This is why Greater Noida is outshining its neighbors
Greater Noida offers under-construction and ready to move in properties, the property buyer should know how unsold inventory will influence future price appreciation.
With the decrease in the real estate market in terms of poor sales, numerous unsold inventories, Greater Noida is set to shine in the National Capital Regions. The affordability and availability of options make Greater Noida a promising destination for property buyers. It is much closer to Noida and East Delhi which is primarily divided into two regions namely Noida along with the inside sectors of its neighbors Dadri and Ghaziabad.
What makes Greater Noida a favored market?
Greater Noida has offered numerous property options as it boasts a number of establishing and upcoming sectors. There is an availability of ready to move in properties along with different configurations in the whole region of Greater Noida-Noida Expressway. Away from Pari Chowk, the city is sub- divided into residential and commercial sectors, such as Chi-Phi, Sigma, Mu, RHO, Omega, Zeta, Alpha, Beta, Gamma, and Delta. Yamuna Expressway and Greater Noida West are also included latter it is popularly known as Noida Extension.
Meanwhile, some other regions are fully-established and various other projects are upcoming and under-construction in Greater Noida. At Noida Extension, around 3 lac under-construction properties and numerous renowned developers are also witnessing a number of projects.
Properties in Greater Noida are available in the range of Rs. 2,800–4,500 per sq.ft., and it has established sectors which have properties at the higher range. Some of the new sectors in Greater Noida West have apartments in the range of Rs 2,900–3,200 per sq.ft. Despite this, it has observed that both investors and buyers are often willing to pay for ready to move in instead of under-constructions projects.
In Greater Noida, 2BHK apartments are available in every sector which is costing around Rs. 40–60 lac though it’s price also depend on the locality of the property. Furthermore, there are always large cash components in deals which are ranging from 20 t0 30 percent. The property rates in Yamuna Expressway are ranging between 2,800–3,200 per sq.ft. However, the property rates in Greater Noida are less than those in Gurgaon, Delhi and Noida.
Some corrections have been seen in the Greater Noida’s resale market where it owns the large inventory of unsold units. As compared to Greater Noida‘s primary segment there has not been much movement in the property rates.
Greater Noida has various advantages despite all these challenges. The city is well-connected to numerous locations such as Noida-Greater Noida Expressway, and Noida. There are numerous sectors which connect to other regions such as Ghaziabad and Dadri. On the other side, Yamuna Expressway provides easy connectivity towards cities like Agra and Mathura. The proposed expansion of metro stations is directly connected to Greater Noida and other regions. Under the Delhi-Mumbai Industrial Corridor, the city has also boasted an integrated industrial township projects. Furthermore, the surrounding of Greater Noida has all the necessary social amenities such as schools, hospitals, colleges and supermarkets. Thus, Greater Noida is a favorable location for buyers and investors. However, they should invest more in the established sectors as there are numerous properties available at small premiums.