Is Noida a self-sustainable city?
Infrastructure projects such as the Metro Rail, Yamuna Expressway and DND Flyway have set momentum for the real estate development in Noida. But is the city self-sustainable or dependent on New Delhi?
According to Aman Agarwal, director, KV Developers, “Noida and Greater Noida are offering good connectivity to Delhi, Faridabad and Ghaziabad. In addition to this, Greater Noida is offering affordable housing with collective sustainable development and a proposed metro connectivity. With Formula 1 track, proposed night safari, international cricket stadium, education hub with a number of universities & institutions, this area is likely to witness exponential growth.” All these factors make this area self-sustainable, he adds.
Pradeep Jain, chairman, Parsvnath Group, says, “Noida and Ghaziabad property markets offer good quality homes, retail and office spaces at affordable rates. While properties in these two markets are no less than those in Gurgaon in terms of amenities and connectivity, but when the property prices are compared, Noida and Ghaziabad win against the Millennium City.”
“Noida is a combination of good master plan and splendid infrastructure. Due to cheaper propertyvalues, there is a huge demand and several new projects are being setup. Recent increment in the Floor Area Ratio (FAR) allows construction of more flats in the same area. Greater Noida Expressway and Yamuna Expressway offer scope for strong and sustained growth for all real estate segments,” says Abhay Kumar, chairman and managing director, Griha Pravesh Buildteck.
“Inclusion of mixed land use concept in the master plan changes the game in the realty space altogether. This policy will promote a self-sustainable model that will allow users to reside and work in the same vicinity. Furthermore, the extension of the metro line to Greater Noida will prove to be a boon to the real estate sector,” Kumar adds.
In terms of returns on investment, Suneet Pratap Singh, head-primary sales, Finlace Consulting, says, “If we look at the property trends of the Noida market in the 3-4 years, we will realize that the growth was 75-90 per cent and even more in specific areas.”
Posted on October 15, 2013, in Real Estate and tagged 2 and 3 BHK Flats in Greater Noida, Affordable Houses in Delhi NCR, Sanjay Rastogi, Sanjay Rastogi Builder, Sanjay Rastogi Builders. Bookmark the permalink. Leave a comment.