NOIDA: Noida is one of the few cities in the country which is known for its planned development—also , it has a lot of greenery and open spaces. It has far more planned urban infrastructure, with clear demarcation of residential and commercial sectors, than most other real estate destinations of the NCR.
The area offers good options to middle class and lower middle class people with a number of projects launched in the affordable range in this area. Developers , realtors, and property professionals , too, are upbeat about the future prospects of the sector in this hot location.
Average property rates here are in the range of Rs 4,200 -5 ,000 per sq ft and onwards , depending on the size of the property and the location.
The main attraction of Noida is the presence of world-class infrastructure in and around the city.
The Noida authority is setting in motion several plans to further improve infrastructural facilities here and promote real estate development in line with the revised master plan.
In Master Plan-2021 , there is a plan to build and develop international-standard infrastructure like 75metre- and 150metre-wide roads, a number of flyovers, underpasses, roundabouts on expressways, sewer-treatment plants (STP), a new 400MW power grid, Ganga water supply, etc. The authority is also working to broaden the Metro connectivity to other parts of the NCR.
Because of this planned development and superior infrastructure , a number of reputed realty players like JP, Unitech, DLF, Parsvnath, Omaxe, Antriksh, Amrapali, Supertech, Unnati Fortune , Assotech Realty, Assotech Ltd, Ajnara India , Gulshan Homz, Mahagun, etc, have launched projects in different locations in Noida and Greater Noida.
The sectors along Noida-Greater Noida Expressway are the most sought-after locations in Noida today. The area comprises Sectors 124-144 . The micromarket has a good mix of commercial , residential and forthcoming projects in retail, hospitality, education, and healthcare.
Noida-Greater Noida Expressway has also emerged as the next 'go-to ' location for office space due to the shorter travel time for commuters coming from New Delhi. Experts say this is owing to better approach and negligible traffic congestion along with better quality of construction.
While demand for affordable housing is high, premium properties, too, have attracted buyers in prime locations like Sectors 32, 44, 74, 75, 76, 77, 78, 94, 119, 137, 143, 142, etc. These sectors offer great scope for strong and sustained growth for all segments of the realty sector. A number of premium projects including villas have been launched in Noida.
The new master plan has provision to extend the Metro network and connect Noida and Greater Noida with the developments on the expressway. A 28km-long track will be constructed between Noida and Greater Noida, which will be further extended up to Yamuna Expressway. This line will link Sector 32 via Sectors 50 and 71.
The master plan also has provision for adequate supply of water, power, and sewage. Plans to develop basic infrastructure include a road network of over 20km, a 126MW captive power generator, and sewage treatment plants with aggregate capacity of 30,000 kilolitres per day.
As per the master plan, 70% of the total development on Noida Expressway and Yamuna Expressway is to be green. Space has been allocated for 40 educational institutes and a variety of retail shopping facilities.
Due to infrastructural development and good connectivity the demand for residential apartments along Noida-Greater Noida Expressway is growing.
In the last five years, residential units along the expressway have registered more than 50% increase in average capital value—going from Rs 3,500 per sq ft in 2009 to Rs 5,200 in 2013. The development of worldclass infrastructure in Noida and the stretch along the Noida-Greater Noida Expressway has led to more launches of residential projects, from affordable to mid-segment to luxurious projects, all of which come with high technology and worldclass facilities.
The fast developing residential segment has given impetus to ancillary sectors like education, healthcare, and hospitality . Several reputed schools like Delhi Public School, Ryan International, Jaypee Public School, Somerville International School, The Shriram Millennium School, Genesis Global School, Lotus Valley International School, Mayoor School, JBM Global School, and colleges have been established in this area. Several hospital chains are also planning to open their branches in the area. Popular hospitality brands like Westin Resort , The Lalit Grand, Grand Hyatt, and Marriott have planned projects along the expressway.
End users should invest in this area primarily due to the well-planned and sustainable infrastructure development along with the availability of affordable and mid-end residential options with world-class social as well as physical infrastructure . For investors also, Noida provides good opportunities . Investment in real estate is rewarding in the long term. Real returns from real estate are the highest among all the asset classes, DTZ, a global consultancy firm says in a report. But for this, one must locate the right areas to invest and should remain invested for a longer period