Is Noida on Track to Overtake Delhi and Gurgaon as a Real Estate Leader?
Noida is rapidly transforming into a top real estate destination, with its blend of affordability, infrastructure, and connectivity.
The city is attracting attention from homebuyers and investors alike, raising the question: Could Noida surpass Delhi and Gurugram as the premier real estate hub?
Affordability Meets Luxury:
Noida’s real estate market offers a unique blend of affordability and luxury. Compared to Delhi and Gurgaon, property prices in Noida are significantly lower, making it accessible to a larger segment of buyers.
Despite this affordability, the city doesn’t compromise on the quality of living. Developers like Gulshan, Prateek, and Gaurs have contributed to this transformation, launching premium projects priced at over Rs 5 crore.
Their focus on timely delivery and quality construction has elevated Noida's real estate appeal, particularly for luxury seekers.
Infrastructural Advancements:
The city’s growth is closely linked to ongoing infrastructure projects. The development of Jewar Airport is set to revolutionize Noida's status, positioning it as a global business hub.
Alongside this, improved metro connectivity, the Noida-Greater Noida Expressway, and the Yamuna Expressway are making the city more accessible, driving both residential and commercial demand.
These infrastructural improvements have led to a 7% rise in property prices in early 2024 alone.
Commercial and Employment Boom:
Noida is also seeing an influx of multinational companies and IT hubs, driving employment opportunities in the region.
This commercial boom is fueling demand for both office spaces and residential areas, making Noida a desirable destination for working professionals.
The presence of established IT parks and multinational corporations along the Noida-Greater Noida Expressway has further strengthened its position as a commercial and residential hub.
Industry Insights on Noida’s Future:
Leading real estate figures are bullish on Noida’s potential to overtake Delhi and Gurgaon. Manish Jaiswal, Group COO of Eldeco Group, highlights that ongoing infrastructure developments like the RRTS and Jewar Airport will boost the demand for integrated townships and luxury housing.
Similarly, Aman Trehan, Executive Director of Trehan Iris, envisions a future where Noida leads in commercial and residential growth, driven by projects aimed at meeting the demand for modern office spaces and mixed-use developments.
Jewar Airport: A Game Changer:
Jewar Airport is poised to be the defining factor in Noida's rise as a top real estate destination. Set to be one of the largest airports in the region, it will enhance connectivity not just for residents but for international business as well.
The airport's development has already spurred interest in nearby properties, and the real estate market is expected to see continued growth as the project nears completion.
Conclusion:
With its affordability, strategic location, and robust infrastructure, Noida is well-positioned to challenge Delhi and Gurugram as the premier real estate destination in the NCR region.
The ongoing development of Land Near Jewar Airport and other key projects are clear indicators that Noida’s future in real estate looks brighter than ever.
