Buying a property in Greater Noida

Published: 19th December 2008
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Greater Noida is a well-known and fast populating planned township in the National Capital Region. The real estate in Greater Noida has seen phenomenal change in the past few years. Investors and buyers are increasingly buying property in Greater Noida for investment and self-use purposes. Since Greater Noida is adjacent to Noida, it can take leverage of its location. Since Noida is a commercial and IT hub with many companies setting shop here, demand for properties in Greater Noida has also risen. All the population influx taking place towards Noida is being catered to by Greater Noida too.



The property market in the NCR region has flourished a lot in the past few years. When Delhi got overcrowded and the real estate rates reached unaffordable heights, people looked out for areas that could offer affordable living spaces. At this juncture, areas like Greater Noida came into great prominence. Greater Noida not only offers great residential and commercial real estate options but its advantage is that it is close to Delhi and adjacent to Noida.



Builders and property developers took notice of the rising demand in the area quite early and invested in real estate here at the right time. All major builders have their townships coming up in Greater Noida. A lot of commercial activity is also taking place in Greater Noida with campuses of many big companies being set. With such fast development happening here, it has shed the tag of an old city and is coming up as a modern city that holds promise of a world-class lifestyle. A lot of infrastructure development is also taking place in the area.



Because of all these reasons, property market in Greater Noida is flourishing at an unprecedented pace. Both residential property and commercial property are growing with a rocket speed. Even then, the demand is outstripping the supply leading to an increase in rental and property prices. Another reason that has led to rising property prices in greater Noida is its pollution-free environment. The authorities do not allow polluting industries to set their establishments in Graeter Noida. There are dedicated laboratories for measuring the air quality and ensuring that it is pollution free. Thus, it offers green spaces to live.



Since a lot of high-end users are choosing to stay in Greater Noida because of its strategic location, quality constructions are coming up in the residential market of Greater Noida. The improving infrastructure like wide roads, proper underground cabling and excellent drainage system has added to the value of properties in Greater Noida. There are also a number of shopping avenues boasting of world class brands and excellent services tha make Greater Noida an attractive destination for investors.



The escalating prices in Greater Noida have made it a golden investment option for investors. Property rates in Greater Noida range between Rs 2,400-2,800 per sq ft m. In the adjacent Noida, the rate of built up property is no less than Rs. 3.500 per sq ft. Land rates in Greater Noida hang between Rs 16,000 - 22,000 per sq m as against Rs 35,000 - 65,000 per sq m in Noida. Alpha, Beta, Gamma, and Delta are the premium and well-settled sectors in Greater Noida have the going rates for land between Rs 16,000 - Rs 18,000. After these sectors come P3 and Swarna Nagri. In these sectors, the property prices are slightly high.



For commercial establishments, Greater Noida offers attractive value proposition. The IT and the ITES sector have set foot here. These sectors are driving the office market in Greater Noida and account for a major portion of the over all office absorption.



Greater Noida has upped its investment quotient as its connectivity is improving. There are plans to build an international airport in Greater Noida and also connect it by Metro Railway. Then there is Taj Expressway, which is an extension of the 6 lane Expressway from Noida to Greater Noida upto Agra. The Taj Expressway provides direct access to the Taj Economic Zone, International Airport and the Aviation hub coming up along the expressway. Also, there are plans to develop a Night Safari in the city to create awareness about environment & ecology. This will also provide a source for recreation to residents and to boost tourism in Greater Noida. All this will further augment Greater Noida as a premier tourist destination.



Thus, for all those looking to invest in the NCR region, Greater Noida is a good and viable option. It offers world-class living at affordable prices. Properties in Greater Noida are fast developing. Commercial land as well as private land is selling like hot cakes in Greater Noida. The authorities are also taking care that it develops as a planned township and attracts buyers for self-use properties and investment options.



Geetika jain writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At 99 acres, you can advertise a property, search for a property, browse through Greater Noida Real Estate and Properties.

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