Residential and Commercial Real Estate

Real Estate Blog India

Should You Invest in Noida or Greater Noida?

Scroll Down To Discover

Should You Invest in Noida or Greater Noida?

  • 16 Jul 2023

Long gone from real estate investors' lists are Delhi and its close surroundings. Delhi has become expensive for the majority of those wishing to rent or buy a property due to steep rates and a congested population. Gurgaon used to be the next choice, but due to rapid expansion, it is now also highly expensive.

Because of this, Noida and its nearby twin Greater Noida have drawn attention from both real estate investors and startups searching for space. Since they were established more than 20 years ago, both of these places have prospered.

How Noida came into being

The New Okhla Industrial Development Authority, also known as NOIDA, was conceived of and established in UP in 1976. As an alternative to the high costs and limited space in Delhi, Noida started out as a tiny industrial town that specialised in offering a location for small businesses to operate from.

Noida was carefully and deliberately planned. As migrant workers came to the developing industrial sector, regulations were put in place to control expanding commercial and residential development. Infrastructure quickly expanded, and row homes and cooperative organisations appeared.

Noida quickly became heavily populated as the working people of Delhi began to swarm into the expansive areas it offered. This growth prompted the development of a more organised and well-planned extension, which became known as Greater Noida and is situated around 40 km from Delhi.

Connectivity and social infrastructure

Gurgaon, Delhi, and even Dwarka are all connected to Noida by the metro. While the new Aqua line is slated to link Noida and Greater Noida by October 2018, a brand-new international airport is now under construction in Jewar and is anticipated to be completed by 2022.

There are numerous educational institutions. Some of the most prestigious schools and institutions in Noida are Amity International, Shiv Nadar School, Delhi Public, Delhi Scottish, Jaypee Institute of Technology, Amity Law School, and Amity School of Engineering. Numerous healthcare alternatives are offered by hospitals like Indo Gulf, Max Hospital, and JS Hospitals, among others.

Noida vs Greater Noida

Noida has better connectivity and more cheaper housing options as compared to Gurgaon, Faridabad, and Ghaziabad. In 2017, the cost of real estate in Noida was roughly Rs 3,900 per square foot, with decent 2 BHK homes costing anything from Rs 24 lakhs to Rs 42 lakhs.

Greater Noida is larger, more open, and more contemporary. Greater Noida was mostly concerned with industrial development up until the 2000s before turning its attention to housing. In order to maintain objectivity, Greater Noida is separated into a number of sectors, each of which offers both completed and unfinished homes.

Greater Noida's Sectors 137, 143, and 168 are thought to be the greatest ones to invest in because of their excellent social infrastructure and high levels of connectivity. It is close to sectors like 93 and 94 that are more established. But as development projects continue, the scope is growing. For instance, a substation renovation that was announced last year is anticipated to provide a greater supply of voltage to over 15 areas.

Sectors 32, 74, and 79 would be excellent picks if you only wanted to examine Noida because they are close to Central Noida, East and South Delhi, and the motorway. Their value is further increased by the presence of adjacent parks, hospitals, schools, and markets.

Prices across Noida

Property in Noida, including Greater Noida, and NCR went through a significant slump in the last few years due to sluggish sales and unsold units. A recent report from Jones Lang LaSalle (JLL) showed that unsold residential inventory was as much as 4,40,000 across major Indian cities with Noida and Greater Noida accounting for about 6.3%.

However, that situation is already changing with the entry of seasoned corporate investors. Now, IT companies are setting up offices here, and the entry of big brands like Godrej, Mahindra, Tata, Dalmia and Prestige are being seen as a game changer.

Listing Title