Future of real estate seems bright in Greater Noida
Mar 01, 2014
Source : The Times of India


DELHI: Despite the fact that demand in the realty sector is slow to some extent the Greater Noida Industrial Development Authority (GNIDA) has recently announced a 10.21 per cent increase in the allotment price across all categories of land in the city. The new rates will be applicable from April 1, 2014 onwards. However, this is not the first time that such an increase has taken place. The GNIDA follows this practice almost every year. For instance last year too, the GNIDA had hiked the land rates by 8.53 per cent.

But, it is certain that the hike in the land prices by the GNIDA leads to hike in the real estate sector in Greater Noida. It also leads to hike in the prices of all types of properties. There is a possibility that developers may also hike the allotment rates. Investors, end users and others, who find themselves a “misfit” in other regions of the NCR (National Capital Region) due to financial constraints, are usually “fit” for Greater Noida. This is because the rates in the real estate sector are still “affordable” in Greater Noida as compared to the other regions of the NCR.

The most favourable point in Greater Noida is that investors, end users and others associated with the real estate sector consider their investments “safe” in Greater Noida.  Only because of this reason the land prices in Greater Noida did not come down even during the recession. The main reason behind this mentality is the “price affordability”. This is why Greater Noida is becoming everybody’s choice for land or property at “affordable” rates.

There are apprehensions of a hike in prices of land and property with the recent hike in the allotment prices by GNIDA. It is expected that the rates in the real estate sector will further increase in the area after the parliamentary elections 2014. It is hoped that the market sentiments will improve after the formation of the new government at the Centre.

Interestingly, Greater Noida is being connected with the Metro. It is expected that work on the Noida-Greater Noida Metro rail project will begin in May or June 2014. Once the project is completed, it will improve the public transport system. There is also a proposal of launching hi-tech city bus service in the next few months. This will add another feather to Greater Noida. Players in the real estate sector are hopeful that the price of land and properties will get a push after these two projects are completed in the future. Besides, there is also a proposal of starting helicopter services for tourists between Greater Noida, Mathura and Agra. Efforts are also on to further improve the civic amenities in the area. Efforts are on to provide 24-hour water supply to the residents.

Latest Realty News

Fliers to fill up new immigration form from tomorrow
Mar 01, 2014
DELHI: Passengers flying into India will have to fill up a new immigration form from tomorrow to declare Indian currency exceeding Rs 10,000 being brought by them, among others.
Greater Noida West brings opportunity for retail buyers
Mar 01, 2014
DELHI: Commercial property has always been considered a huge investment and preferably a deal made for corporate houses, MNCs, big and foreign investors. Retail players or small buyers always find it too expensive due to location, size and cost. They can hardly get a small office space so they prefer to rent a small office space to run their operations. But for the first time in the NCR, Greater Noida West is offering opportunity for retail and small buyers too. Multiple projects are offering no
Sahara chief moves apex court for cancellation of NBW against him
Feb 28, 2014
DELHI: Sahara Chief Subrata Roy today moved to Supreme Court seeking cancellation of non-bailable arrest warrant issued against him and undertook to appear before it on March 4.
DDA goes ahead with Kathputli Colony plan
Feb 28, 2014
DELHI: Despite protests by the residents of Kathputli Colony against their eviction and being shifted to a transit camp at Anand Parbat, the Delhi Development Authority on Monday decided to go ahead with the same for redevelopment of the colony.
DDA may scrap chulha tax
Feb 28, 2014
DELHI: Chulha tax, which was levied on people who came to the capital after Partition, may be scrapped.The proposal by DDA will regularize the property of families paying the tax, DDA vice-chairperson Balvinder Kumar said on Thursday. The tax was initially levied on about 300 families at the rate of 'one chulha per family'.
Global investable real estate to grow by more than 55 per cent by 2020
Feb 28, 2014
DELHI: Rapid urbanisation and demographic changes, especially within emerging markets, will lead to substantial growth in the real estate investment industry over the next six years, according to Real Estate 2020: Building the future, a new report from PwC. At the same time as the industry’s opportunities grow, so too will assets invested into the sector.
Neharpar on strong growth trajectory
Feb 28, 2014
DELHI: Neharpar of Faridabad is well on its way to becoming a realty hotspot with the new initiatives by development authorities like Huda to further integrate the city with Delhi and the neighbouring NCR cities. Also, Delhi Metro is planning to extend its corridor to Faridabad in the near future. These, coupled with the increasing housing demand prompting developers to launch a slew of new residential projects across segments, have put Faridabad on a strong growth trajectory.
Bhiwadi offers quality living at affordable rates
Feb 27, 2014
DELHI: The status of Bhiwadi as a priority town of the NCR has catapulted it to a pole position and put it firmly on investors’ radar. Known primarily as an industrial town, Bhiwadi comprises industrial centres of Bhiwadi, Khushkhera, Chopanki, and Sare Khurd. But today Brand Bhiwadi stands for quality living at affordable values, amongst other things. Comparatively low land prices, increasing housing demand, and good connectivity with Gurgaon and other parts of the NCR have attracted the attent
Dwarka Expressway: ‘Destination next’ for property buyers
Feb 27, 2014
DELHI: With property buying becoming increasingly difficult in Delhi, the NCR, especially Gurgaon, has become a major alternative destination where real estate projects have mushroomed at an unprecedented rate. Over the past 10 years, the pace of growth of the real estate sector in Gurgaon has been unparalleled and new housing societies, commercial complexes have emerged at a rapid pace.
Housing demand across segments remained weak during 2013 : CBRE Report
Feb 27, 2014
DELHI: A slowing economic growth, coupled with high property prices and steep interest rates, resulted in weak demand for housing during the second half of 2013, according to CBRE’s bi-annual India Residential Market View report for H2 2013. High vacancy levels and rising construction costs led to a slowdown in construction activity, leading to a decline in new launches, and further delay in project completion timelines.

Latest Realty News Of State

Realty Talk's