New Okhla Industrial Development Authority or NOIDA is a city in
the National Capital Region of Delhi. Essentially part of the Uttar
Pradesh state of India, Noida has become one of top industrial cities in
the country. It was set up in the 70s to promote urban planning in the
localities closer to New Delhi as land availability was limited in Delhi
for any further expansion. A little known fact remains that Noida has
the highest per capita income in the whole of NCR. Noida real estate is
surely flourishing with a lot of activity creating a steady demand for
flats for sale in Noida.
Noida is situated in the Gautam Buddh
Nagar district in the state of Uttar Pradesh. It is only 20 km away from
New Delhi and Greater Noida, an extension of Noida and a developing
locality by itself. Noida enjoys a strategic location it is bound by
Delhi, Ghaziabad, the Yamuna River and Hindon River on its sides. Parts
of Noida also constitute the catchment area of the Yamuna River. Noida
Extension is a part of Greater Noida governed by the Greater Noida
Industrial Development Authority. Greater Noida was planned in such a
manner that it holds about a million middle and upper middle income
group of persons.
The entry of big developers tends to improve
market sentiments and helps the realty sector revive from its prolonged
period of lull. How the market responds to this mega budget projects is
yet to explored and explained. "Mumbai, Delhi-NCR and Bangalore are our
major markets.
Noida real estate is supported by great
infrastructure. It is considered to be one of the cleanest cities in
India. With good physical infra like roadways and suburban rail and
metro boosting connectivity in the region, Noida has become a top
investment choice for builders as well as buyers. Recent reports suggest
that top develop Godrej Properties has entered the Noida real estate
market. This housing project is said to be premium and mid segment flats for sale in Noida.
We
are looking at more projects in Delhi-NCR. We do not have presence in
Noida which is a key market in Delhi-NCR. We are looking to add projects
in this market as well. It is a good time to add new projects as real
estate market is facing slowdown. It will be in next fiscal. We are
waiting for the approvals to start the project" said CEO Pirojsha Godrej
to PTI
In the meantime property rates in Noida, Greater Noida and
Yamuna Expressway have shown steady appreciation. Builders are keen to
invest around these regions as it acts as a hub for major connecting
roads in Delhi NCR. Most localities in Noida have properties in the
price range of INR 5000 to 6000 per square feet. However top notch
localities like Sector 44 has shown a remarkable pricing of INR 10,000
to 12,000 per square feet. This is because of the premium nature and
exclusivity of this sub locality.
