Noida Extension Vs Greater Noida – Where to Buy?

Where to buy- Noida Extension or Greater Noida? Buyers and investors are keen to know the answer to this question amid endless speculations. While the tussle between these two localities appears to be endless, we bring you an analysis based on the different parameters to decide whether to invest in Noida Extension or to buy a property in Greater Noida

Greater Noida is informally divided into two different localities – Noida Extension and Greater Noida. The area has now become the ideal residential zone for middle-class buyers as it offers well-planned infrastructure and a number of affordable properties developed by leading builders in NCR (National Capital Region).

Also Read: How Investor Friendly Is Greater Noida?

Infrastructure and Real Estate Trends

Noida Extension is a planned residential area with multiple upcoming residential townships, planned shopping arcades and commercial spaces. The area contributes for 41% of the total number of new launches and under-construction projects in the Noida micro market most of which will be ready for possession in 2016. Having an average price of Rs. 3,587 per sq.ft., it is the next most affordable locality after Yamuna Expressway.

Located in Gautam Buddh Nagar district of Uttar Pradesh, Greater Noida is elder brother of Noida extension which is struggling with lack of public transportation services, poor law and order situation and lack of supporting policies.

Property rates in Greater Noida have not appreciated more than 10% in last 4-5 years. As per recent reports, the property demand is very low in Greater Noida and 40% of the units went unsold. But, with upcoming metro connectivity, livability of Greater Noida will improve in coming years.

Also Read: Metro Line To Greater Noida, Property Prices Set To Rise

Connectivity in Greater Noida and Greater Noida West

Noida Extension is positioned very well in terms of road connectivity and offers easy accessibility to three major cities– Ghaziabad, Noida and Greater Noida. It was named Noida extension due to its proximity to Noida. Its name was later changed to Greater Noida (West).

Greater Noida offers smooth connectivity to Delhi, NCR, Agra, Meerut, Mathura and Aligarh via Noida - Greater Noida Expressway and Yamuna expressway but closest locality in Delhi from Greater Noida will be at least 30 kms away

Factors driving demand in the Noida Extension:

Proximity to well-developed sectors of Noida such as 50 and 52 and commercial sectors such as 61, 62 and 63 is the main reason which attracts lots of potential buyers to invest in Noida Extension.

Noida Extension has shown a capital appreciation of around 30% during the last two years (Q2 2014 over Q2 2012) and rates are expected to increase in future with completion of projects as well as development of proposed Metro route linking Noida Extension to Noida City Centre Metro.

Factors driving demand in Greater Noida:

MoU for new metro route to connect Greater Noida with Noida has been signed between Noida Authority and DMRC. It will start from Noida City Centre and will pass through sector 50, 51, 78, 101, 81, Dadri Road, 83, 85, 137, 142, 143, 144, 147, 153 and sector 149 in Noida and will enter Greater Noida through Knowledge Park-II and traverse Pari Chowk, Sector-Alpha 1 and 2, before terminating at Depot Station proposed near Knowledge Park-IV in Greater Noida. This route will run along the Noida-Greater Noida Expressway and end at Bodaki.

The proposed metro line will acts as a catalyst for the residential demand in the area. Several IT conglomerates are eyeing Noida-Greater Noida Expressway and Greater Noida for setting up their offices. However, to gain maximum benefits, buyers must have a long-term investment horizon.

So which area is good to buy?

Noida Extension	Greater Noida
The area contributes 41% of the total new launch and 40% of new homes sales in Noida	Property demand is low and 40% of the projects went unsold
Closer to Noida, Delhi and Ghaziabad	Closest area of Delhi will be at least 30 kms away
Noida Extension metro is still in the pipeline	MoU for new Metro route is signed and work will start in new year 2015
Capital appreciation of around 30% during the last two years (Q2 2014 over Q2 2012)	<10% price appreciation in past 4 – 5 years, though with proposed infrastructural development, property rates are expected to increase in future
Next most affordable locality after Yamuna Expressway	Real estate market is expected to remain low for the next 5-6 years

Noida Extension Vs Greater Noida

If you are planning to go for a short term investment, say for about 2-3 years, then Noida Extension is the best option for you. This is the best time to invest here as property rates are reasonable in comparison to other parts of NCR.

Many new projects are being launched in Greater Noida but buyers are not keen to invest due to lack of infrastructure and poor transport facility. Since the market is expected to remain low for the next 5-6 years, you should be careful while investing here.

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