Noida: Greater Noida West has emerged as a standout in housing investments at affordable prices, according to a report by Magicbricks. Often referred to as Noida Extension, this area is experiencing a real estate boom, with rapid development in both residential and commercial sectors.
The ‘State of the Market’ report by Magicbricks highlights that Greater Noida West is outperforming other localities in Greater Noida.
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The Reasons:
Greater Noida West is the fastest growing micro market in Greater Noida in terms of demand.
- Highest Supply Growth: Greater Noida West has experienced the highest growth in supply compared to other localities in Greater Noida.
- Top Rental Growth: It has recorded the highest rental growth among all localities in Greater Noida.
- Strong Returns on Investment: The area offers substantial returns for real estate investors and homebuyers, with capital values increasing by 21.62% year-over-year.
Greater Noida’s Micro Markets Show Negative Quarter-on-Quarter Growth in Supply
- Omega-Chi-Phi declining by -6.6%. Zeta – Eta – Theta demonstrates the highest YoY growth in supply after Greater Noida West, at 5.61%
- Omega-Chi-Phi exhibits the second-highest QoQ demand growth at 3.84%, while Phi-Ro-Sigma displays the second-highest YoY demand growth at 17.38%
- Omicron-Mu-Xu shows the second-highest Q-o-Q capital appreciation of 15.69%, following Greater Noida West, while Omega-Chi-Phi exhibits the highest Y-o-Y capital appreciation among other micro markets, at 36.36%.
- Phi-Rho-Sigma demonstrates a 5.74% rent growth Q-o-Q, while Aplha-Beta-Gamma-Delta shows 11.29% Y-o-Y growth, both following the performance of Greater Noida West.
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How accessible is Greater Noida West?
- Strategic Location: Greater Noida West’s advantageous location enhances its appeal for those seeking convenience in travel and accessibility.
- Mass Rapid Transit System (MRTS): The upcoming MRTS will provide residents with convenient commuting options.
- Enhanced Connectivity: Proximity to key transit points improves regional connectivity, contributing to a well-rounded transportation network for the community.
Reasons why Greater Noida West is witnessing a housing boom
Affordability: Properties in Greater Noida West are more budget-friendly compared to other parts of the National Capital Region (NCR), attracting cost-conscious homebuyers.
Infrastructure Development: Significant improvements in roads, connectivity, and public transport enhance accessibility and convenience for residents.
Housing Options: A diverse range of housing options, including apartments, villas, and plotted developments, caters to various homebuyer preferences.
Proximity to Employment Hubs: The area is well-connected to major employment centers in Noida, Greater Noida, and Delhi, appealing to commuters.
Investment Potential: The area’s potential for future property value appreciation attracts investors.
Green Spaces: Greater Noida West offers more open spaces and greenery than the crowded city center, appealing to those seeking a tranquil lifestyle.
Government Initiatives: Government policies and initiatives to boost real estate development have contributed to the area’s growth.
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Developer Projects: Numerous real estate developers have invested in Greater Noida West, bringing modern amenities and well-designed communities.
These factors collectively drive the increased demand for real estate in Greater Noida West, making it a rapidly developing and sought-after residential area.
