ICCPL PROPERTY NEWS

NOIDA STILL A PREFERENCE FOR CUSTOMERS IN NCR FOR HOUSING

After the recent successful execution of DDA and HUDA housing schemes, the housing sector in India has received a much needed demand boost. This year, DDA received a record breaking number of applications which goes to show the demand for housing. But still, it could not fulfil the dreams of lakhs of applicants who were in search of their dream homes which would have been even the very first house for many. Although these schemes have created a ripple effect of demand, that is going beyond Delhi and Haryana and has started to reach regions like Noida and Greater Noida. Delhi and developed regions of Haryana such as Gurgaon have become out of reach for most home seekers due to budget constraints. This reason has pushed the demand for housing to spread out and reach to other developed and better affordable regions of NCR such as Noida. Mr. Ashok Gupta, CMD, Ajnara India Ltd. says “This outcome was pretty much anticipated by the developers in regions other than Delhi and Gurgaon. Every person who has made up their mind to buy a property will first prepare the budget and then finally invest. Interested customers who missed out on the DDA scheme are giving the next preference to HUDA, but have an open mind to invest in other regions as well if they miss out again. Therefore, the demand is basically been carried forward to destinations like Noida and Greater Noida where infrastructure is sound and deals are much competitive that can satisfy pockets of many”. Ajnara India Ltd. has an experience of over two decades in real estate sector and has been constructing projects to satisfy the existing demand. Ajnara has also introduced several projects in Noida that falls in the price bracket of 40 – 65 lakhs which is suited to most mid segment buyers.

Noida has always been considered as one of the most prominent market for real estate investment in NCR. There are several advantages that one can get by investing in this region. Starting from a great infrastructure, presence of MNCs, brilliant location and connectivity, very good return and appreciation and many other advantages that Noida provides is unbeatable. It has got three entry/exit options from Delhi; DND, Mayur Vihar side and finally NH 24. This acts as a boost and an attraction for the investors coming from Delhi and nearby areas. After the development of initial sectors of Noida, sectors starting from NH 24 and projects on Noida expressway are the current hit. Therefore, a resident of Noida will never feel being separated from Delhi. Noida today still has options for people to get homes at competitive prices that are lesser than that of Delhi and Gurgaon. Mr. Deepak Kapoor, Director, Gulshan Homz says “The best part of having a residence at Noida Expressway is the location advantage it offers and the developments around it. It is like having a residence in between Noida and Delhi, so both the places become close. Noida Expressway has it all; brilliant location, stunning infrastructure, schools, colleges, hospitals and etc. Also, this region is already known for its commercial and infrastructural development, so it will again offer everything that a resident would require in a close proximity”. Gulshan Homz has two residential projects in the region ‘Vivante’ and ‘Ikebana’ that has witnessed a remarkable appreciation in prices over the last few years. The projects were launched at seemingly competitive prices and have appreciated very well because of the development in the region.

Mr. Sushant Muttreja, CMD, Cosmic Group says “Noida has been divided into several clusters today with a lot of demand for housing especially in the emerging districts within Noida such as Noida Expressway and sectors spread around mid – late 70s and 80s. There are several housing projects and societies being developed in those regions that have been satisfying the demand for housing. The infrastructure is pretty sound with a proposal of metro line as well. The impact that DDA and HUDA schemes have put on the real estate sector is immense; with several buyers now gearing up to invest in property in these regions. The prices here are still very good for an average and above average buyer along with decent civic amenities to lead a good standard lifestyle”.

Mr. Rupesh Gupta, Director, JM Housing says “The neighbouring cities of Delhi such as Gurgaon, Noida and Ghaziabad have always been considered the next best option for customers interested in a property at Delhi. But the only problem has been that Delhi and Gurgaon are too expensive now with Ghaziabad ranking below Noida when it comes to infrastructure and civic amenities. Therefore, now people are opting for Noida as the place for residence, as Noida provides better infrastructure than most NCR cities along with better prices than regions like Gurgaon”. JM Housing has one residential project delivered in Noida ‘JM Orchid’ located at Sector 76 and one ongoing, ‘JM Aroma’ located at Sector 75.

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