Greater Noida, though a part of NCR, is located at a distance of 48kms from Delhi and lies next to Noida. The city has been beautifully and thoughtfully developed as a well-planned and first class city. It flaunts an enviable infrastructural development which is known to be the best on the country. Tactfully located, it is well linked to the prime locales of within and beyond NCR and is flourishing as a major industrial township attracting myriad of businessmen and salaried professionals from other parts of the country.
The city is also a major IT hub with many national and international companies setting up their offices in this region. It is a home to several big brands, news organizations and media houses.
Talking about the realty market of the city, it is renowned as the most preferred investment destination both by investors and end users. What makes it an attractive investment option is the easy and adequate availability of basic elements of daily life, increasing numbers of SEZ’s and townships, well planned infrastructure, and the prominence of educational institutions and universities. Many people invest in the affordable housing segment in this region due to the assurance of higher returns in long run as these low ticket housing options lead to a healthy capital appreciation in future.
Greater Noida these days is witnessing huge development in both residential and commercial projects. The residential realty market is on an upward trend since the time property rates have increased in Noida making it unaffordable for salaried or middle income group to buy a house. The upcoming social, physical and civic infrastructure plans of the area have given it a much needed boost in making it the next Gurgaon.
Other key factors that contribute in making Greater Noida a much sought after destination are:
Easy availability: The city flaunts several upcoming and established sectors which have a wide variety of housing options of different configurations like the region beyond Noida-Greater Noida Expressway, ahead of Pari Chowk and yamuna Expressway. These regions are fully established with a horde of ready-to-move in properties whereas regions like Noida Extension have huge under construction properties.
Affordability: Greater Noida has huge property options in the affordable housing segment. Flats over here are available in wide range of configurations and priced much lower in comparison to other areas of Delhi NCR. There are a multitude of options available since there are huge land parcels available with higher FAR.
Metro connectivity: The extension of metro from Noida City Center till Sector 71 of Greater Noida, up to Supertech Eco Village would provide great connectivity to many other sectors in Delhi and Noida. III.
Physical infrastructure: The township is well connected to Delhi, Ghaziabad and Noida via NH-24. A proposed 130 meter wide road connecting Delhi and Noida, easy accessibility to Greater Noida-Noida Expressway via DND Flyway Toll Bridge etc would allow confortable commuting from Greater Noida to the prime areas of NCR.
Master Plan 2021: Many other social and civic utilities like schools, colleges, hospitals, malls etc have been planned as per the Master Plan 2021 which has been duly approved by the National Capital Region Planning Board.
Thus the region enjoys several benefits like enhanced connectivity with Noida through Noida Expressway, several connecting sector roads connecting it to Ghaziabad and Dadri, Yamuna expressway and ongoing extension of metro. To further compliment this all, there is an integrated industrial township project coming up under the Delhi-Mumbai Industrial Corridor.
Further, to add wealth to the city’s realty industry, the Uttar Pradesh Chief Minister has requested the Civil Aviation Ministry to establish a new Greenfield international airport at Jewar near Greater Noida. However they are required to submit a thorough master plan of the same keeping in mind the provisions of the Greenfield airport Policy 2008. Accepting the proposal, the state government announced the setting up of new international airport at Jewar, the construction for which will start soon after getting all the necessary approvals and clearances.
Since site clearance has been already granted to Delhi Mumbai Industrial Corridor Development Corporation for the construction of a Greenfield airport in Bhiwadi, Alwar District, Rajasthan, this would be third one in the NCR.
The coming up of this international airport will truly benefit the real estate market of Noida and Greater Noida for many reasons
- The state Uttar Pradesh majorly needs infrastructural development and this forthcoming international airport will provide the necessary push to the growth of the region.
- Also, the area Jewar after this latest development will get the much needed full scale recognition which was missing earlier despite of the region being a part of NCR.
- The upcoming airport will lead to heavy investments in the property market affecting the property rates.
- The upcoming airport will provide a lot of convenience and comfort to the people of Western UP who had to travel to Delhi for an air travel.
- The proposed airport will offer several affordable options since it is built under the government’s regional connectivity scheme.
- It will have huge monetary benefits for Jewar’s land owners since the government needs huge areas of land for the infrastructure development also.
Thus this forthcoming international airport is going to change the face of real estate in Greater Noida and adjoining areas.
