Real Estate Market in Noida is no doubt a good place for investment. The fastest city of Noida, improving infrastructure, fast connectivity and rise in demand of affordable, mid- and luxury-housing segments continue to attract property buyers despite the health of the economy.
Noida real estate market has become a focal point for the real estate owing to its close proximity to Delhi and enhanced connectivity with the rest of the NCR through a strong logistic network. With a lot of developmental initiatives being undertaken by the Noida authority, the city is being considered as the second well planned city after Chandigarh. The demand for residential and the commercial property in Noida is increasing every year at a very fast rate. Recent reports suggest that amongst all the property markets the appreciation of Noida property is one of the best in the NCR region. It is not merely the end users who are interested in buying properties in Noida but also investors.
Earlier, most of the investors had difficulty in choosing between the properties of Noida and Gurgaon. The comparison between the real estate of Noida and Gurgaon takes into account many factors, but Noida has an edge when it comes to the pricing factor.
The working class is increasingly seeking out Noida as the best destination for investment as the area gives them a very good return on investment (ROI).
For example, some of the housing projects like Unitech Grande, JP Wish Town, Amrapali’s Heartbeat City, Hanging Garden, Antriksh Golf City, ATS Pristine, Supertech’s Supernova, Paramount Floraville, Ajnara Daffodil, Prateek Edifice, Logix Blossom Greens, Gulshan Ikebana, etc, on the Noida Expressway have gained an appreciation of about 20-25% within eight months of their launch.
Noida, which was established under the UP Industrial Act of 1976 to set up an industrial town and provide residential units, has undergone a paradigm shift in the last few years. Noida is a well-planned township with more than 5,000 industrial units and a population of over 6 lakh. Good planning has made Noida a nerve centre of investment; a large chunk of IT industries, all the major IT companies included, are eyeing this city to set up their development centres. HCL, Logix, Wipro, Accenture, Adobe, Birlasoft, Patni Computer Systems, CSC, Samsung, Sapient Corp, IBM, Opera Solution, NIIT, SG Micro, etc, have already set up their IT units here.
The frenetic rate at which major builders and developers are launching large housing and township projects tells the whole story of the fruitful investment opportunity in Noida. Experts, analysts, developers and even buyers are agreed that Noida is a great place to invest in real estate owing to its rapid connectivity with the rest of the NCR, improving infrastructure, etc. The demand for residential and commercial property in Noida is increasing by the year at a very fast and impressive rate owing to all the above mentioned reasons. Job opportunities, businesses, migrations, investment avenues, etc, are expected to double in Noida by 2014, experts say.
There is no doubt that the surrounding location too plays a very important role in the real estate development of a city. According to Knight Frank India, a real estate advisory firm, in its Investment Advisory Report – with property options ranging from Rs 3,200 per sq ft to Rs 15,000 per sq ft and investor returns in the range of 18.6-29%, Noida and its surrounding areas will emerge as a promising asset class for real estate investment in the next five years.
If we go with the real estate experts, Noida is showing 30% appreciation in property prices annually, thereby earning large capital returns for investors and raising demand for property here.
Connectivity with Delhi
The existing DND Flyover, Noida-Greater Noida Expressway and the recently-operational 165km-long Yamuna Expressway (Noida to Agra) provide very fast access to South Delhi, Faridabad and Gurgaon. The Metro rail-link (from City Centre Sector 32, Noida to Dwarka) has boosted the profile of Noida because it provides a rapid link to East Delhi and Central Delhi. Noida-Greater Noida Expressway is a six-lane highway connecting Noida to Greater Noida, another developing suburban city. The total length of the expressway is around 23km, with 3km in Greater Noida and the rest in Noida.
Under the Noida Master Plan 2021, 40 new sectors have been planned along the expressway, which have been further divided into four zones. The existing expressway is undergoing an extension up to Yamuna Economic Zone and the proposed international airport and aviation hub at Jewar along the Yamuna Expressway. The recently inaugurated Yamuna Expressway connects two important destinations of national and international importance, the national capital Delhi and the world-famous tourist centre Agra. Both these places have high potential to generate traffic and economic development. The Yamuna Expressway will accelerate the overall development of the region, as it is coming up along the proposed Yamuna Economic Zone and the Taj International Hub Airport. The huge urban areas of Noida and Greater Noida are now assured of easy accessibility with Aligarh, Mathura and Agra. Safe and shorter travel time in the region will accelerate land development along the Yamuna Expressway in a planned manner for commercial, industrial, institutional, entertainment and residential purposes. Thus, projects along the Yamuna Expressway are a great investment opportunity.
Noida will have more townships, commercial headquarters, shopping malls, world class theaters, and infrastructural development. Also, there are a number of tourism and entertainment projects under development here. All the above factors make Noida an affluent, self-sufficient city and a great investment spot. Prices of Noida property are on an upswing, thus making it the right time to invest in different real estate projects to ensure higher returns.
With improving infrastructure and increasing demand for affordable housing segments, Noida is fit to deliver on all these expectations. For developers and builders like us, Noida has always been a focal point of all our developments. Noida has still a huge scope for new developments and with the Metro expanding its network inside Noida, things can only look up further.
Data Source- Magazines and Newspapers
Alok Kumar Upadhayay
Real Estate Professional