The future holds many opportunities for homebuyers who want to stay or invest in residential areas in Noida. This area seems to be one of the most popular areas for consumers with well-planned infrastructure, upcoming projects and low prices in view of the Covid epidemic.
According to the capital article, “reductions in mortgage rates and lower real estate prices have also improved the Delhi-NCR sales index to 38% by 2020 from 64% in 2011”. Given the range of scope available in the Noida residential market, what are the local requirements?
Better Communication – Over the years, Noida has grown to become a very connected area with the introduction of the highway. The national highways have cleverly improved the travel time of the citizens.
Residential Project Implementation – A high 33% presentation of the residential project like ATS Kinghood Drive was made in the Noida area which makes it an ideal investment destination for the building.
Airport Construction – The proximity of the building under the Jear airport provides a major boost to the housing market and has a positive impact on consumer perceptions.
Film City Development – To attract investment to all sources, including local consumers, the government has launched the Noida Film City project to increase the global value proposition.
Interventions – Noida is probably best known for its affordable housing segment which is why the current and future investment climate seems extremely promising and holds the key to the housing market.
Corporate and SEZ Centers – The whole area is surrounded by special corporate and economic areas that promote job opportunities and outcomes where local buyers are selected.
Availability of Public Infrastructure – This helps to influence consumer decisions as to the quality of social infrastructure in terms of educational institutions, medical centres and supermarkets are directly related to the quality of life.
Project Delays in Consumer Feedback on Noida
However, Noida has been in the news for a delay in the delivery of units, by some of the most popular developers in the Indian real estate community. Rao points out that “The market has taken a lot of beating, especially in the case of a large number of projects underway. This, combined with overcrowding, has led to a slowdown in the market. ”
Is This The Best Time to Invest in Noida?
In the near future, prices could see a 5-10% dip making Noida a good deal for local buyers. As a result of several job losses and wage cuts, many current consumers are moving out of Noida, opening new entrants to new customers. In addition, consumer sentiment is well-received due to the presence of schools, colleges, leisure centres, hospitals, quality of life and more.
The epidemic is said to be a hidden blessing in the Noida housing market. Keeping in mind over time, investing will be very rewarding in 8 to 9 years. The launch of more projects will contribute to global development that will increase the attractiveness of more rural consumers. Also, population growth will allow the market to cater to a larger number of consumers.
“Noida is a well-organized UP town as well as Chandigarh. The disease has been a blessing in disguise. Most of it has end users but the work from the local culture is forcing people to move to larger affordable homes compared to those found in Gurugram, Ghaziabad and Noida. Upcoming commercial projects such as five-star hotels, Mahagun Marina Walk and various hospitals and hotels make the city a great place to stay, ”said Mohammed Aslam, President, ANAROCK Capital Advisors.
However, experts warn that there will be no real estate valuation in the next 7-8 years and from an investment perspective, it is not a good idea as returns will be low. But with the release of Jewar Airport, Film City and other major projects, the cost of construction will increase over time. The government’s plan to adopt the Noida & Greater Noida Municipality’s metro expansion plan is expected to come into effect in 2022, and they play a major role in quickly seeking housing.
According to Sudhanshu Rai, Director, Ocean Infraheights Pvt Ltd, the growth of commercial properties is similar to the rapid increase in housing development and currently Noida is in the middle of this. “In the last three years alone, Noida has seen an increase of 3 lakhs and in the next five years, we can expect the population to increase by 10 lakhs. The best part is that the district comes with a lot of willing workers – a large part of this figure includes a small pool of job seekers, which is good for construction as it provides “decent” work for companies looking for space, ”Rai said.
5xprop.com, also believes that the “Noida region has the potential to grow and be transformed into a major housing market. The launch of a number of listed projects and options with ready-to-deliver projects like SKA Orion, ACE Starlit, Eldeco Live by the Greens make it an unimaginable market for consumers and investors. Indeed, be prepared to give a thorough witness in the years to come and in the future”
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