3 Reasons That Keep Realty In Noida Going
While reporting that a 1.26-lakh square metre plot worth Rs 1,000 crore saw three bidders queuing up to get a chance to build a group housing complex at Sector 43 in Noida, media reports marvelled at the fact that while major real estate markets across the country are witnessing a downturn, Noida has potential buyers lined up to grab any available piece of land. Despite many advantages, neighbouring Gurgaon and Ghaziabad have failed to register growth which could match Noida's growing popularity.
What makes real estate in Noida so desirable?
- When compared to other parts of the national capital region (NCR), property in Noida is affordable. This factor gains more significance in the light of the fact that the city offers infrastructure and services which are either comparative to pricey NCR cities like Gurgaon or better than cities such as Ghaziabad, Manesar or Bhiwadi that fall in the same league. For instance, Noida has office complexes and malls that can give expensive Gurgaon run for its money, while offering better connectivity than neighbouring Ghaziabad. It is also greener than other satellite cities of Delhi.
- Authorities in Noida have also been doing a great job of improving the city infrastructure over the years. Thus, the city has earned a brand name when compared to another NCR city situated in Uttar Pradesh, Ghaziabad. The property in Ghaziabad is cheaper as compared to Noida. So, it's not just the affordability factor that attracts more and more home buyers to prefer Noida over other NCR towns.
- While property prices in Gurgaon have hit a saturation point, rates in many Ghaziabad localities have a lot to catch up for several reasons. This disparity in rates is indicative of an unstable growth. On the other hand, property prices in Noida have registered an even appreciation over the years, a clear sign that future growth, too, will be steady. Investment in Noida properties is likely to yield better on investment.