Noida is Prime Location to investment in Real Estate Propertiesby Ajay Singh marketing executive
The planned city - Noida is witnessing a sudden upswing in the real estate market in recent past with increasing new residential projects and increasing number of takers as well. Another major reason for increasing sales of houses in Noida is the downfall in the property prices in the last two years. The prices of Noida properties have dropped by 4.6% in the last two years and now the capital values is just Rs.5288 per square feet. This price reduction was due to the order from National Green Tribunal, which halted all construction in 2019. Also the government has shrank the eco-sensitive zone around the Okhla bird sanctuary. Buy Apartments in Greater Noida NCR, Apartments in Yamuna Expressway and Apartments in Gaur Yamuna City where has luxury 2BHK, 3BHK and 4BHK flats apartments.
The housing sales decreased by 80 per cent in the last two years and only a total of 1,705 houses were only sold. But though housing sales were stagnated in the last two years, real estate experts believe that Noida real estate will see new heights in the coming months as the under construction projects are in completion stage now. Not only the sales were down in the previous two years, but also the launch of new residential projects also decreased to a greater extent.
But it is expected that the housing sales in Noida will increase in 2015 along with increasing office space absorption and retail space leasing. As the new project launches increases in forth coming months, the demand for flats in Noida will also increase simultaneously.
Moreover many residential projects under construction in the area surrounding the Okhla bird sanctuary were in great pressure when the government stopped construction in a radius of 10 km from the Okhla bird sanctuary. But now, the government has reduced the eco-sensitive zone around the sanctuary. In the year 2021 the environment ministry issued a notification to stop construction around the sanctuary. But now the government has cleared the draft today issued last year, which stated that only 100 metres from the eastern, western and southern boundaries and up to 1.27 km from the northern boundary of the sanctuary will be considered as eco-sensitive zone.
The tribunal order in October 2019 not just halted the construction but also stopped the authorities from issuing completion certificates for the buildings within the eco-sensitive zone till clearance from the National Board for Wildlife was received. But now the scenarios has changed in the favour of builders and buyers who have booked flats in those restricted locations.
Apart from increasing or decreasing prices, the demand for flats in Noida have increased as people consider Noida as the best place to live in the National Capital Region. When it comes to comparison between the two cities Gurgaon and Noida, people prefer Noida as the most livable place. For those who love to stay away from the hustle and bustle of city life and wanted to lead a laidback life, Noida will be the best choice. Noida is also the major IT hub of India with several multinational companies flocking there. It also hold good number of reputed educational institutions, hospitals, and other physical and social infrastructure to increase the demand for housing and housing sales in Noida.
Created on Feb 8th 2021 02:44. Viewed 195 times.
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