How Investor Friendly Is Greater Noida?
To fuel the spirits of entrepreneurship among its citizens, governments through their policies have to ensure that the risk is worth taking and the job is well rewarding. After all investors and entrepreneurs drive a country's economic growth, create employment opportunities apart from paying huge amounts in taxes. In a way, it becomes the duty of the authorities to make sure policies are laid in such a way that do not hinder the business prospects of a region. For instance, its business friendly policies have been operative in Gujarat registering a better growth than many of its peers. It is in this context that we should examine why investment in investors' interest in Greater Noida sees no bound despite the fact that India's real estate sector went through a rough patch in the past couple of years.
Most of us would bet their money on the fact that land prices in Greater Noida are cheaper than other parts of the national capital region, and, hence the greater demand. However, data show land in neighbouring Ghaziabad is cheaper in comparison. What else, then, keeps real estate developers so interested in Greater Noida property? Other would cite growth prospects as the reason and that hold true. But, the growth prospect applies to the other parts of the NCR, too.
This is where the e-initiatives of the development authority comes into picture. A major reason behind this are the business-friendly steps initiated by the development authority, the Greater Noida Industrial Development Authority (GNIDA). It won many applauds when the authority recently launched a fully online a plot selling scheme for about 300 acres of land.
Now, if you want to invest in Greater Noida and want to know all about the process, you could log on to the official site www.greaternoida.com and go to the tab Ease of Doing Business Facilitators. From land allotment procedure to GIS manual and from building byelaws to Master Plan, you will find every piece of information here. The site will also help you on how to submit your proposals, what are the documents you will have to give along with the proposal, what are the things you should be ready with in case of an inspection from authority officials and how to get you water connection fixed. Earlier, you had to run from one office to another just to know the documents that you would require to set up a business anywhere. The unlucky ones got their proposals rejected because the information they gathered proved flawed. Arranging papers should be the last trouble an entrepreneur should face; and the repercussions of this could be deep and long term. It is at this juncture that the GNIDA is making a difference, and the affordability and future growth prospects are giving real estate here a push in the right direction.