While real estate in Noida faced price corrections last year due to the election, this year has been fruitful to the city in term of increasing real estate prices. Locations such as Satellite, SG Highway, Gota and South Bhopal faced such price corrections last year. But bow with rapid development in economy and infrastructure has made the real estate in Noida robust. Buy Apartment in Godrej Woods and Apartment in Godrej Nurture where has 2 luxury flats apartments.
There are several reasons that act as catalyst in making Noida a real estate destination for a majority of population in the state. Its perfect demographic location, social and physical infrastructure, and affordable prices are some of the major driving forces of real estate in Noida.
The recent approval for the new Noida Metro Rail Project Phase-1 will surely impact the real estate of Noida to a greater extent. The metro phase 1 stretch covers two corridors - the North-South corridor starting from APMC, Vasna to Motera Stadium followed by the East-West corridor starting from Thaltej Gam to Vastral Gam. This ease of connectivity between various locations of the city will surely lure buyers and investors into real estate in these areas. This metro rail project connects Noida with Gandhinagar, which is now a hotspot of IT and electronic industry. There is also another vital factor to makes Noida a blooming realty destination. This city is a part of the DMIC (Delhi Noida Industrial Corridor) and attracts a myriad of companies and industries. When this city grows as an industrial corridor in future, it will ultimately have so many opportunities open for people thereby increasing the floating populace and professional populace who will turn into potential home buyers of the city.
It is not just becoming the home to several new residential projects, but also shown incredible growth in the commercial properties in Noida. The capital values for commercial properties have taken a leap forward by 2o to 30% in different localities of Noida including Prahladnagar, S.G. Highway, Ashram Road and some parts of East Noida. The city has witnessed commercial construction in 3.5 million square feet area in past four years and 1.1 million square feet area is under construction. When such a huge development occurs on commercial front, then surely it will attract major investors to start construction of residential properties with 2 or 3 BHK apartments in Noida surrounding this commercially developed area.
When you consider residential properties in Noida, 16 million square feet area is already built, 23 million square feet area is under construction and you can expect apartments and houses in another 30 million square feet area in in the future across the city. The area that are realty hotspots in Noida, Greater Noida, Yamuna Expressway and Noida Extension. To sum it up IT and industrial corridors and upcoming metro routes are the main driving force to take real estate in Noida to the next level.
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