NCR introduces new investment hub : New Noida
New Noida in recent times has emerged as a new residential investment destination due to the increase investment and expansion of the footprint of Noida city towards its peripheral areas.
New Noida is located in north-east of Noida and encircled by the NH-24 and Dadri Road to the North, Faridabad-Noida-Gurgaon Express-way to the South and Hindon River to the East.
This region includes sectors from 63 to 79 and 112 to 122 and is just 30 minutes from Sector 18 which is touted to be the retail / commercial hub of Noida.
It is also adjacent to Sector 62 or Electronic City which has emerged as a major business hub in Noida.
The Noida city center metro station is just a 15 minute drive. The connection between New Noida and New Delhi will improve, as soon as the extension of the metro line towards Greater Noida and FNG express-way are completed. The extended metro route will connect the existing Sector 32 based Noida City Centre line with Greater Noida West via Sectors 72 and 121. The FNG express-way will improve the connectivity with Ghaziabad, Faridabad and Gurgaon.
Micro market of NCR will have a great potential to grow in New Noida. Areas like NH-24, Raj Nagar extension, Greater Noida West, Kundli, Neharpar, Sohna, Manesar, Bhiwadi and Yamuna express-way etc. are appropriate for micro investment.
Also the demand for the area is increasing; hence we see that this area is a fast evolving self-sufficient market with industrial, office, retail and workforce linkages; a perfect place for developing a residential sector. New Noida is expected to have ample supply for affordable units to meet the demand.
It is noted that New Noida is good for mix of high rise towers and plotted developments. Developers like Supertech, Amrapali, Unitech, Eldeco, Antriksh, Mahagun and Sikka group have already invested in this area.
The price trend of New Noida quoted by the developers for the current project is between Rs 4,000 – 5,500 per sq. ft. depending upon location, developer and stage of construction. This sector is offering apartments at much more affordable prices and which will give a good return on investment over long term.
The area value has appreciated 30–40 per cent over the last two years and will be a good residential investment compared to areas like Noida Extension and Noida express-way due to its connectivity and this area has already become livable making it much more appropriate.
New Noida is also a good option for short term investment, as with an investment period of 2-3 years one can expect a minimum of 15-25 per cent annual returns on investments.
As Noida Extension is touching the maximum price of land i.e. Rs 4,000 per sq. ft., New Noida has become a much more preferred location for investors and end-user.
A recent study claimed that last year there was a dip in absorption trends, although there is no drop in the graph of real estate Noida.
Recently Noida has emerged as yet another outsourcing and IT hub within the NCR region, primarily due to excessive number of launches in affordable housing segments. Among the NCR regions; Noida can be considered as a one of the safe investment destination for real estate.
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Noida is very fast growing city, buyers and real estate developers both are interested more in this upcoming hub.