Residential Developments: The constant influx of entrepreneurs, job-seekers, and home residents in the Noida’s realty projects has brought the city into the limelight of the government thereby making it a strong contender for the NDA’s ‘Smart City’ project. Then, the best features of Noida will be: Green environment, uninterrupted electricity & water supply for the better quality of living Bus Rapid Transit (BRT) corridor for the exceptional mobility, State-of-the-art infrastructure, Already, the development has started picking up. The city will see the new launches of the affordable dwelling of Rs. 1.82 Cr and under as per the ‘Affordable Housing Initiative’ by UP government. The inclusion of the names of realty giants like DLF Developers, Tulip Group, Supertech is bringing these affordable residential projects in the glare of the investors and end-users. Talking of the luxury projects, the Bengaluru-based realty firm, Sobha is planning to launch a group housing project of 1700 flats in Noida by tying up with another Realtor, Chintels India. The estimated worth of this 39-acre project is Rs 1,000 crore and the completion time is next 6-7 years. The rates will be competitive with the current market condition. Gaur World Smartstreet Resale / Paras Avenue Resale / SKA Orion Resale / Commercial property in Noida
Infrastructural Developments: Apart from the Bus Rapid Transit corridor and rapid rails, the most awaited infrastructural development is the Southern Peripheral Road (SPR), which was stalled for long, and has been recently recommenced. The highlights of this 150-meter wide road in New Noida are: Seeing this development, the acclaimed developers such as Tata, Gaursons, and the likes have instigated their finest projects in this setting with approximately 20,000 units under construction. Besides, the other developers like Raheja Developers, Ireo, Parsvanath, and Emmar MGF own the outsizes strips of land in this area. The Sectors 71, 73, 74 and 75 are also earmarked for the commercial and institutional developments. Due to its importance, the SPR has been declared as a national highway, meaning that the NHAI (National Highways Authority of India) will be responsible for its upkeep. Furthermore, the Metro connectivity is planned along this Road in Phase II.
Government’s Contribution: Recognizing the Noida city as the hub of developments be it residential, commercial or industrial, the government is also spelling good news for the real estate investors over here. The interesting things to know are: The initiation of ‘Make in India’ program by the government to ensure the emergence of industries in the area, which will consequently raise the housing demand as well. The ease of ‘Foreign Direct Investment’ in real estate to improve the liquidity thereby granting the legroom to the developers for offering the good deals to their buyers. The deductions in the rate of interests by the RBI to allow the lower home loan rates and thus, increasing the demand. Also, the panel of UP government is likely to offer greater relief to the distressed homebuyer in Noida by penalizing the erring builders who delay the possession by more than 6 months to pay enhanced compensation with interest or refund the money of the aggrieved party. In lieu of all the developments going on in the city including the physical constructions, communal facilities as well as the economic fortification of the developers, investors, and the buyers, the future of Noida is surely bright ahead.
Commercial Project: ATS Bouquet Resale