Real estate in NCR has been the worst hit as compared to other
cities in India. It has seen the sharpest fall in property prices and
correction. Unfortunately, the ordeal is still not over; all possible
speculations about the recovery cycle have already failed; it’s anybody’s guess
as to when will the real estate sector shift to its “ache din’ cycle.
Out of all the cities which conglomerate to form the NCR region,
the one city which is showing signs of real estate recovery, it is Noida. Property in Noida is showing early signs of recovery. There are a number of factors
which have contributed towards this recovery cycle of real estate in Noida.
The real estate
developers in Noida have not
allowed the projects to be stalled, there may have been a slow-down and delay
in deliveries, however, projects have not gone into a limbo or freeze. This has
enabled capital inflow into real estate
in Noida, though at a slow pace; keeping the market sentiment and
investor confidence intact.
The administration has ably supported the real estate sector in Noida, it has kept the pace of
infrastructural developments high. Basic amenities in terms of internal roads,
outside connectivity, water supply, extension of electricity and sewage have
all been taken care of. Extension of Metro on two axes right up till Greater
Noida is another important project being completed at a fast pace. Metro has
taken into account the real estate construction
in Noida and is covering the
areas like Greater Noida Extension where construction is underway. In terms of
infrastructure Property in Noida
hold a very high promise as compared to any other city in NCR.
The property prices in
Noida are the icing on the cake. One of the biggest reasons for Noida to
retain its investor confidence has been the realistic price tags. Property in Noida is still not out of
reach of a middle class setup, as is the case with other cities in NCR. The
affordability of property and real
estate in Noida is its biggest ‘oomph’ factor. This has kept the Real
estate developers in Noida under check and in turn
restored the market sentiment.
Greater Noida West with its spread from Gaur Chowk to Pari Chowk
in Greater Noida, is one of the best developing areas in Noida form the
livability as well as investment angle. The property rates in the area are
affordable and the infrastructure is coming up fast. The area has a good
connectivity to the FNG, New Delhi, as well as towards Greater Noida.
It is probably the most opportune time to invest in Property in Noida. With things looking
up in the next couple of years the investments are likely to yield handsome
returns.
