Greater Noida : A fast developing suburb National Capital Region
Greater Noida one of most developing areas in the National Capital Region has become one of the hottest destinations for property investment in the country.
The availability of enormous lease space, low pricing, improving infrastructure and fast connectivity, has boosted the real estate of the area and realty players are already coming back with assured-return projects.
According to reports, Greater Noida is attracting many buyers from different parts of Uttar Pradesh and the capital. The demand for residential and commercial properties is increasing within the stretch of Noida -Greater Noida
Connectivity :
Greater Noida is a planned suburb where roads are wide enough with service lanes for every major road. The connectivity of Greater Noida has improved as the longest 6 lane expressway “Taj Expressway” also known as “Yamuna Expressway” passes through Greater Noida connecting Agra with Noida. Noida Greater Noida Expressway is a 6 lane which connects Noida with Greater Noida and is under expansion to Taj Economic Zone.
Public Transport :
Greater Noida real estate sector is expected to cheer up with the proposal for extending Metro line to Greater Noida being approved by the Noida and Greater Noida authorities. The proposed Metro line project ensures fast connectivity between Greater Noida and Noida. This will connect parts to Delhi and Gurgaon on this rapid access corridor.
The metro stations have been planned at Sector 51, 50, 78, 101, 81, 83,137, 143, 47,144, 153,149, Noida and Pari Chowk, Knowledge Park 2, Alpha 1, Alpha 2, Delta, Knowledge Park 4 Dadri Road and Bodaki.The upcoming metro line is expected to pave way for fast growth of the real estate in Greater Noida.
Even the long awaited road connecting Greater Noida (Zeta Sector) and Ghaziabad (Vijay Nagar Bypass) is likely to boost the realty market in this road between Ghaziabad and Greater Noida with improved connectivity. According to the experts, Greater Noida are likely to increase the cost of land/properties in this region.
For investment it is the right time for people to invest in the area and reap the initial benefits, as the rates are likely to shoot up once the link road is functional.
Social Infrastructure :
The residential and commercial policies of the Greater Noida Industrial Development Authority (GNIDA) have led to remarkable development of infrastructure in Greater Noida.
One of the very famous shopping complexes by AMR Group “The Great Adventure Mall Cir”, is located in Greater Noida. Even few good shopping complexes present there are Omaxe Connaught Place, Ansal Plaza, Central Market etc.
There are many schools, colleges, institutes, play schools, Institutes for a B-tech. MCA, MBA, MBBS, BCA, Bcom, B Pharma, BBA, BSc, Hotel Management and many more courses. Students of Medical colleges and engineering colleges are the maximum who draw the rental demand in Greater Noida. Colleges like ITS Dental College, Apeejay Institute of Technology, Lloyd Law College, College of Engineering and Technology-Institute of Integrated Learning-Academy of Higher Learning (CET-IILM-AHL) are also one of the reasons which attract the real estate investment.
Real Estate :
Being one of the developing region, Greater Noida have many projects that suit the pockets of the mid- income consumer. As per the survey it is noticed that maximum demand during the Jan-Mar 2013 quarter existed for properties in the Rs. 40 – 60 lakh range. However, there is also a healthy demand for properties in the Rs. 20 – 40 lakh range with 23 per cent buyers showing interest.
It is also noticed that the supply of the Rs. 40 – 60 lakh range equalize with demand while the Rs. 20 – 40 range witnessed an oversupply with availability being higher by 4 per cent during the first quarter of 2013. The second-most preferred category was Rs. 60 lakh – 1 crore range.
Real estate of Greater Noida is a mix of different budget properties. Both high-end properties and affordable properties are present and witnessing a huge demand for them. According to sources, a moderate demand of 11 per cent was registered for these properties during the first quarter of 2013.
Looking at the developing infrastructure and good connectivity, the properties of Greater Noida are expected to continue to lure both builders as well as buyers.
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