Five indispensable reasons to buy a property in Noida
There have been plentiful talks about how Delhi/NCR is one of the hottest realty markets in India. However, the actual star of this shining story is Noida, an urban city with promising future prospects.
Notwithstanding the gloomy economic scenario, a recent report by Cushman & Wakefield has ranked India as the 20th best realty investment destination in the world, with an investment volume of $3.4 billion in 2012. While a majority of this investment was in Bangalore, the IT hub of India, it was closely followed by Mumbai and Delhi/NCR. The National Capital Region recorded a humongous INR 700 crores in realty investment, lion’s share coming from Gurgaon and Noida.
While Gurgaon has almost saturated in terms of land availability and real estate prices, the onus for keeping this growth on track now rests on Noida, a satellite city, right next to the national capital. The city stands at the 17th position in India when it comes to cleanliness, in contrast to Gurgaon’s 87th position. Physical infrastructure is highly planned and gives good company to residential and commercial real estate projects, while Gurgaon and Faridabad are plagued by lack of good associated physical infrastructure. Therefore, it is not hard to guess that Noida is the future of realty in NCR.
- Proven IT and industrial prowess
Established during emergency period (1975-77) as a part of the urbanization drive, Noida has proven to be an optimum base for multinational firms rendering IT/ITeS services. Global leaders like IBM, Dell, Hewlett-Packard, Ericssson all have their offices in the city. Besides, many leading BPOs and software companies operate out of the city. Things that have affected their decisions regarding making Noida as an operating base includes its Special Economic Zone status, proximity to Delhi and its suburban atmosphere. There are no two thoughts about it that all this growth has had a tremendous impact on the real estate in Noida, making it a goldmine for commercial and office segment of real estate developers.
- Noida a better alternative to Delhi
Delhi is already under immense pressure owing to lack of space, a colossal population, and sky-high property prices. Under such circumstances, it would be nothing more than wishful thinking to assume that an average Indian can buy a moderately-sized home here in his lifetime. However, Noida, with its bouquet of luxurious yet affordable homes and benefits of smooth and easy connectivity through various means to every part of Delhi, has proven to be nothing less than a savior.
- Noida Extension and Greater Noida; the future is bright
Since it’s been quite some time since Noida came in to existence (17 April, 1976 to be precise), it’s inevitable to conclude that the city must have reached some sort of space constraint. However, similar conclusion doesn’t hold true for Noida extension and Greater Noida, which are still in the different stages of development. These areas are in direct contact with Noida, hence the similarity in their names, and are backed by excellent infrastructural facilities.
- A slew of upcoming world class facilities
Soon enough, the region is going to become a world class destination, all thanks to the state government which is planning to develop an international airport, a railway station and metro network till Greater Noida. The master-plan has already been approved and budget has also been allocated. As the construction activities take their own course, it is for investors and buyers to make this wise choice of buying a property in Noida. The new metro line will directly connect Noida City Center to Greater Noida, improving connectivity options for Sectors 70, 71, 77, 78 and others. Upon completion of the project, buying a property in Sector 77 Noida will become a profitable prospect.
- Regulated real estate market environment
Unlike some of the other major realty markets in India like Mumbai, the real estate environment is highly regulated and under direct control of the authorities, ensuring fair prices and transparent deals. The realty prices are independent of speculative market tactics and indicate the true value of the property. In addition, the developers are highly supportive of buyers and investors, making sure neither of the two parties is left with any sort of dissatisfaction after the purchase.