Looking For An Affordable Home In Noida? Try These Areas
The growing popularity of property in -NCR as a residential choice has led to a high demand for affordable residential options in the region. In order to cater to this rush, Delhi and the national capital region (NCR) including Noida, Gurgaon, Ghaziabad, and Faridabad, have seen rapid real estate development, supported by the development of infrastructure and civic amenities over the past two decades. While there is limited scope for new residential projects in Delhi, its neighbouring areas have turned into the alternate realty hotspots, as even people make a beeline to these areas to buy residential property.
In this rush for grabbing prime real estate, while Gurgaon has emerged as the real estate destination for high-end buyers, Noida, on the other hand, has opened its doors to home buyers of varied income groups, with special attention to the middle-income group with its affordable residential options.
Yamuna Expressway
This area gained traction with the opening of the Buddh International Circuit a few years back. And now, the area is buzzing with real estate development. The infrastructure of the expressway provides rapid commuting to and fro from the city, which is why the corridor along Yamuna Expressway has seen developers launching commercial, residential, hospitality and retail projects. Some of the strategic geographic advantages of the corridor include proximity to - Industrial Corridor (DMIC) Project, well-constructed roads connecting to Delhi and other parts of the NCR, as well as Metro Rail connectivity, which will soon extend to Greater Noida and Noida Extension.
Apartments at Yamuna Expressway corridor attract real estate investors as the average price of property here, according to PropTiger.com, is as low as Rs 3, 150 per sq ft, due to the current oversupply of plots in Noida. Moreover, with projects across categories being developed, making the region self-sufficient, it is expected that the properties will witness good value appreciation in the coming years.
West
Spread over 8,980 acres of land, Greater Noida is located at a distance of about five kilometers from Sector 121, Noida. According to the experts, the future of real estate in Greater Noida is promising, which is reflected in the appreciation of prices of properties buyers have already invested in. Perhaps, the most significant advantage of investing in under-construction projects in Greater Noida is, that the area is well-connected to Noida as well as Delhi, which means it will always have takers among professionals working in Noida and Delhi, looking for affordable residential options with a slew of value added services and facilities.
The infrastructure development authorities of Greater Noida have been taking swift actions in providing wider roads, better infrastructure and improving upon the healthcare and education facilities as well as boosting the commercial sector in the area. With the possibility of extending the existing Metro Rail line up to West, land prices here have been picking up fast.
There are more than 75 developers in this area, offering residential options including 1-3BHK apartments, villas and even builder floors at prices that fit your budget. The area is being developed to support a population of 10 lakh or more by providing an estimated 2.5 lakh built-up residential properties over the next few years. A home buyer has to shell out Rs 2,600 – Rs 3,500 per sq ft for a 2-3BHK apartment in West.
Noida is fast emerging as one of the prime locations in the NCR, with developments across all real estate sectors. Moreover, with the industrial and commercial boom in the neighbouring areas, your real estate investment is bound to give good returns in the coming few years.