Great Going for Greater Noida Ahead

By: George Gonigal

Greater Noida's distance from New Delhi, which was once a big setback for the area's growth and infrastructure, has become a boon for it. Earlier, individuals and investors shied away from picking up property in Greater Noida, but that sentiment has changed now. Greater Noida's real estate is one on the most promising and growing segments.

The city's distance from Delhi is its biggest asset. The area is bracing up to accommodate the new international airport at Jewar, 160-km long Noida-Agra Taj Expressway and a chick, spank F1 track too. Greater Noida has cinched these massive infrastructural projects only because vast expanses of land are still available there. This is something next to impossible in Delhi and NCR region.

Earlier, Greater Noida was considered to be a remote place. Now, the civic authorities in alliance with private property builders have chalked out plans to develop the region as an integrated and self-sustained city.

The civic authorities there, the Greater Noida Industrial Development Authority (GNIDA), is bracing up the civic infrastructure. The city has been promised 24x7 power supply and abundant sweet water. The Uttar Pradesh Development Council has lined up many concessions in Its IT Policy for Greater Noida. The idea is to attract IT and ITES companies to this segment. The GNIDA claims to have worked out a scientific layout plan for the city's development.

Greater Noida is the centre of attention of the property developers and dealers. Property developers are scouting for land banks there. Many have already announced their residential and commercial projects in the region. Property dealers feel that the property prices in Greater Noida are at least 40 per cent less than Gurgaon. This factor is attracting users in large droves.

The capital price for residential plot in Greater Noida varies from RS 23,000 - Rs 28,000 per sq mtr, while residential rentals vary from Rs 2,500 to Rs 8,000 per month. The posh localities there are Alpha, Beta and Gamma sectors. A 3BHK (200 sq mts) in any of these sectors cost Rs 27,000 per sq. mtr.

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