Located on the South West of Delhi-NCR region, Noida is one of the major metropolises in the North India known for being a blend of real estate, manufacturing, service & tourism industries.
In the recent times, the realty market sentiments in Noida has not remained unscathed from the general slowdown that has swathed the entire Delhi NCR region due to inventory overhang. However, Noida that also includes Greater Noida, Noida Extension & Yamuna Expressway is authoring new corridors of infrastructure & economic development.
The otherwise subdued sentiments are once again crackling with the flames of new launches & major infrastructure upgrades. As per the report by Colliers International, for Q3, 2016; one out of six new launches in India is situated in Noida. With new roadways, tourism mega projects & urban clusters in the offing, the realty market in the city is expected to further move up the curve in the times to come. The city & its adjoining region could be a safe bet for both segments- end users & investors.
Noida East would Continue with Significant Growth
The eastern part of Noida that comprises of hosts of major residential sectors such as sector-70 to 79 & sector 118-121, continues clocking reasonable growth even amidst a general slowdown in absorption. Most of the locations have grown by 0.6 -1.3% Q-o-Q.
The market in Noida East is driven by robust social infrastructure & surge in demand. As a growing community, near around 400,000-500,000 new residents are further expected to join Noida East soon.
A large percentage of population on Noida East commutes to New Delhi & Gurgaon for work. Presently they use Noida City Center metro station. However, with the proposed extension of the metro line, metro is soon expected to enter the Noida East Micro market. The arrival of metro is expected to wield more eminence to the to the real estate industry in the given market.
Source: Square Yards Global Intelligence Cell
Other popular micro market is expressway (Not to be confused with Yamuna Expressway) located between Noida & Greater Noida. The Micromarket has a significant presence of major IT companies such as Accenture, Dell, HCL & Cognizant, that drives the demand for quality residential unit. Major developers in the micro market include Supertech, Amrapali, Gaursons, Mahagun, Antriksh, Ajnara, Panchsheel and Arihant among others.
Upcoming Roadways- Boost to Infrastructure
In & around Noida, major roadways including Faridabad-Noida-Ghaziabad (FNG), Yamuna Expressway & Hildon Bridge are under construction, that will enhance the connectivity between Noida & other parts of Delhi NCR. Adjoining to these roadways are upcoming residential hubs & new launches.
Work is under progress on the FNG highway that will conveniently connect Haryana with UP. Out of the total 56 KM, the Noida region will comprise of around 20 KMs of the stretch. Some sources indicate that FNG might be extended to connect with Sohna, thereby further smoothening the connectivity in the Delhi NCR. After FNG is operational residents from UP & Haryana can commute bypassing Delhi.
Work is almost complete on the 8 lane Bridge over the Hildon river that will connect sector 118 & 121 in Noida with the sector 1 & 4 in Greater Noida. The bridge will smoothen movement between Noida & Gr. Noida & elevate residential activities in these parts.
Yamuna Expressway, the 165 Km roadway between Greater Noida & Agra is located on the Southern frontiers of Noida & evolving into a self-sufficient economic corridor comprising of world class commercial, residential, entertainment & education facilities.
Yamuna Expressway could be the Future
Yamuna Expressway, as discussed above could be one of the epicenters of growth & urban activities in the Noida region in the times to come. Often called the Expressway of the future, the 165 KM long roadway will connect Greater Noida with Agra & reduce the travel time between the two, drastically by around 90 minutes. Bordering the Yamuna River, the mega project will have a host of mega projects such as education universities, residential communities, sporting complexes, tourist attractions & much more. The Jewar airport is also supposed to be located on the Yamuna Expressway. The greenfield airport once operational can significantly elevate the economic profile of the Yamuna Expressway.
Greater Noida Acclaimed as the Tourism Destination of the Future
With a host of high profile tourism projects in the pipeline, Greater Noida is expected to soon make its mark felt on the global tourism industry. Post, inauguration of the Buddha Circuit in 2011, it has already got the glimpse of how a global metropolis should look like.
A large night safari & world class cricket stadiums are in offing. It is expected that post inaugurations of the stadium, international level IPL matches will be conducted in the Greater Noida Sports Complex ground. IPL matches in conjunction with Night Safaris & other major tourist attraction could be great experiential pull for tourists around the globe. Night Safari will be built across a sprawling area of 250 acres with E&Y assigned as the advisor. It is estimated that the total cost of the project will be in tune of INR 1500 crores (USD 218.6 million).
The night safari will be built on the lines of open zoos in China & Singapore. Expected to be opened on 2017-18, this will only be the world’s 4th such adventure. Greater Noida also has the India Expo Mart, one of the largest marts in Asia.
Positive Sentiments Would Continue
Noida will continue to attract investors & buyers in the times to come. Noida is secured, stable & there are healthier sentiments driving the market. To cater to the heightened demand more numbers of new launches will come into the Noida market. There are various spellbinding construction & infrastructure projects that will further add to the momentum.