Wednesday, September 16, 2015

Taking a Look at the Greater Noida Property Market

Greater Noida is on the cusp of bigger things as far as its real estate market is concerned and may be the next growth node after Noida.

Search for residential apartments in Greater noida

Looking for apartments in Greater Noida or new projects in Greater Noida? This may well be the best time to snap up properties in the area according to experts owing to the rapid and skyrocketing residential and infrastructural development here. We all know of Noida’s rapid transformation and growth in terms of infrastructure. The next phase of this growth will be witnessed in the Greater Noida belt as per the opinions of experts and market observers. There are several options available when it comes to residential flats in Greater Noida. The residential market started booming in the Greater Noida region from the 2009-10 period onwards. There were several realty transactions taking place in this period and these were majorly driven by investors and end users alike. The percentage of transactions has grown in recent times and investors usually prefer individual houses and plots here along with apartments in self sufficient complexes.

There are several properties in Greater Noida that are being launched by several prominent builders in Greater Noida. The property rates in Greater Noida are comparatively lower than mainstream areas in Noida. The Noida city centre and other areas have witnessed a huge rise in prices owing to rapid development and infrastructural progress. This has led to a shift to places like the Noida Extension and Greater Noida. Capital values have gone up in the Greater Noida belt though they are not as high as you would imagine. The area is also home to several affordable housing projects and this has led to a steady increase in demand. Developers are now selling projects even before their completion. There is no longer the problem of unsold housing inventory and dipping sales. The development of the proposed 45 meter road flanking the Expressway will be a huge boost for the realty sector in Greater Noida.

The Yamuna Expressway has already contributed to a majority of the real estate growth and development in the area. Sector 128 has been booming rapidly in addition to surrounding areas. Demand is huge for apartments priced between Rs. 30 to 40 lakhs while easy connectivity to Gurgaon, Delhi and Faridabad is the biggest advantage that Greater Noida offers to residents. The proliferation of connectivity avenues and a well developed civic infrastructure framework has led to Greater Noida’s transformation into a prime residential destination in present times.

Demand is a little weak in the Rs. 20-30 lakh price band in Greater Noida though as buyers prefer to invest a little more for 3 BHK apartments with premium amenities and a quality complex to live in. The hotbeds of development and progress in Greater Noida include Beta, Delta, Gamma and Alpha localities which are the most developed neighborhoods of Greater Noida. Sectors 37 and 36 have also seen rapid development in addition to Sigma, Swarn Nagari and Eta among others. The rental market has also been relatively prosperous in the area while there are several educational institutions present here as well. The metro railway network has also boosted the real estate sector in the area immensely.
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