The property rates in Noida Extension are set to increase by as much as 15 to 20 per cent as the National Capital Region Planning Board (NCRPB) on Friday cleared the draft master plan for Greater Noida- 2021. With this, construction of about 50 projects, comprising 2.5 lakh units, in the region will start in a week. Even though Greater Noida Industrial Development Authority (GNIDA) has instructed builders to take care of existing buyers and not to harass them, many builders have indirectly stated in newspapers that they would hike prices for existing buyers with the excuse that the costs of materials and labour have been increased.
Apartments in Noida Extension are currently priced in the range of Rs 2,700 - 3,500 per square feet. Before the farmers stir began more than a year earlier, prices were in the range of Rs 1,800-2, 000 per square feet. But now that farmers are eligible for higher compensation, builders are bound to raise prices, which will be passed on to customers too. If you compare the flat prices in Chennai, Bangalore, Kolkata and Delhi-NCR towns, forget Mumbai, Noida Extension offers you a real dream home in a Delhi suburb with wide roads, adequate greenery, world-class schools, hospitals, expressways and international standard metro connectivity. Noida Extension projects support central and state government's aim of delivering affordable homes to its rising urban population," said Anil Sharma, chief managing director (CMD) of Amrapali and vice-president of confederation of real estate developers association of India.
The master plan has incorporated things that exist in most Western countries. The revised plan has also made a provision of keeping 16% of the organisable area as a green belt. Development in Greater Noida is better planned than other NCR cities like Gurgaon and Faridabad. The green belt will be conserved by the Authority and it cannot be converted or shifted," said Mohit Arora, Supertech director. Noida is emerging as one of the largest industrial and education hubs of India. Noida is now the common ground for the development of commercial, residential as well as retail units. In fact, the real estate companies in Noida are on full gear to suffice the growing demand for Noida residential property. Noida seems to attract more investors and developers due to its better infrastructure facilities arrangements and also a direct metro connection with Delhi and the Express Highway to Noida will enhance and facilitate easy movements to Noida.
The increasing demand for housing has been well captured by the Noida real estate developers. The city is soon to see various townships, many more commercial headquarters and a lot of infrastructure development. Noida property market has an exceptional demand for residential complexes surrounded with modern amenities like fitness centres, Children Park, Fun Park, medical aid centres, restaurants, community hall and shopping centres. The most preferred areas for residential Property in Noida.
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