Look for the Best Property in Noida
Posted by RG Group on January 28th, 2016
Noida has emerged as an attractive destination for retail buyers in the past few years. Its proximity to Delhi and excellent connectivity by road and metro make it a viable option for buying a house in this region. With large tracts of land available for development, it is witnessing massive construction of residential apartments especially along the Noida-Greater Noida Expressway, Yamuna Expressway and Greater Noida West (previously known as Noida Extension).
Noida provides excellent options for both mid-range and high-end apartments. It has the added advantage of better property rates as compared to Delhi’s other satellite towns like Gurgaon. Better city infrastructure and metro expansion provide attractive options for buyers who want to purchase property for personal use and also for people looking for investment opportunities.
Following aspects should be considered while looking for property in Noida:
Freehold Property vs. Leasehold Property
The property market in Noida has been witnessing a rise in consumer demand for retail properties because it provides the option to purchase freehold property. A recent High Court order allows conversion of leasehold land to freehold land and also gives the option to directly purchase freehold property. This grants complete ownership rights to property owners and also allows them to make alterations in the house or apartment, albeit with proper permission from the relevant authorities.
Proximity to Metro Station and Expressway
When one is to buy property in Noida, preference should be given to apartments and properties that are close to current and future metro stations. Details of future expansion of the DMRC (Delhi Metro Rail Corporation) network are available in the public domain and a large portion of it is scheduled to become functional in the next 2-3 years. Similarly, properties close to Noida-Greater Noida Expressway, Yamuna Expressway and National Highway 24 provide better road connectivity to Delhi and neighbouring towns.
Reputed Developers
It is always advisable to go for properties built by reputed developers. Project by small or unknown builders may be a little inexpensive but there is always danger of delay, poor construction quality or even of the project getting grounded. Noida offers a wide choice of properties developed by reputed developers. Many have significant presence in North India and are known for using high-quality building materials, providing better amenities like clubhouses, gyms, and children play areas in addition to ensuring their projects are executed and possession offered on time.
Apartment vs. Plot
Noida offers a range of property options for retail buyers – one may purchase an apartment in a high-rise building or buy a plot of land along the Yamuna Expressway. Due to abundance of plots in this area, capital appreciation is expected to take some time. On the other hand, apartments are a better bet for people buying property for self-use and for those looking at safe and attractive investment options. Many high-rise buildings have come up along Noida-Greater Noida Expressway, Yamuna Expressway and National Highway 24 as they are close to commercial areas like offices of large Indian companies and MNCs (Multi-National Corporations). More development is slated to come up in these regions because of better connectivity to Delhi and availability of land.
About the Author:
The article is written by Vineet Aggarwal who is Marketing Professional at RG Group. RG Group, the most transparent builder in Delhi NCR, offers the most trusted and simplified commercial space and home buying procedures for its customers. Having delivered 14 commercial and retail projects at various prime locations across Delhi, the Group has now earmarked a well-thought-of name in the Real Estate World.
