Developers Associations of India) NCR, pointed out that the developers in NCR enjoy a better planned infrastructure as compared to Gurgaon. “The roads and civic amenities in the internal sectors of Gurgaon need improvement,” he said. A lot of infrastructure was planned for Golf Course Extension Road. “The market there has been lagging by 4 to 5 years because the allocated funds do not show the development that was expected,” he said.
When asked why there is still a huge difference in the valuation of properties between Gurgaon and Noida, Bajaj added that Gurgaon has the early bird advantage and the Grade A buildings came to Gurgaon many years back. He said, “While, in Noida market the Grade A buildings have come only recently and it is inhabited by middle and upper middle class, the chunk of population in Gurgaon is inhabited by people working in corporates, that have more spending power.”
The supply of the number of units in Noida is more in comparison to Gurgaon. Ashwani Prakash, ED, Paramount Group of Companies recently pointed out in a Discussion that the connectivity to Noida seems to be much better than in Gurgaon. “In Noida, the development is done in a planned and phased manner. In the next 5 years, I see Greater Noida becoming a big residential hub with all the modern facilities like infrastructure within township and group housing townships,” he said.
Sanjay Rastogi, Director, Saviour Builders Pvt Ltd also said that Noida Extension or Greater Noida hold a better infrastructure compared to the rest of the NCR. He predict that 5 years down the line, Greater Noida will do very well, adding that as for the builder activities, government support is critical in the next 4 to 5 years.


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