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.