The Greater Noida
(West)-popularly known as Noida Extension- is one of the well-planned cities
not only in India but in the whole of Asia. There is an estimated figure that
about more than 20 lakh people would be dependent upon this region, once it
develops entirely. This area has been planned in such a way that even after 100
years, development can be done. But development is limited. You cannot do it
like any way you want. So, the entire area is pre-planned, and there is no
issue related to infrastructure.
After the recent legal
developments, there is a positive impact on Greater Noida (West) region. The
Hon'ble Supreme Court has taken care of all stakeholders such as farmers,
middle class home buyers and the financial institutions. All uncertainties have
been cleared now and projects are moving faster as financial institutions are
wary of funding the projects.
Despite various hurdles and
issues, developers have always concentrated on speedy construction of projects
in Greater Noida (West) so that the buyers would not suffer further. The Greater
Noida Authority has started giving additional compensation and developed land
to the eligible farmers as per the Supreme Court's verdict. All these
developments have brought cheer to home buyers in Greater Noida (West) and pave
the way for grant of possession of homes at the earliest.
The major developers are
about to start giving possession to the buyers in various phases in all major
projects. Hopefully, by the end of this year and mid of next year, buyers will
start residing there. This area is known as a mix of affordable, premium,
high-rise apartments and independent luxurious villas. Road and metro
connectivity, besides amenities such as commercial spaces, schools, colleges,
offices, IT park, MNCs, renowned hotels, hospitals, police station, taxi stand,
indoor & outdoor sports, clubs etc make this region attractive for buyers.
The future holds great promise
both for individual buyers who want a house to live in and investors. Moving
away from controversies, authorities are swiftly laying down the necessary
infrastructure - water, roads and electricity. Green belt has been
set aside for peaceful and healthy living and connectivity is going to be
smoother.
In the coming years, this will
further see a multiplier effect as this area is set to witness great
infrastructure boom like metro, multi-level transport system and other
connectivity corridors in the near future. The future of the area is bright
in terms of price appreciation and connectivity. This is a future city where
everything is very well planned and it nestles between green belt beauty and
basic amenities with world class facilities.
As there are multiple rates, the
projects, even though located strategically, are priced between Rs and 2630 and
3800/sq ft depending on the amenities in various projects. Also, amongst all
the emerging markets being compared, Greater Noida (West) is the most promising
in terms of existing infrastructure as well as the upcoming metro connectivity.
Greater Noida (West) is still an
affordable hub for middle-class buyers compared to other destinations. It is a known fact that Greater
Noida (West) has been witnessing more than 100% appreciation despite all the
hurdles it has faced since it started taking shape a few years ago. The reason
for its resilience is its excellent location (proximity to Noida, Delhi,
Ghaziabad, and Faridabad etc.) and connectivity, futuristic and well planned
infrastructure and a value for money proposition.
