Noida stands in the 17th place when it comes to cleanliness of a city in India; by comparison, Gurgaon and Faridabad in the National Capital Region stand at 87th and 237 respectively. The article focuses on the scope of real estate investment opportunities in Noida.
NOIDA, abbreviation of New Okhla Industrial Development Authority was set up as part of an urbanization thrust during the controversial Emergency period (1975–1977). The city was created under the UP Industrial Area Development Act. It is also the location of the NOIDA Film City.
Famous for its residential property, Noida has offered convenient lifestyle to the real estate investors. Real estate Noida offers a wide array of choices for property investments, ranging from plots, condominium, villa, apartments or likewise. Noida, along with being a hub for residential property, is also a centre for commercial property investments. Most of the companies, whether they are Indian or MNCs, find NCR as their favourable location for setting up their offices. Hence, the commercial properties in Noida is always fetching property dealers a lot of money. Noida is developing both as an IT industry hub as well as a hub for other businesses. Evaluating the abundance of IT firms all over Noida, it seems apparent that along with the coming of IT industries, Noida is also becoming home to many BPOs thus pushing up the demand for flats in Noida as well.
If you are visiting this locality with the thought of evaluating the area for investment, you should always keep in your mind the exclusivity of various sectors of NOIDA. For instance, if the property at NOIDA Extension was meant for retail, then it would have probably decided that the sector should have most of the shopping complexes. This may be the possible reason behind the development of most of the retail stores in Sector 18. Calling it as retail market of NOIDA will be appropriate. You will come across ‘The Great India Place’, a multiplex which is home to retail stores of various brands.
The increase in demand of real estate in Noida both, in residential and commercial property has led to a satisfactory appreciation in the value of the property in Noida, and is therefore becoming a centre of attraction for the investors. Developers from all over the Delhi NCR region are investing in making affordable luxury apartments. Investments in a luxury flat and various other real estate projects is been seen very frequently and an appreciation of 30% is observed on the home price each year.
Some important points one should keep in mind while on survey for a desired property are:
• Noida residential properties are usually in the form of plots, autonomous houses, luxury villas, apartments, lofts and flats and group housing.
• The housing communities are mostly concentrated in the sector 14, 15, 27, 28, 29, 37 and 44.
• Noida is the operational base of world-famous real estate agents like as Unitech, Eldeco, OMAX, Assotech and Gaur.
The major reason for the development of residential properties in Noida is because of its proximity to the provincial capital and a satellite project due to which the city has become the hot spot for foreign investors. The Foreign Direct Investment (FDI) in the coming years is speculated at 30,000 crore. Non-Resident Indians prefer to buy residential property as their second home in areas like Noida NCR. But before making these investments, you must also take time to consider some pros and cons linked to the properties. For investment, it may be more suitable to consider smaller properties which tend to have a higher rate of appreciation and demand.
Categories: Real Estate
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