What Is The Current Scenario Of The Real Estate In Noida?

Noida, developed in the year 1976 is a well planned city. It was developed to cater the growing industrial demand of Okhla. It gradually became a hub of IT companies and MNCs. Thereby, causing an increase in job opportunities. The real estate sector in Noida is developing at a rapid pace. It offers a wide array of options for investors to invest in realty market of this city. Being a lucrative place to dwell, it provides the best of residential, commercial and industrial property. One of the main benefits of residing in Noida is its contiguity to Delhi. In fact, this counts as a vital reason for the hike in the property prices of Noida. However, this city is also known for its affordable housing property. Investors with low ticket size tend to invest here. It also becomes affordable for a common man to buy property in this location. Noida is known for its residential and commercial real estate sector. It provides habitation to a large number of residents. Advanced infrastructure like well developed roads, adequate water supply, electricity, sewage and seamless connectivity to Delhi, Gurgaon and Faridabad helps in attracting majority of buyers and investors. Even luxury projects with high-tech facilities are available for sale.

The property prices in Delhi have appreciated and this has made a way for Noida real estate and other nearby areas such as Noida Expressway. Various commercial projects at Noida Expressway are in progress. Clearly, Noida is in its phase of rapid development. Major developers such as Amrapali, Ansal, Orris Builders, Supertech and Omaxe have launched various new projects in the city. Undoubtedly, Noida Expressway has become a real estate hub. Therefore, these major developers have created a wide variety of projects ranging from low budget to luxury. In fact, they aim to provide more housing units with reduced prices, making it profitable for buyers and investors. Proximity to Delhi acts as another advantage to buy property in Noida Expressway. Metro connectivity makes it easy and comfortable to visit Delhi. Moreover, national highways also smoothly connect Noida to Delhi. In fact, shopping malls are also proposed to cater the shopping requirements of a large population. The residential projects also provide modern amenities like swimming pool and gymnasium at affordable prices. All these factors lead to building up of new projects at Noida Expressway.

Greater Noida also plays a significant role in the realty market. It is located only a few kilometers from Noida and is well connected with Noida through Noida Expressway. It is known for its commercial township and renowned educational institutions. The infrastructure is modern and there exists provision of world-class facilities. Thus, major developers consider this area an ideal destination for real estate sector and there are many under construction projects in Greater Noida. Moreover, there is a hike in property prices of about 21 percent in Greater Noida. However, the investors still invest in residential units in Greater Noida in order to gain significant returns through the upcoming years. In Noida Extension which is considered to be a part of Greater Noida, there is a hike in property prices of about 49 percent through the last five years. Whereas, in Yamuna Expressway, also a part of Greater Noida, the prices rose to 21 per cent in the last year.

Therefore, Noida Expressway and Greater Noida have become real estate hot spot these days. They appear to be a profitable destination for home buyers and investors. Moreover, Noida and its nearby areas are becoming upcoming real estate hubs. In fact, the city has good future prospects and it is growing at a remarkable pace.

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Will Faridabad Win Over Gurgaon?

As a well-known city of Haryana, Faridabad possesses a great geographical location and lies in proximity to major NCR cities mainly South Delhi, Noida and Gurgaon. With the growing time the city has witnessed tremendous growth in its economy and real estate market. Due to superb connectivity with the major cities of NCR, settlement of companies, ample job opportunity and rapid developing infrastructure Faridabad has been attracting a large number of real estate investors and buyers. The construction of proposed metro from Faridabad to Gurgaon and the improved transportation measures has significantly contributed to the city's growth. As more and more people are flocking towards the region the demand for the property is continuously growing as a result of this there are many IT Park and residential projects that are nearing completion and property developers have managed to start clearing backlogs.

There are many new transit systems that are being developed in the city. This transit system will open the floodgates to Gurgaon's development and its IT companies and will generate ample job opportunity. Due to sky high property price in Gurgaon and Delhi and shortage of land, it has become extremely difficult for buyers to buy property there. On the other hand Faridabad offers an ample of land and the pocket friendly property prices is attracting worldwide buyers to invest here making it a remunerative place to dwell. Realty experts believe that noticing the current growth the real estate market of the city is set to boom in the next decade. While Gurgaon's commercial and industrial real estate market has soared Faridabad is expected to catch up. With the growing number of offices and commercial zones there are many commercial projects in New Gurgaon that are going to be constructed soon. 

Areas like Neharpur or Greater Faridabad are hot property destination in terms of returns on real estate investment and has caught eye of many investors. Surajkund enjoys similar prospect too in terms of commercial real estate growth. As Faridabad offers an ample option of affordable housing projects the city is mainly dominated by mid income group buyers and due to its consistency with price appreciation of about 8 to 10 per cent in two years many more upcoming projects in New Gurgaon have been launched by developers. As an opulent place Faridabad market is considered as the most affordable market in the NCR region. Being an end user market Faridabad holds a bright future in the growth of the property market. 

Though Faridabad has the potential to be New Gurgaon but it still needs to be developed a lot. Faridabad is awaiting on many reforms including commercial establishment, proposed sewage treatment plant, the infrastructure in needed to be more developed and the adequate public transport system is needed in the city to accommodate the growing population. Despite of all these factors the city real estate market holds a huge possibilities and its economy is all set to boost in terms of employment and development. 

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