Though the rapid urbanization is creating new spaces in the real estate market, the region like Noida has witnessed a tremendous rise in the prices of properties. Blame it on Metro connectivity or link to sectors which are fostering employment, the property rates will continue to rise rapidly.
Many blame it on the builder lobby in NCR region as a recently survey had showed that around 30% housing properties in Noida are lying vacant, but still their prices are sky high.
According to investors and industry watchers, the Noida realty sector — comprising suburban sprawls of a good area of the city — attracts investments, because it is linked to sectors like housing, retail, banking hospitality and media which are rapidly fostering employment and development.
Rolled out in 2000 to meet the demand of traffic congestion, Delhi Metro is also hugely responsible for the real estate boom in Noida region. In the last few years, land prices around the Metro areas have sky-rocketed as developers flocked in to invest in these areas. For buyers too, it’s a lucrative option owing to easy accessibility.
Adding to the woes of the buyers, the real estate prices are expected to escalate in Noida and its nearest locations, following limited land supply and rise in construction cost.
According to the Delhi Master Plan 2021, the population pressure is likely to rise from 18.2 million in 2011 to 23 million in 2021, which will push the upward movement of prices.
Experts say price appreciation is a combination of many factors such as cost of construction, inflation and land costs. According to them, the appreciation would have been much steep had a slowdown not hit the economy last year.
Although lots of new reforms like GST bill, new laws in RERA, demonetization, and FDI relaxations introduced last year has affected the real estate market badly, now people are much excited again to buy their dream home in the region. With these reforms right from the government hand, both buyers and investors are feeling themselves safe. These changes have actually left a positive impact on the industry while allowing the housing property seekers to find their dream home at comparatively lower prices.
When it comes to seeking for the best residential property in Noida region, you can trust only a leader – Trident Reality, which is a big name today in the real estate and construction sector. Established in the year of 2010, this property legend has a number of good projects in their hand including Trident Embassy, Sky View, Interior 3D View 2.5 BHK and Interior 3D View 4 BHK. So, what are you waiting for? Your Dream Home is awaiting you! Contact us right away and find many affordable options in our currently ongoing project -Trident Embassy!