Real estate market in India has started showing positive signs of recovery after being stagnant for last few years. A lot of enthusiasm and positive sentiments can be seen amongst the buyers. While much progress cannot be seen in Delhi for the past few years due to the land pooling policy and other legal issues, sky rocketing prices of real estate in Gurgaon appear to be a tough bet for the buyers. property in Noida comes as a wave of fresh breadth for the buyers. However, the city witnessed a slowdown in new launches in the first quarter of 2013 but, unlike Gurgaon, the demand remained steady. Noida is considered to be one of most affordable city among tier I cities. This has added to the attractiveness of the city as a real estate destination.
Captured below are the top 5 reasons of buying Noida property.
Good Infrastructure: The city has the potential to become the next-big-thing in the world of real estate owing to its excellent infrastructure. Availability of land for construction gives the city an edge above other metropolitans like Delhi and Mumbai, the cities where conceptualizing horizontal construction has become only a distant dream. Noida’s real estate seems to have much brighter prospects due to the scope it has for new constructions. The burgeoning industrialization with presence of several blue chip companies and multinational corporations and a slew of development plans up-vote the city.
Existence of Big Players: Some of the Grade A developers are eyeing Noida for their new launches. Property in Noida is witnessing a spate of promising residential projects that are crafted with finest details. The projects offer state of the art infrastructure backed with ultra-modern amenities to cater the high class lifestyle of the prospective buyers. Some of the renowned developers have already floated prestigious projects in Noida and Greater Noida.
Quick Disposal of Forgery Cases: As per new laws, all the cases related to land and property forgery shall now be under the jurisdiction of the Stamps Department. Earlier, these were under court’s jurisdiction and the matters would take years to settle down. But now, the complainants can expect faster disposal of cases. This had brought the transparency into the processes and has strengthened the trust of both the parties, the buyers and the builders.
Better connectivity: Noida is going to get much-needed connectivity to nearby cities, in the months to come. While it is already connected to the capital city Delhi, via metro, the plan to extend the same to Greater Noida has also broken on ground. Once that gets functional, the commutation between Noida and Greater Noida would become far too easier. It will not only save time of commuters but also cut down the traffic woes.
Relatively Affordable Market: At the time when property rates in Delhi, Gurgaon and Mumbai are touching the sky, the prices are relatively lesser in Noida. Though the prices here have undergone appreciation in the first quarter of 2016, they are still lower than their competitive markets. The falling value of rupee against dollar has made several developers come up with discount schemes. Cashback offers and attractive payment plans are other perks.
When compared to property in india and other cities like Mumbai and Delhi, Noida seems to emerge as a silver lining due to its affordable prices and excellent infrastructure, robust connectivity and vibrant lifestyle.