Why should you invest in Noida?

New Okhla Industrial Development Authority or commonly known as Noida today is a city that is managed by the NOIDA (New Okhla Industrial Development Authority). The city is forms an essential part of the NCR (National Capital Region) and was set up as an urbanisation thrust in between 1975 and 1977 (during the Emergency period). Calculating the highest per capita income in the whole of NCR region, Noida was formed under the UP Industrial Area Development Act. 

Situated in the Gautam Buddh Nagar district of Uttar Pradesh, Noida’s is 20 km on the southeast side of New Delhi. While on the west and south-west is the Yamuna River, the north and north-west side of Noida is surrounded by Delhi. Known for its planned infrastructure, most sectors of Noida have excellent connectivity to other parts of the region via road and metro. The city is currently undergoing a major realty boom where industrial plots have now paved way to a number of apartments in Noida. The demand for property in sectors where upcoming metro stations are expected is steadily increasing. Per square feet rate on an average from Rs 3,700 have increased to over 4,500 just after the introduction of the proposed metro project. Sectors like 74,75, 100 and 137 have witness a major realty boom.

Apart from these sectors close proximity to developed localites, another factor that is helping the realty scene flourish here is Noida’s infrastructure. When compared to other regions of NCR, Noida stands at the 17the place in terms of cleanliness. Similarly, Noida has seen a rapid physical development than its neighbouring cities like Faridabad and Gurgaon. Because of its rapid development, many major players are now entering the economy, multinational companies and outsourcing companies are dominating the commercial market. Apart from MNC’s, power and energy utility companies too have their offices here. While the city has developed into becoming a major IT and industrial hub- Noida attracts migrants from across the country. And to cater to their housing demands, both local and national real estate developers are creating a number residential projects. IT professionals are now keen on residing here and are investing in 3 BHK flats in Noida. 

Tapping into the sudden influx of housing demand, investors are now shying away from investing in homes in Noida. With the properties here being capable of generating formidable rental returns, investors are now purchasing apartments only to let them out on rent later. According to recent reports sectors 74,75 and 100 are dominated by white-collared professionals and flat owners to rent out their homes are estimated to earn over 10 lakhs in two years. Flats for sale in Greater Noida especially in these sectors can generate a handsome rental of Rs 11 to 19 per square feet depending if the homes are semi or fully-furnished. 

Although great connectivity and rapid development in infrastructure projects are flourishing the real estate sector of Noida, investing in apartments in Noida needs a bit of an effort. Most residential projects along the 10 km radius from the Okhla bird sanctuary will not receive a completion certificate as the area is marked as an eco-sensitive zone. However builders are now challenging the NGT (National Green Tribunal) ruling hoping to have a decision that will support the investors sentiments.