June 18, 2024


Mad about real estate

The Real Estate Market of Noida

New Okhla Industrial Development Authority, in short Noida, is an exceptionally modern suburb district of Uttar Pradesh in India. The city came into existence in 1976 and was coined as a modern industrial city under the up Industrial Area Development Act, 1976. Being one of the largest industrial towns in Asia, the city has gained a lot of popularity in the last few years. Besides that, it is also emerging as a preferred IT, ITES destination in India.

Noida is an imminent residential township that already serves to a little more than five lakh people. This NCR town is one-stop destination for all those who are looking for a property in the form of big villas, flats, individual plots and stylish apartments.  This is one township where almost forty percent of the total land available has been reserved for residential set ups complete with all the basic amenities, state-of-the-art infrastructure and other public facilities. Some other residential projects offered in the area include group housing projects of selected categories and groups, such as Army Welfare Housing Organization, Air Force and Naval Housing Board.

Other than that, Noida has become a hub for multinational firms, call centers and corporate offices who offer their services here. Considering the city is in the periphery of the national capital, many multinational and Indian companies have their Indian branch offices in Noida, because of the special economic zone and its nearness to Delhi.

Despite the slump witnessed in the realty market, real estate in Noida is still a great option for purchasing or investing in residential and commercial property. Properties are being developed in the city by realty majors such as DLF, Ansals and Unitech. If you are looking for a property in the city, you’ll see great works of these developers in the form tall residential and commercial buildings.

Noida is a relatively new township and is immensely preferred by working professionals who are employed in multinational companies in the NCR. Most of the townships, plots and apartments in Noida are built over a large plot thus, giving the entire city a luxurious and quality appeal, which is perfect for the youth.

One can find a number of well-developed residential flats, plots and bungalows available in the areas, which are up for sale in Noida. Apart from the residential demand, which predominant in the city, it is also one of the preferred areas for all those who are looking forward to establish their offices in the vicinity. There are also a number of commercial plots, offices which have been recently constructed and are now up for sale.

Since Noida has been coined as the new hub for the service industry, there are a number of property options for people who are searching property in Noida. They can check out the recently constructed plots and building spaces which make use of latest architecture, are comparatively fair-priced and are ideal for any kind of business purpose.

Noida property market has a lot to offer to all those who are looking to live on rent. One can easily find properties for rental purposes in both the residential and commercial sector. Most of the constructors and developers who have worked on new townships prefer to give up the properties on rent as a huge leap in the demand for well-furnished properties available for rent has been witnessed.

Infrastructure in Noida is also worth talking about. It boasts of wide roads, stylish residential townships and shopping plazas that have attracted a very cosmopolitan culture.

Unlike other areas, where there is no guarantee of completion of projects, construction of residential and commercial properties in Noida, Greater Noida and Indirapuram is moving at a fast pace. Various MNCs like Accenture and GE have purchased over a million sq.ft of area, and real estate consultant, Jones Lang LaSalle is expecting a further rise in rates when the international airport in Noida comes up.

Noida is one of those cities in India, which have been developed in a well-planned manner. The government of UP has initiated planned development of this township with improved infrastructure and superb connectivity via the DND expressway to Delhi, creating an up-market self-contained city.

With the constant rise in population, the demand for better homes has risen considerably in North India. People have started moving to new and emerging townships which have been developed in a organized and planned manner. Noida offers the best residential and commercial platform to such people.