Property in Noida : An affordable choice for homebuyers
But in recent decades as the demand for affordable housing has increased residential property in Noida forms an integral part of the real estate market here. Property in Noida is significantly drawing FDI investments due to relaxation of norms by the newly elected central government.
Due to aggressive infrastructure policies by the central government and recently by the state government the real estate in Noida and Noida extension has seen a forward momentum.Land is a prerequisite for any kin d of development and in terms of inventory Noida is a better option than any other city in National Capital Region as land here is available in cheaper rates.
Also buying property in Noida is a convenient option for working professionals as the place has close proximity with Delhi, Gurgaon and Faridabad with a comprehensive network of public transportation. Central Delhi is just 14 Kms away and IGI Airport is 44.5 Kms. The higher density of people in Delhi and rising prices has put Noida property as one of the preferred locations for people living in Delhi.
After the expansion of Delhi Metro Rail Corporation to posh and central localities of the place, price of Noida property has significantly appreciated.
Noida also has a smooth connectivity with adjoining areas of Uttar Pradesh such as Agra, Mathura, Vrindavan with Uttar Pradesh State Transportation Corporation buses that ply on usual basis from Noida City Centre. Also, Yamuna expressway and Noida-Greater Noida expressway have made life much easier now Agra is just a matter of 3 to 4 hours’ drive.
Noida inhabits some good educational institutions such as JSS Technical Academy, Galgotias University, Amity University, Jaypee Institute of Technology, etc. and students from all over India study here. Healthcare providers such as Max Hospital, Fortis Hospital, Kailash Hospital etc. are also easily accessible.
Recently, Noida has also emerged as one of the favourite shopping destination with malls such as The Great India Place, Centre Stage Mall and Logix City Centre , DLF Mall are awaited. Other popular markets here are Brahmaputra Market, Atta Market, etc.
According to real estate analysts the average apartment price in Noida is Rs. 4,475 sq. ft. which is much lower than Delhi and Gurgaon. Property in Noida has appreciated by more than 50% in last two years.
The highest demand was recorded in Sector 74 as 30.56% in April 2015. Popular and established behind the success of Noida are Amrapali Developers, The Prateek Group, Supertech , Parsvanath , Gaursons , etc.
Noida property is one of the reasons to generate surplus revenues to Noida Development Authority. But even the authority and the state government are passionate in the dream to establish Noida as aglobal city. Though, the developments have been slow and controversial yet social infrastructure has rapidly developed.