The real estate sector in Noida is bulging with immense opportunities. The vital reason is the continuous migration of people from Delhi to Noida who are desperately putting efforts to invest in properties and get their permanent residence.
Noida (New Okhla Industrial Development Authority) is an analytically planned city. Here residential, as well as the commercial property developments are going hand in hand to make the city advanced. Thinking of buying a property in Noida and Greater Noida is obvious. It must have attracted you as well. Living in Noida offers immense job opportunities, convention centers, and some of the exclusive upcoming projects in the area.
Following are the reasons that make them sure about their decision
Noida is running high on its stream with the Delhi Metro's Magenta line set to connect south Delhi to Noida. These days, the time taken to commute between the two destinations will come down from one hour to 16 minutes. Here are some other reasons also that support any person’s decision of buying residential or commercial property.
The reasonably lower price due to demonetization
Due to the demonetization move and the execution of RERA and GST, Noida real estate had witnessed a noticeable slowdown. The unsold record in the city shot up. Investors are still rising from the shock of demonetization and trying to understand the new real estate policies. Hence, they are offering varieties of property at a reasonably lower price.
Simplified Property Registration Process
With Real Estate Regulations Act executed in the entire country, Noida Real Estate Regulatory Authority has also prearranged the entire property registration process to simplify it. Earlier, registering property in Noida was a big challenge, but not now. The authorities of the city are implementing new policies and regulatory laws, hence making property registration in Noida quick and simple.
Growing Real Estate Infrastructure
Another reason why you must to invest in Noida real estate is the growing infrastructure in the city. Be it Metro projects, new residential & commercial real estate projects, or road projects & expressways for seamless connectivity, the real estate infrastructure in Noida is growing fast.
RERA Making Things Transparent
The government implemented Real Estate Regulations Act in May 2017 to allow the property buyers against the corrupt actions of the builders and makers. The Uttar Pradesh Real Estate Regulatory Authority implemented this law to protect the home buyers and boost investment in the real estate industry. It adds clearness to the whole investment process as the customers and investors can see before the builder or developer is already registered with the authority or not.
Return on Investment (ROI)
Greater Noida and Noida real estate have the potential to give a pretty remarkable ROI according to the kind of developments that are happening in the region. Currently, there is quite a difference in the costs of properties in Gurgaon, Noida and Greater Noida. However, with the planned infrastructure and Government efforts. The difference is going to decrease sharply in a few years. This might be the most appropriate time for investment in Noida real estate and Greater Noida as the price of real estate will surely go up.
Things to consider before investing in Noida and Greater Noida real estate
Before investing in the real estate of Greater Noida, you must always check for the CRISIL rating. The higher the ratings are, the better the facilities and amenities of the property.
The Cost of Borrowing Loan:
Presently the home loan is available on higher rate of interest in Greater Noida. So always check for interest rates and opt for the best deal indeed.
It is always better to opt for the ready to move in option which has location advantage and it is near all basic amenities like offices, markets, schools, and hospitals.