Noida is one of the largest planned industrial cities in Asia. Owing to the continuous development in the infrastructure sector, the city is considered as a preferred destination by major players of NCR real estate market. It was essentially a residential market but is gradually seeing a spur in the commercial market as well.
One of the prerequisites of meeting the burgeoning demand for residential and commercial real estate is to acquire land parcels. Since Delhi is already covered with developments up to the brim, many of the multinationals prefer Noida and Greater Noida for setting up their offices.
Noida has something for every budget. NH-24 and Yamuna Expressway are the upcoming localities and are comparatively affordable. Since development is still going on in and around the areas, the property value is expected to appreciate in near future. Whereas, for those who want to buy luxury homes, express highway and sector 150 are recommended as viable options. Some developers are also offering niche properties in Yamuna Expressway and Central Noida.
The new budget has also given considerable push to the infrastructure sector which in turn will trigger the growth of real estate market in NCR. Liberalising the FDI norms, Real Estate Investment Trusts (REITs) and the emphasis on affordable housing are a few other steps to give the much desired thrust to the real estate sector. The upcoming highways, metro connectivity to Greater Noida and Sector 63 and improvement in the organized retail market would also give forward momentum to Noida’s realty market. Offering excellent connectivity to Delhi, Gurgaon and Faridabad, Noida has extreme potential to grow as the new hub of NCR’s real estate.