With the stock market in India refusing to let go off it's off its bullish stance, Indian real estate markets are setting new trends as property prices soar, most particularly, in New Delhi. But, to everyone's surprise, it is neighbouring Noida that has taken centre stage as the most sought after residential destination in NCR. Attracting attention, in large part due to a well-defined master plan and an excellent infrastructure, a reputed real estate company says Noida has seen a 30 50% increase in property prices compared to the same time last year.
With a 4-way connectivity to Delhi via DND flyway, Ghazipur, Nizamuddin and Sarita Vihar through ITO, Noida tops the popularity polls, ahead of other NCR areas i.e. Faridabad, Ghaziabad and Gurgaon. It is the upwardly mobile, double-income families who are evincing a keen interest in Noida's Sector 93-A located as it is a mere 7-km. from Amity Business School and 8-km from the DND Flyway. As a result, you can look at paying anywhere from Rs. 40-50-lakhs or Rs. 60-80-lakhs for a 3 or 4-bedroom apartment in this area. With a capital value that has shot up from last year's Rs. 2,000 per sq. ft. to Rs. 3,000 per sq. ft., all flats in this area are fully booked according to builders like Supertech, ASSOTECH, Eldeco, Parvasnath, ATS who have a high profile presence in Sector 93-A.
Easy connectivity to Delhi via the Expressway is the prime factor that permits Sector 93-A to command higher prices than other sectors of the Noida Township. Extensive developments along the Noida and Greater Noida Expressway, major software companies like Wipro, Infosys and HCL buying land to build their development centres in the region, a number of health parks coming up along the Expressway will further appreciate the value of the area in the near future.
Aware of the area's immense potential, builders are busy constructing high-end apartments on auctioned land bought for Rs. 22,000 per sq. metre. They are gung-ho, confirming the value of real estate in this area will only appreciate allowing a recouping of expenses and the making immense profits. With the Metro slated to connect Delhi and Noida by 2010, real estate costs in this area will only rocket through the roof.
Four shopping malls, a proposed International Airport and Stadium, Noida is cock of the walk! |
