The National Capital Region (NCR) incorporates India’s largest urban crowd with a population of over 54 million residents. NCR includes New Delhi, Gurgaon, Noida, Greater Noida, Ghaziabad & Faridabad etc. Population growth has been driven by the booming industrialisation and developments in the past. Massive growth population has translated into a robust real estate industry. However, over the last 2 years the market has been subdued due to oversupply and higher prices. The sector had not witnessed much growth despite of the increasing industrialisation. Though overall sentiments have not been very bullish but certain markets have demonstrated strong growth in the recent past. One such market has been Greater Noida. The city, which till recently has been part of Noida has come up with a perfect example of well-planned township. It has emerged as one of the India’s smartest city and likewise succeeded in breaking the prevailing stagnancy in the NCR market. According to the data revealed by Square Yard’s Global Intelligence Cell (GIC), Greater Noida imparts an edge over other sub cities on the basis of multiple reasons. The city stands tall vertically. It is also very progressive in terms of industrialisation. Number of reputed companies have their headquarters such as GSC Glass Ltd , Mansfield Cable.Co , Wipro Technologies , Spack Automobiles etc. have their offices in Greater Noida. Rapid industrialization has stimulated growth in the education sector as well. Greater Noida features several renowned engineering, medical, law and management colleges like I.T.S Engineering, Lloyd Law College, Birla Institute of Management and Technology. Acclaimed Universities like Sharda University, Gautam Buddha University and Galgotias University are also present. Apart from quality higher educational organisations, several good schools have also made their presence in the city. Apart from education and industrialisation, it also provides best medical facilities. Max Multi Speciality Hospital, Green City Hospital, Astha Hospital are some of the good hospitals located in the region. Greater Noida is emerging as a self-sustained metro featuring good quality facilities for its residents. Greater Noida relishes an excellent road connectivity. Sharing vicinity to Pari Chowk, Greater Noida is well connected to Yamuna Expressway. The proposed Faridabad Noida Ghaziabad (GNG) Corridor also lies on the verge of completion. It is expected to be completed much before the stipulated time, which has been 2018 in the past. The completion of the 56 km long stretch would provide a robust and direct connectivity and cut down the hassles of massive traffic jams. The much sought after Noida metro expansion plan has eventually hit the ground, which is also contributing significantly towards appreciation. The construction of the 30 km metro line stitching Noida to Greater Noida has begun on Ground. The project will drastically improve the future prospects of connectivity. Greater Noida has many hotspots for investors and end users. Most of the Grade A builder active in the NCR are showcasing interest in executing their projects in the area. In fact many have started their projects. Quite a number of such projects are also nearing completion. The property prices are envisaged to appreciate by 30 to 40% in near future in some of the hotspots.
Analysis of Greater Noida Realty Market
