subject: Real Estate In Greater Noida Seen To Be Burgeoning At Its Highest Rate [print this page] In the past couple of years, the city Greater Noida has witnessed tremendous growth in terms of commercial sector. Due to the advancement in number of sections, the real estate developer has seen to be highly benefitted with the launch in the commercial segment from both local as well as prominent developer. Saurabh Malhotra, a city based realtor at Vardhman Properties stated that Greater Noida has been seen to have unprecedented growth in both the commercial and residential sector.
Due to the availability of large commercial plots at an affordable values have resulted in the growth of commercial properties in Greater Noida. In the past 2-3 years, the capital values of commercial property have almost been doubled and hence are still seen to be appreciating. Certain report suggests that the demand for the luxury commercial offices and showroom is seen to be increasing and in order to meet this demand, number of developers have successfully launched five star commercial spaces in the sub city. Anurag Sharma of Global Properties confirms that these new commercial spaces are fully equipped with all premium features and are being targeted by multinational and international players.
The real estate in Greater Noida are seen to have high impact due to the launch of Yamuna Expressway and clearance of Noida Extension Projects. According to sharma, who stated that the property values of both residential and commercial segments has been increased by an average of 12-15%. There are number of eminent developers who are known to launch enormous properties in Greater Noida. One of the developer, Omaxe Limited has successfully launched its upcoming projects Omaxe Connaught Place in Greater Noida, which is known to be the Asias biggest commercial business centre. Other real estate properties in Greater Noida are Knowledge Park, Ecotech Cosmic Corporate Park etc. All these projects have made the city an upcoming commercial destination. All these projects include maximum facilities, all available under one roof. The capital values of office space that varies from Rs 4,000 to 8,000 per sq ft.
Sanjeev Seth from Cosmic Group stated that due to the availability of land in Greater Noida along with the reasonable price with growing infrastructure and good connectivity, the real estate Greater Noida is seen to be growing at highest pace. Certain areas along the 24.5 km-long Noida-Greater Noida Expressway are improving their facilities. Some of the important sectors that have seen to be highly developing are 94, 95, 96, 97, 100, 101, 107, 110, 142, 137, 143, and 168 along the expressway are having great scope for strong and sustained growth in all the real estate segments.
According to The Master Plan-2031 of Noida allocates, over 40 sectors along the expressway which have been divided into four major zones where 24.5km, 3.5km of the expressway falls under Greater Noida and the rest in Noida. Although most of the projects here involve high investment, targeting middle-class and limited-budget buyers and hence are developed in a 3-5km stretch along the expressway.
In terms of real estate in Greater Noida the projects along the Noida-Greater Noida Expressway are coming up with integrated townships that offer golf courses in their developments that offer golf courses in their developments apart from world-class features. This Residential property in Greater Noida offers a resort like environment, designed with pedestrian paths, golfing fairways, tree-lined streets, cycle tracks, energy efficient educational, institutes, site-lighting, shopping facilities, e medical centres and green-planted swales along the streets, golf-themed townships etc.
If you are looking for the Greater Noida property, you can also choose the option for the Yamuna Expressway, where the Jaypee Group has the major land banks. The company has the right to develop 2,500 hectares with a 90-year lease and is expected to consist of 1,162 acre parcels each at five different locations along the Yamuna Expressway consisting of one in Noida, two in Jaganpur, Mirzapur and one location each in Tappal and Agra.
