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Greater Noida is fast developing to be a much sought after residential destination with a horde of best class residential projects coming up here. The locality has become a desirable address for people looking for affordable housing options since the time Delhi and other adjoining areas have become out of reach for a salaried or middle income homebuyer. It is fast becoming an alternate destination for rapidly growing population of NCR. Though there was a little slump in the realty market in the last few years due to the various legal issues but now things have settled down very well and there is a lot of enthusiasm and positive vibes in the realty and construction industry of the city. With the planned International airport and metro connectivity, the property prices are going up and there are a lot of other social, physical and civic developments planned for the city which assure that the region would soon be the next Gurgaon.
Noida-Greater Noida region or popularly known as Noida Expressway is large and effectual 6 lane highway running across 24.53.kms,and it connects the suburbs of Noida and Greater Noida with Delhi, built to divert the congestion and traffic off the National Highway 2.
There are several residential complexes along this expressway that are well equipped and fully loaded with all elements of daily life offering an overall complete and satisfactory living experience. Besides residential, the locality also houses several big business houses, offices etc which further creates a demand for first class restaurants, hotels, shopping malls to be developed in this locality. The area also boasts of several top educational institutions and hospitals etc. Positioned along is a reclining 18-hole golf course, bathed in British relics. Famous as the “job hub” of UP, the region has many top MNC’s like Wipro, IBM, Hewitt Associates and at the same time has many small scale industries also trying to settle on the same platform.
The highlight of the area is its excellent connectivity which acts as an impetus to the booming real estate growth as it has an easy accessibility via all means of public transport. The expressway also flaunts the smooth travel to prime locations like Greater Noida, South Delhi and also gives way to the Yamuna Expressway that connects Greater Noida to Agra.
What makes it an attractive destination for potential homebuyers is its connectivity and prominence of ample social and civic infrastructure that provides daily facilities for commercial, institutional and residential facilities.
Extensively widespread along it's by lanes are infinite number of residential constructions in the form of independent houses, high rise apartments, bungalows etc catering to the tastes and preferences of all types of age and income groups.
Since last few years the Noida-Greater Noida region did not get its due attention and was overlooked in terms of real estate since Delhi-NCR was considered to a hotbed for realty investment. But the trends are changing with a myriad of builders and first class developers heading towards this locality. The reason being very clear and simple that the local builders have fallen short of funds but there is ample availability of land at lower rates with excellent infrastructural development around and the area also flaunts well-built roads and a 6-lane expressway all these key factors combined make Noida-Greater Noida an attractive investment option for top notch developers like Shapoorji Pallonji, Oberoi Realty, Tata Housing and Godrej Properties who are also showing a keen interest in coming up jointly in this region. For Example, Microsoft has a campus planned here on the cards, Godrej has tied up with Lotus Greens, IKEA also has plans to set up their base over here, HCL is planning to launch its second and a bigger campus here. There are many other big global houses who want to relocate and set up their offices in this belt.
Further giving it a boost, the Noida-Greater Noida locality which is quite notable for its well-planned infrastructure, is expected to get a grant of Rs 16,000 crores by the local authorities, for further infra up gradation and for the construction of a 30 kms long metro link to be up by March 2017.
50% of its 7000 crore budget has been reserved for land acquisition by the Greater Noida Authority and the remaining amount to be used for the planned metro-rail project. As anticipated by the Noida Metro Rail Corporation MD, if the work on the project keeps on going at this speed, then the metro line shall be open for public by End of December 2017.
The icing on the cake is that the Noida Industrial Development Authority also proposes to spend approx. Rs 6000 crore on infrastructure development, Rs 400 crores for the construction of flyovers, underpasses and elevated roads and Rs 220 crores to construct multi-level parking in various areas, Rs 180 crores on providing basic utilities like water, power etc, undergrounding of electricity lines and installation of sewage treatment plants.
Thus all these efforts together will reform the Noida-Greater Noida realty sector bringing an immense development and an incalculable facelift and making it a property hotspot.
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