Real estate in Noida enjoys a robust market

Real estate in Noida enjoys a robust market as the city is growing at a scorching pace and has witnessed spate of developments in the recent past. Noida is one of the most well planned cities of NCR region and this factor has been instrumental in attracting lots of demand.  So, the city gives ample reasons to invest in its property market. Over the past few years, Noida has emerged as a favorable destination for real estate investment. Factors such as its close proximity to Delhi, availability of world class infrastructure and sound physical and social infrastructure such as educational institutes, hospitals and other recreational facilities has brought real estate in Noida up the curve.  

It is important to note that Noida, the largest industrial town of Asia, has witnessed a paradigm shift in the last decade. Noida’s close proximity to Delhi and enhanced connectivity with the rest of the country has been very instrumental in boosting its demand. Apart from this, Noida boasts of a well-planned township and enjoys the presence of more than 5000 industrial units and over 5,00,000 population.

Catching the eyeballs of India’s IT and telecom global powerhouses, over the past many years, Noida has become a central point of investment by attracting real estate driven investment from giant companies such as HCL, ST Microelectronics, Adobe Software, TCS, etc.

Four Reasons to invest in Noida

As a favorable destination, Noida is a great place to invest in real estate because of the following factors.

Connectivity Corridor – Delhi Noida Toll Bridge

Construction of this connectivity corridor has made sure that the commute between Delhi and Noida is fast, smooth, easy and hassle free. With the help of this toll bridge, people can easily commute between two destinations in seemingly two places of Delhi and Noida in very little time. As a result, a lot of people based in Delhi can easily go for business meetings in Noida and come back to Delhi, saving on the time factor.

Close Proximity to Delhi

Due to its close proximity with the national capital, the demand for residential and the commercial property in Noida is increasing year after year, at a very fast pace.

Appreciation of Property Value

Experts say that the annual appreciation in property prices in Noida is about 15%. The figure demonstrates excellent prospects of real estate investment in the coming time and gives an amazing opportunity to earn large capital returns for the real estate investors, keeping in mind the present slowdown.

Noida-Greater Noida Expressway

This has paved the way for better connectivity between Noida and Greater Noida. Noida-Greater Noida Expressway is a six-lane highway connecting Noida, to Greater Noida, which is a new suburb. The total length of this Expressway is around 23 kms, with 3 kms coming within Greater Noida and the rest in Noida.

A total of 40 sectors are planned along the Expressway zone which is envisaged to boost the further connectivity of the city. And additionally, these have been further divided into four zones under the Noida Master Plan 2021. Construction of such connectivity infrastructure is expected to change the demand dynamics of the city drastically.

Three Additional Reasons to Purchase Property in Greater Noida Today

There is today additional benefit to owning property in Greater Noida as the city attempts to market itself as an attractive location at which to own real estate. Recent changes by the Greater Noida Industrial Development Authority shall now make it possible for those who own property in Greater Noida to avail of loans against their homes for purposes of other than home loans. Now residents of Greater Noida, who own property in the city, may avail loans against their homes for the purposes of starting an industrial enterprise, for an education loan, or to pay for medical expenses. This gives another impetus to owning residential property in Greater Noida in addition to other measures which have been taken by the GNIDA pertaining to an increased FSI as well as more stringent measures to guard against earthquakes.

Certainly one of the unspoken fears of living high above the earth in an apartment in any city is the fear of an earthquake and the prospect of the devastation it may cause. At a time, an earthquake strikes, many who live in swanky multi-crore apartments in Noida Extension suddenly envy those who work as maids in their homes as the latter are guaranteed a peaceful night’s sleep in their ground floor shanty unconcerned by tremors within the earth. By passing safely certifications to which developers have to comply, GNIDA is ensuring that the worst that can happen to those who live in high apartments in Greater Noida doesn’t happen.

Luxury flats in Noida may already be well insulated from many of inconveniences of being in a tumultuous city since many such residential projects in Noida have homes that stand at a distance from the hustle and bustle of adjoining roads, however new measures by the GNIDA have led to an increase in the FSI which will allow builders to construct higher along the metro line. While an increase in the FSI will lead to greater profits for builders in Noida and Greater Noida, additional building safeguards to secure buildings against earthquakes and tremors combined with a greater FSI are winning bets leading to secure buildings which stand at important junctions near the metro line. A possible caveat for those who purchase apartments in Noida Extension at such locations is to remain aware of the higher decibel levels likely to encroach from the passing metro line into one's homes. As many affordable flats in Noida Extension are likely to be constructed in smaller developments, units are likely to be closer to adjoining roads and the passing metro line which will inconvenience those who dwell within such homes.

Builders in Noida at Greater Noida now have an additional unique selling point to sell to buyers and should tout the benefit that homeowners with homes in Greater Noida may use their home as a form of equity upon which they may build more than wealth in addition to using the home as their permanent abode. Such changes are however reminiscent of changes in the real estate market in certain countries which unleashed the subprime mortgage crises across the globe. Local authorities should ensure that lending practices which lend to the homeowner based on the equity of their home are transparent and are regulated.