Greater Noida brimming with investment opportunities for Real Estate investors and buyers
Greater Noida has recently become a magnet for investors seeking long-term investment opportunities. The city has become a top destination for real estate developers and investors because of its excellent connectivity and upcoming infrastructure projects.
Here are a few factors shaping investors’ and buyers’ interest in this market:
Proactive government initiatives
The UP government intends to promote Noida-Greater Noida as a future commercial hub and is taking every possible measure to develop the twin city as metro centers with a high-quality urban setting. Moreover, the Make in India initiative makes Greater Noida a region with limitless potential as under this initiative the UP government has rapidly expanded mobile manufacturing in the Noida and Greater Noida areas. This has not only generated employment opportunities but has also contributed to attracting the attention of investors and industrialists in the region. Besides, the proposed 400-cr Toy Park in Jewar will also contribute to boosting the prospects in the region. Furthermore, the proposed Leather Park, a Medical Device Park, a 10,000 cr Film City, and an Electronic Park. All of these are likely to bring an economic multiplier effect to the region subsequently dragging the interests of HNIs and UHNIs.
These developments augur well for Noida-Greater Noida’s real estate market hence pushing it to be one of the best investment destinations.
A surge in social infrastructure development
Greater Noida’s recent infrastructure development has opened up lucrative business opportunities. The proposed mega-infra developments like Noida International Airport at Jewar, a multi-modal logistics, and transport hub for Noida and Greater Noida, extend the metro link between Noida and Greater Noida, and last-mile connectivity to Aqua Line stations with feeder bus services are likely to boost the investment potential of the city. Greater Noida has been witnessing great tractions making it a hot topic among the investors’ community.
Noida and Greater Noida are within a short distance of the Buddh International Formula 1 Circuit, Mahamaya Flyover, DND, Jewar airport, and the Yamuna Expressway. In addition, these locations are close to prominent MNCs and are accessible via five expressways.
Additionally, Greater Noida West is also emerging as a residential and commercial real estate hub with the building of the Greater Noida West Metro Project. In the next 3-4 years, the region will probably have 5 lakh apartments and 12 lakhs, residents.
A commercial-retail hotspot
Several luxury brands and investors are seeking to establish their presence in Greater Noida’s Grade A commercial-retail spaces. It brings the city’s high-end, organized retail sector into the spotlight. As a city brimming with opportunities, Greater Noida has become one of the top choices of renowned global brands seeking to expand their retail footprints. Developers of shopping centers and retailers in Greater Noida are actively investing in and endeavoring to enhance customer satisfaction by making shopping a relaxing activity for residents in and around the area. Several retail complexes and high-end shopping malls featuring leisure activities are currently being built in the city, attracting new-age homebuyers who want ample recreational opportunities.
Besides, high-end ready-to-move office spaces are also coming up, considering the locality’s potential. Noida- Greater Noida is emerging as a data center hub, attracting world-class companies to store their data here. An investment of over 22000 crores has been proposed for the establishment of data centers in Noida. This is likely to push the demand for Grade A office space as well in the city.
Multiple housing options across budgets
Jobseekers and investors are flocking to Greater Noida because of the abundance of economic opportunities, which in turn is boosting the city’s residential property market. Also, since people prefer investing in a residence near their workplaces, expressways, and commercial establishments, Greater Noida is well suited to meet such expectations. With 25% of Greater Noida covered by greenery, it offers a wide range of mid and high-end housing options for every budget. Furthermore, Greater Noida was once thought to be a real estate destination only for middle-class home buyers, but at present, the housing market in Noida-Greater Noida offers housing options from affordable to premium to luxury segment buyers. This makes it an ideal residential destination, especially for new-age homebuyers looking for varied options to choose their dream home.
A recent joint report by CREDAI, Colliers India, and Liases Foras revealed that Delhi-NCR residential property prices increased by the highest annual rate of 14% between July to September 2022 at an average of Rs 7741 per sq. ft. This is generating a good amount of real estate demand across the region. Greater Noida is also benefiting from this healthy demand in the housing segment, which is likely to benefit the region’s retail market as well.
Several government initiatives have contributed to the development of Greater Noida. In addition to the Government, investors and developers have worked hard to provide Greater Noida with a wealth of real estate investment opportunities. The combined efforts of all stakeholders will catapult Greater Noida’s real estate sector to new heights of prosperity over the next few years, dwarfing other thriving real estate sectors in the NCR region.
Views expressed above are the author’s own.