Factors That Influence The Growth Of The Property Market In Greater Noida

Greater Noida, which is popularly known as Noida Extension, has gained immense popularity amongst home seekers and investors. Due to infrastructure development in recent times, the city has a positive impact on the residential property market. There is some major infrastructure development in the city – easy connectivity to the central parts of Delhi via the Noida-Greater Noida Expressway, the upcoming Faridabad-Noida-Ghaziabad (FNG) Expressway and the proposed international airport at Jewar.

The proposed international airport project in Jewar has also attracted the attention of builders’ interest in developing residential projects and completing stuck developments in the region. The international airport will be easily connected through the Yamuna Expressway and will help domestic and international travelers to reach Mathura, Agra, and Vrindavan in a limited time frame. The development of an airport in a city will boost the construction of flats in Greater Noida in its vicinity and can transform the area’s economy.

The city has all the essential ingredients for comfortable living, with great facilities like reputed hospitals, renowned educational institutions, international outdoor and indoor sports facilities such as a car racing track, apart from landscape parks, banks, hotels and restaurants, and residential sectors. There are some special industrial sectors nearby residential sectors, thus, encouraging the development of 1BHK flats in Greater Noida close to the workplace.

There are many reasons for the growth of Greater Noida’s real estate market. Let’s know what makes this city a sought-after real estate market

1. Property registration in Greater Noida:

In an attempt to give a boost to the property market, the authorities of Greater Noida are now planning to make the process of registration of the property much easier, for home buyers in Greater Noida.

2. The emergence of co-working spaces:

A lot of co-working space have made their way to the city, as the rate of the property is affordable, in comparison with other popular real estate markets such as Gurugram, while rentals are affordable, too. There is an emergence of co-working spaces in various sectors such as Film City, sectors 2 and 3, Sector 8 and Sector 125 can be seen. Greater Noida is witnessing a growth in commercial development and due to the cheap rentals, the city could emerge as one of the most promising destinations for the real estate market of India, as well as entertainment.

3. Impact of Noida Extension metro : The government in May 2017, gave its nod to the Noida-Greater Noida Metro Rail project (Aqua Line). With the extension of the metro connecting Delhi to various sectors of Greater Noida has generated a lot of interest of buyers in residential and commercial property in Greater Noida. The metro connectivity in the city is going to have a positive influence. It will catch the beginning of more infrastructure development for Greater Noida and a possible price appreciation. Once real estate developers come up with several residential projects in the region, there is a chance that buyers will get attracted towards the city and ready to invest in flats in Greater Noida.

4. High rentals in Noida:

Due to the high rentals in Noida, the residential market in Greater Noida and Noida Extension are flourishing on a high pace.

Hi, I am Shuchi. I am a professional content writer in Clicbrics. I enjoy sharing thoughts and giving advice through my blogs about buying property in Chandigarh.