Author: Mr. Vijay Verma, CEO, Sunworld Group
The Uttar Pradesh government has found a few ways to attract MNCs, including fostering an approach for extending employment opportunities to transient specialists and relaxing work laws, in addition to other things. While these approaches will help the whole state, the Noida, Greater Noida, and Yamuna Expressway would benefit the most because of their prevalent foundation. Foundation and network are relied upon to work on further with Noida-Greater Noida Aqua Metro opening and the proposed Jewar Airport.
The areas give top-notch living alternatives. Any expansion in economic activity will help interest for residential and commercial real estate all through the region. The prospects of this NCR market remains strong as it is the hub of competitively-priced real estate inventory. Some areas along the expressway’s periphery and the adjacent regions have significant potential because housing prices are still affordable. Any increase will benefit sectors with excellent connections via Metro and Expressway; International Jewar Airport adds to the region’s prospects, which are expected to see a surge in demand for residential and commercial properties.
Noida is already drawing in uplifted interest from buyers, attributable to the presence of reputable developers and how it offers excellent connectivity. Prices are competitive, and an increase of generally 15% is anticipated in the coming months. The region offers a great deal of life, making it quite possibly the most pursued areas. The presence of green life and all-around improvement are the pointers of effective land development. The appreciation will fluctuate contingent upon the projects in the area; for instance, luxury projects would appreciate by around 20%, while other projects by around 15%.
These big-ticket infrastructural developments typically cater to the needs of young people, who want luxury to surround them. A significant portion of the real estate demand in India has been contributed by the age group of 19-35 years, and this segment is likely to increase the need for superior quality urban infrastructure. If urban infrastructure comes in the form of such ‘big-ticket developments’, prices will surely go up, looking at the demand.
The news on Jewar Airport has stood out enough to be noticed since versatility would work on much more. Over the past half-year, this region has had a price appreciation of 1-3%; the low appreciation has been because of the pandemic circumstances. The developments are advancing rapidly, and it is expected that the planned city, which this area is, will be fully equipped for a quality lifestyle in a couple of years, and with the public authority’s accentuation on real estate, the city is ready for individuals to put resources into real estate.
Before settling on a buying choice, individuals look for availability and task quality. Property here has a great foundation, and individuals are becoming more mindful of the space’s latent capacity, particularly with the announcement of Jewar Airport. The market is now flourishing as people are attracted by the guarantee of a perfect climate here.