Against the backdrop of Noida and Gurgaon, one city that has gained its much needed upscale reputation is Greater Noida. Conceptualized as a Smart City, Greater Noida is attracting domestic as well as NRI Investors. Being the satellite suburb of Noida, the city has already being counted among the real estate hotspots of the National Capital Region (NCR).Reputed developers are coming up with several new launch projects in Greater Noida.Why is Greater Noida becoming a real estate hotspot?
When you start driving towards Greater Noida, you can witness the change in the level of infrastructure with your own eyes. You will be greeted by wide roads and ample greenery. The excellent connectivity with Noida and Delhi through a network of highways and expressways is the main reason why Greater Noida rose as a popular investment destination.
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Though the commuting facilities like Delhi Metro are still in development stage, people are already moving into the city because of the affordable rental rates. In the same budget, Greater Noida will provide homes larger and better than those in Delhi. Reputed companies are also opening their branches in the city which will attract younger professional. The coming of new international airport at Jewar will further boost the commercial development in and around the city.
How did real estate prices in Greater Noida perform over the last one year?
According to the price trend report of Investors Clinic, the property prices in Greater Noida have remained quite stable over the last one year. The average price at the end of June ‘15 was recorded at Rs 3,054 per sq. ft. Through this whole time, Yamuna Expressway experienced an upward trend. Its proximity to the F1 Race Track and international cricket stadium has awarded it with this momentum. The localities around Pari Chowk witnessed good price appreciation in the first two months of 2015. The property prices in these areas are still higher than Greater Noida’s average. Other locales like Techzone 4, ZETA sectors and Pi 1 saw several peaks and troughs. Knowledge Park 3 has also seen good price rise.
As compared to Noida, real estate prices in Greater Noida are still quite affordable. What you can get for 70-80 lakhs in Noida can be availed at less than 50 lakhs offering a bigger area. Times are changing for the real estate sector of Greater Noida. Now is the perfect time to invest.
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