Noida, one of the biggest metro-cities of India, located in NCR, is one of the most popular areas for homebuyers, thanks to well-planned infrastructure, decreased housing costs in the aftermath of the Covid-19 epidemic, and forthcoming and present IT and ITeS.
The approval of India\’s largest airport and Film City, as well as foreign investment in data centres and one of the most prominent IKEA\’s planned retail destinations, has propelled Noida\’s luxury real estate market, which had been stagnant for over a decade, to new heights.
Market Scenario
Since August of last year, markets have been recovering, with a lot of demand coming from the affordable housing segment, tiny to mid-ticket sizes. The majority of order comes from those homebuyers who have been waiting to invest in real estate at the lowest possible price. The coronavirus outbreak increased demand for properties in Noida, which is regarded as one of the most well-planned cities along the lines of Chandigarh.
According to analysts, homebuyers search for offers that provide the lowest costs with more amenities. With the inventory overhang and price drop, it is becoming one of the most sought-after locations to live. From the standpoint of the homebuyers, the Noida market looks quite good in terms of infrastructure, surplus supply due to unsold inventory from the previous year, and the presence of numerous real-estate firms.
Reasons behind homebuyers\’ attraction towards Noida Realty
Greater Noida and Noida accounted for over 33% of residential project releases in Delhi-NCR, with Greater Noida West, Yamuna Expressway, and Noida – Greater Noida Expressway being the most popular destinations for homebuyers and new project launches. In addition, the twin cities of Noida and Greater Noida sold more than half of all residential units in Delhi-NCR, indicating a bright outlook for the real estate market in 2021. The majority of the units sold were ready-to-move homes with a price tag of less than Rs. 50 lakhs.
More and more homebuyers are getting attracted to Noida because, at present, the homebuyers are already benefiting from lower property prices, competitive home loan rates, and some other discounts. Thus, this appears to be an excellent time to buy a new home or upgrade an existing one.
Coming onto the connectivity, market and neighbourhood of Noida, nothing a homebuyer in Noida has to compromise with regarding these three factors. Greater Noida West, Sector 150, is one of the most known markets of Noida where you will get everything. Moreover, Greater Noida West is known for its proximity to Noida and Ghaziabad; this location draws mid-segment homebuyers searching for affordable houses, mostly end-users.
Furthermore, sector 150, which is located along the Noida-Greater Noida Expressway, is surrounded by business centres and SEZs and has a Metro connection and direct access to the Taj Expressway. The majority of homebuyers select this region because of the better career opportunities and well-developed infrastructure.
Wrapping Up
It goes unsaid that Noida is the most significant upcoming tech and commercial hub of the nation. Thus, the property prices will indeed be rising in the coming few years. Being a tech and commercial hub, many people from different places travel to Noida, and it is evident that they need a place to stay. Thus, investing is also one of the best options if you want to get some property.
