Noida: The real estate jewel of the NCR By: WireDus, January 31, 2024
In the Indian real estate industry, Delhi (NCR) is one of the top ten cities for real estate investments. In the NCR region, Noida has emerged as a preferred destination for investments that are definitely expected to convert into profits. Both first-time buyers and avid investors find this region highly attractive, given the steady graph the region has maintained when it comes to real estate investments. Not just homebuyers and investors, but Noida is getting investments from companies and the government. The city has witnessed a remarkable transformation in recent years, especially in Greater Noida West, also referred to as Noida Extension.
We will now delve into the dynamics that have brought Noida into the limelight. The range of housing choices available in the region that serve diverse income groups has become a major contributor to the thriving development of residential projects. The other factors that contributed to the surge in demand for residential properties in Noida are as follows:
• Substantial Surge in Land Acquisition: The increase in land acquisition along the Noida Expressway signals strong growth and promising projects in the real estate industry. The land acquisitions by numerous companies, with an estimated value of approximately Rs 3,000 crore, have kick-started projects that hold a projected revenue potential surpassing Rs 10,000 crore.
• Proactive Government Policies: Entering a new era of transparency and accountability, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Act emerged as an initiative by the Central Government to safeguard the interests of homebuyers and ensure expeditious resolution of disputes.
• Great Returns: Research revealed an overall 23% Y-O-Y appreciation in the prices of more than ten localities situated in Noida, with homebuyers and investors setting their preferences on housing societies followed by independent homes. From 2019 to 2020, rates per square foot have nearly doubled in the major housing hubs of Noida. The highest appreciation rates are recorded in sectors, including Sector 108, Sector 142, Sector 143, Sector 150, and Sector 152.
• Well-planned Infrastructure: Noida is one of the best-planned cities in the NCR region. The area is well connected to Delhi and Greater Noida through the Aqua and Blue line metro stations. The accessibility of the city is further enhanced by roadways, including highways and expressways, so that people from distant places can easily travel to Noida. The development of healthcare facilities, schools, colleges, business districts, and commercial avenues makes it a foot-fall-heavy zone.
• Adequate Green Spaces: Apart from wider roads, the region also features green belts for protecting biodiversity and serving as habitats for wildlife. The Noida Authority is responsible for developing and maintaining parks in the region. After receiving a great response for developing Ved Van Park, the Authority will now develop more theme parks, including Arya Van and Japanese Park.
• New Projects: Noida’s appeal lies not only in its connectivity but also in the availability of residential real estate projects. The developers are not only building housing in Noida but are also creating communities. Many homebuyers and investors are attracted to the region as there is something for everyone, transforming the region into a dynamic urban ecosystem. High-street projects giving remarkable returns are leading to a massive increase in buyers’ interest.
Future Growth Prospects
A catalyst for expansion in Noida, particularly in Greater Noida, lies in the forthcoming infrastructure initiatives. Ongoing and upcoming infrastructure developments, metro extensions, and an effort to enhance road connectivity are going to make the region increasingly accessible and convenient for both residents and businesses. These initiatives are laying the groundwork for the ongoing growth of the region.
The outlook for appreciation in the value of properties and rental income is optimistic. Recent reports suggest a Y-O-Y rise in property values, offering an attractive investment prospect. Rental yields also remain on the higher side, offering income potential for investors. This proves beneficial for investors seeking both capital appreciation and income generation. With ongoing improvements in infrastructure and amenities, the region will attract many homebuyers and commercial ventures.
The government’s initiatives on ease of doing business, along with real estate policies, showcase a conducive environment for real estate development and investment in Noida. Moreover, ATS projects are a perfect example of worthy investment opportunities in residential real estate.
In conclusion, Noida truly stands as the real estate jewel of the NCR. Fueled by factors like a surge in land acquisition, government policies, and impressive ROIs, the city has undergone a transformative journey. With diverse housing options, well-planned infrastructure, and green spaces, the city has emerged as a magnet for both homebuyers and investors. The city’s future growth prospects look promising with its high-street projects, complemented by the success of ventures like ATS. This solidifies the position of Noida as a beacon of opportunity and progress in the domain of real estate investment in the NCR.