Why are noida and noida West becoming a special choice?
people living in delhi and NCR today are especially preferring noida or Greater noida and noida West when it comes to buying a house. There are actually many factors behind the move of home buyers to noida within NCR. In this regard, vishal Raheja, Founder and MD of InvestoXpert.com, says that in the last five years, noida and Greater noida have evolved from emerging markets to mature real estate hubs. The credit for this goes to strategic infrastructure projects and increasing demand. In the residential segment, especially the demand for 2 and 3 BHK apartments has increased by more than 40%.
This is due to the expansion of metro connectivity, development of Noida-Greater noida Expressway and proximity to corporate hubs. In the last few years, property prices have seen an average increase of 25-30%, with Greater noida West registering the fastest growth rate in the NCR region. This is mainly due to its affordable prices and better access to upcoming infrastructure projects.
He further said that the commercial segment has also seen tremendous growth. With technology companies and multinational corporations setting up bases in noida, the demand for office space has increased. The presence of companies like Infosys, microsoft and samsung has boosted office occupancy rates, especially in areas like noida Expressway and Sector 62, leading to a growth of about 40% in the commercial property market in the last five years. Also, with projects like the Delhi-Mumbai Industrial Corridor (DMIC) and the upcoming Film City in Greater noida, the area is poised to emerge as an entertainment and business hub, which is likely to attract more commercial investments.
Metro expansion and connectivity
Apart from this, better connectivity through metro expansion and expressways has played a key role in this real estate boom. Plans for the Noida-Greater noida Metro aqua Line and metro extension to Jewar airport will further increase the appeal of these cities. Currently, more than 100 new housing and commercial projects are in various stages of development, indicating huge growth potential in the region in the future. The sector will also be boosted by the government's affordable housing and 'Make in India' initiatives. In the coming years, noida and Greater noida are expected to witness new residential and commercial projects with 20% annual growth, further cementing its position as North India's leading real estate powerhouse.
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