NOIDA or New Okhla Industrial Development Authority is located in Gautam Buddh Nagar district of Uttar Pradesh. This city which falls under the catchment area of the Yamuna River shares its border with New Delhi, Gaziabad and Greater Noida. Being close to New Delhi and the National Capital Region gives it an extra edge.Witnessing a whole lot of commercial establishments, plentiful of developers and builders have already established themselves in this city with numerous residential real estate projects.
Currently, Noida is in news after the globally acclaimed luxury hospitality giant Four Seasons has launched its private luxury residences at mix land-use property in Delhi. Each apartment will be costing between Rs. 10 crore to Rs. 25 crore. The owners will enjoy hotel like facilities such as temperature controlled swimming pools, laundry, in-residence dining, valet service, transport services, housekeeping and much more.
Noida is a happening place with a lot of greenery and natural beauty and is populated with the best world class infrastructures. Another plus point that works for it is being very close to Delhi, which results in a win-win situation.
Projects like Four Seasons are transforming the definition of quality living and affluent people in New Delhi and National Capital Region (NCR) are ready to invest in such kind of projects for luxurious and comfortable living.
The prime reason for such growth of Noida city is its connectivity to New Delhi, and Delhi Metro has played an essential part in it. Through Delhi Metro, Noida is now connecting to almost all the commercial places like Connaught Place, New Delhi, IP Estate and Akshardham Complex. Noida features three main expressways:
- DND Flyway that runs across the river Yamuna, connects Noida and Delhi
- Noida-Greater Noida Expressway (NGN Expressway)
- Yamuna Expressway, connects Noida to Agra via Mathura
Noida city is populated with well known educational institutes and hospitals. Some of the best educational institutes like Amity University, Jaipuria Institute of Management, JSSATE, Asian Academy of Film and Television, Mahrishi Vidya Mandir, Amity international, DAV Public School, Ryan International are part of this real estate hot-spot. Beside these there are loads of good hospitals in Noida, such as, Apollo hospital, Fortis Hospital and Metro Hospital and Heart Institute.
The reason for growth of residential real estate in Noida is attributed to the IT /ITES sector and to manufacturing industries. It is a major hub for multinational firms like Sapient, TCS, Accenture, Samsung, Dell, Ericsson, Tech Mahindra, Adobe System, ALSTOM, Escorts and Honda.
Noida city had been providing affordable as well as luxury and high-end projects to its potential customers. Some of the ongoing luxury projects are:
- Prateek Stylome
- Curio City
- Mist Avenue
Apart from luxury project, apartments in the range of Rs. 60 lakh to Rs. 90 lakh are having maximum sales in Noida and they are mostly with 2 and 3 BHK configurations. As per a report, around 56000 residential apartment s will come up in Noida by 2014.
The prices in Noida may increase by 10 to 15% in next 6 months; the reason for this increase is the hike in cement prices. The average price for a regular apartment in Noida is Rs. 4,100 per square feet.