Delhi NCR is one of the fastest-growing regions in India due to a number of supportive factors including a large number of high paying white-collar jobs and world-class physical infrastructure. The real estate prices in Delhi have grown to astronomical heights leading to the growth of adjacent cities as large companies shift to other cities namely Gurgaon and Noida in search of better infrastructure and lower real estate prices. The Government is also enabling the same by improving the connectivity of these cities with Delhi through wide roads/highways and Delhi Metro.
Gurgaon was the first city to benefit due to primarily two reasons –
These two factors led to a steep rise in Gurgaon real estate as the demand for both high-quality commercial space as well as residential space increased. Currently, the commercial rentals and residential selling prices in some parts of Gurgaon are comparable to those of Delhi.
Don’t worry if you missed that bus. Now, Noida is going through the same development phase and would see strong growth in its real estate prices in the coming years.
Noida (New Okhla Industrial Development Authority) is a systematically planned city and the residential, as well as the commercial developments, are going hand in hand to develop the city. If you are thinking to buy a property in Delhi NCR then Noida and Greater Noida must have attracted you. Living in Noida offers great jobs opportunities, convention centers, and an airport coming up in the area. Thus, investment in Noida and Greater Noida real estate is going to be your best decision ever.
Recently, Union Information and Electronics Technology Minister Ravi Shankar Prasad announced that the Union Government is in collaboration with UP Government will be developing Noida and Greater Noida regions like a second Singapore. To this, Ravi Shankar Prasad said,
“Big electronic companies have come to Noida, Greater Noida and 54 big players have already started their operations from there. The day is not really far when this part will be known as the Singapore of UP.”
“We can make Noida and Greater Noida a Singapore like place where skill, electronic manufacturing, education, management and global conferences can all take place together. The development of Noida and Greater Noida will percolate to the entire state,”
The minister, Ravi Shankar Prasad also added,
“We will offer support to the state government to develop IT parks and other centers of excellence,”
The Government is definitely focusing on developing Noida as one of the upcoming regions and it seems to be going the Gurgaon way with the high paying white-collar jobs coming up in bulk and Jewar airport work also to start soon.
Well, who would not like to invest in a place where the Government is taking so many initiatives for development. And here, we have mentioned 7 major reasons why investment in Noida & Greater Noida real estate is going to be your best decision ever. Have a look!
Jewar airport is currently the number one attraction for everyone. The price of real estate in Noida and Greater Noida is pretty affordable now, but it will surely go up after the construction of Jewar airport. The construction work on Jewar airport in Greater Noida will start in December 2018. The Jewar airport is going to be the biggest airport in India in terms of area. And the 1st phase of the project involves the construction on 4 thousand acres, follow-up phases will see construction on rest of the land.
Nowadays, there are plenty of job opportunities in Noida and Noida Extension. A large number of IT and ITES offices have set base in the city and a number of big companies are opening up; thus there is an increment in job opportunities. After Jewar airport, all the MNCs will have an option to settle in Noida and Greater Noida and it will lead to the growth of job opportunities.
Coming to more details, on one side there’s a knowledge park in Greater Noida West and on the other side, Formula 1 track on Yamuna Expressway has drawn a lot of attention. And with the proposed metro connectivity to Greater Noida, several IT companies will surely be noticing Noida-Greater Noida Expressway and Greater Noida to set up their offices and reap the benefits of this awesome physical infrastructure at reasonable prices. In fact, you would be able to witness a number of world-class buildings on both sides of the expressway.
Noida extension and Noida are a part of government’s ambitious planning of 13500 acres and till now 1200 acres have been finalized. Here’s how its accessible from different key locations:
Noida is one of the best-planned cities. It boasts of world-beating road infrastructure with the crown highway – Yamuna Expressway. Yamuna Expressway is a world-class road highway and all the sector roads within the city are also quite wide. There are a good number of parks, world-class hospitals, global schools, and all other facilities. The city’s futuristic transportation includes metro line expansion and the city is also covered by greenery. Many people who have visited Greater Noida just marvel at the planning of this city.
Greater Noida is Asia’s first-ever city where the planning of 30 years is already done before starting the infrastructure. Thus, Noida extension will surely have a world-class infrastructure. Some of the important points in the infrastructure development of Noida are:
Greater Noida has the potential to offer a pretty decent ROI according to the kind of developments which are happening in the region. Currently, there is a sufficient difference in the prices at Gurgaon, Noida and Greater Noida. However, with the proposed infrastructure and Government initiatives; the difference is going to reduce sharply over the next few years. This might be the most opportune time for investment in Noida and Greater Noida as the price of real estate will surely go up.
All these projects are estimated to produce over 80,000 jobs in that area.
Noida extension is currently the best place to invest:
Price for the residential place in Noida extension
1 Bhk flats starting price is 25 Lacs
2 Bhk flats starting price is 40 Lacs
Price for commercial property investment in Noida extension
Resale price- 20-25 Lac
So, these were 7 major reasons that show why investment in Noida and Greater Noida real estate is going to be your best decision ever. It is the best time to grow your hard-earned money by doing investment in Noida or Greater Noida.
CEO & Founder – PROPERTYYY.com
Vishesh Rai Buffett is an Indian entrepreneur and technology evangelist by heart. He is the Founder and chief executive officer of PROPERTYYY.com, the only Real Estate Consultancy Chain in India.