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Property in Noida

By Raj Kumar Subscribe to RSS | July 21st 2012 | Views:

Noida stands for the "New Okhla Industrial Development Authority". Noida is located in the Gautam Buddha Nagar District under the government of Uttar Pradesh. Noida came to be formed on April 19, 1976 and each year this day is celebrated as the Noida day. It was during the emergency that Shri Sanjay Gandhi formed this city under the UP Industrial Area Development Act.

Noida city is well connected with Delhi. More than 50% of Noida's population travels to Delhi for work purposes. With the construction of flyovers, bridges and roads the connectivity to Delhi has improved considerably. The over bridge over the Yamuna River connects to Delhi real fast. The toll road takes hardly 20 minutes to reach South Delhi. Nowadays the city has become the most preferred destination among the corporates and the MNCs to set up their corporate offices. Big international and national companies such as Adobe Systems, EXL, Agreeya Solutions, GlobalLogic, Impetus, TCS etc have setup their offices in Noida. Two main reasons for this are: good infrastructure and close proximity to Delhi city.

Over the last one year, the Delhi NCR region has witnessed a great number of residential projects being constructed and the market speculation is that the growth will continue in the same pace for the next two to three years. According to a report, the year 2008 will have the maximum number of residential projects completed. The Delhi NCR region has shown a quantum growth in the last few years.

Noida properties could not have it better. Five properties in Noida, including three industrial and two residential properties have been auctioned at a whopping price of Rs. 14.4 Crores, four times their original reserve price. Noida properties or property rates in Noida and other NCR's have moved up by close to 30% in a year. Apartment prices in Noida today range from Rs. 3000 per sq ft. to Rs. 4000 per sq ft. depending on the facilities available.

Noida from being just yet another city in Uttar Pradesh has become an important destination for companies as well as people who want to lead a quality life. People who felt cramped in Delhi moved to Noida and soon Noida was the hottest spot for residential property at a much cheaper price than Delhi but a better life. Noida property market started to look up with various companies also moving in to open offices due to lack of space and high property rates in Delhi.

The infrastructure in Greater Noida is expected to match any similar world class township. Apartments in Greater Noida have already seen a steep price rise. Prices in Greater Noida have sky rocketed so much in the last one year that it is now practically beyond the reach of common man.

Noida properties and properties in Greater Noida are great options to invest and with the new greater Noida Phase II, all set to launch the new township, the Noida property news is getting hotter and lucrative day by day.

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Raj Kumar - About Author:
I live in New Delhi and write the latest information and reviews on manesar properties | Buy property in gurgaon | buy house in gurgaon

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