What is attracting home buyers to Greater Noida?

The future holds a lot of potential for home buyers who are seeking to live or invest in residential real estate around Greater Noida. The area is emerging to be one of the most preferred places for buyers with well-planned infrastructure, upcoming projects and lower prices in view of the Covid pandemic. As per an article of home capital, “the reduced home loan interest rates and lower prices of property also enhanced the Delhi-NCR’s affordability index to 38% in 2020 from 64% in 2011”. Given the amount of scope present in the residential market of Greater Noida, what factors are deriving the demand in the area?

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• Better Connectivity – Over the past years, Greater Noida has grown into a very well-connected area as metro was launched. Strategically located national highways has improved the travel time tremendously for citizens.

• Residential Project Launches – A whopping 33% new residential project launches were done in the Greater Noida and Noida area making it the ideal place to invest in a property.

• Construction of Airport – The close proximity to the under construction Jewar Airport gives huge boost to the residential market and provides a positive impact on the buyer sentiments.

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• Development of Film City – In order to attract investment from all sources including home buyers, the government has launched the Greater Noida Film City project to enhance the value proposition of the whole area.

• Affordability – Greater Noida is probably known for affordable housing segment which is why the present and future investment scenario looks extremely promising and holds the key to the residential real estate market.

• Corporate hubs and SEZs – The whole area is surrounded by corporate companies and special economic zones which boosts the employment opportunities and results preferred destination for home buyers.

• Presence of Social Infrastructure–This helps in influencing the overall decision of a home buyer as the quality of social infrastructure in terms of educational institutes, medical facilities and shopping centres has direct relation with the quality of life.

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Is this the best time to invest in Greater Noida?

In the near term, rates may see a dip by 5-10% making Greater Noida a good deal for end users to buy a property. Due to several job losses and pay cuts, many existing buyers are moving out of Greater Noida which opens the door for new buyers to cash in on it. Moreover, buyer sentiments are moving in the right direction due to presence of schools, colleges, entertainment zones, hospitals, standard of living and more.

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It is being said that this pandemic is a blessing in disguise for the residential real estate market in Greater Noida. Keeping in mind the long run, an investment would be very rewarding 8-9 years down the line. More project launches will certainly help in development of the whole area which will increase more attraction from home buyers. Also, increase in population will allow the market to cater to a greater number of buyers.

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Founder and CEO of InvestoXpert Advisors Pvt. Ltd., Vishal Raheja, also believes that “Greater Noida region holds a huge potential for growth and transforming into a big residential real estate market. With so many project launches lined up and options with ready-to-move projects make it a prospective market for both buyers and investors. Indeed, get ready to witness other big things in the coming years and beyond”

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