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  Category: Articles » Finance » Real Estate » Article
 

Living it Up in Noida




By bikash kumar

Veena Kumar was disappointed when her husband was re-located from Mumbai two years ago to his company's new office in Noida. Comfortable in her high-rise in one of the city's western suburbs, NOIDA seemed a distant land, known more for its kidnappings and criminals. What of course greeted her was the NCR's greatest story, and the regrets soon turned to wonderment and awe.

Noida's wide roads, exclusive residential townships and shopping plazas have attracted a very cosmopolitan culture to this corner of UP, which appealed to Veena when she moved in. The prospect of settling down into the city was welcomed by the Kumars, and the casual enquiries for a home began. The choices were plenty, and the rates, definitely more affordable than back home in Mumbai.

Veena is proud of the 4 bedroom villa she owns in Sector 33 – unimaginable in Mumbai! The Kumars are now scouting for a second investment as prices shoot up. Flats range anywhere between Rs.2470 to 3150 per .sq. ft in Sector 19, to Rs.2900 in Greater Noida and NRI city.

Construction of residential and commercial properties in Noida, Greater Noida and Indirapuram are moving at a frenetic pace. Large MNCs like Accenture and GE have purchased over a million sq.ft of area, and real estate firm Jones Lang LaSalle sources expect further triggering of rates when the international airport in Noida comes up. Parsvnath, ATS Greens, Krishna Apra, ELDECO, Supertech, DLF, Unitech, Assotech, Omaxe….all have exclusive properties coming up which are worth checking out. The investor would be assured by the fact that that all these builders have a high NAREDCO-ICRA rating, and offer the latest in quality construction to investors.

The UP Government has initiated planned development of this township with improved infrastructure and excellent connectivity via the DND expressway to Delhi, creating an up market self-contained satellite city. Apart from the DND toll way, Noida's links with the capital through the Metro will make NOIDA a more livable option for residents of already congested Delhi. 22 flyovers by 2009 have been planned, targeting a drive of just 35 minutes to the international airport.

Noida's pride, Sector 18 is a must-see for all visitors to the city, with the best brands dotting the mall landscape. Commercial properties prices in prices Real Estate Noida here shot up by 30% since work on the Metro began, and the rates range between Rs.15, 000 to Rs. 20,000 p.sq.m The Atta Market, not being part of the Noida Authority has a flexible rate. Sector 27, 29 markets have seen appreciation in rates, and are quoting at Rs. 12-15,000 p. sq. m presently. Sector 15 and 16 are thriving business centers too. With Gurgaon prices getting a little out of reach, Gurgaon-based companies like Oracle and Hewitt have already opted for Noida for their expansion plans. Noida's real estate prospects are bright, and a healthy trend is expected for 2007.
 
 
About the Author
Biaksh kumar is the contributing author to the http://www.indianrealtynews.com for distinct articles and news. Indian Realty news provides news on commercial and residential properties of various cities Delhi, Gurgaon, Mumbai, Chandigarh and Bangalore, Pune etc in India along with news on latest property investment, finance and property loan and laws in India.

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  Some other articles by bikash kumar
Delhi for rich only
The real estate in Delhi is now a rich-man's, upper-middle class' ball game. The economic stratum below this is practically out. ...

Real Estate-Hyderabadi Style
In the recent times India has observed a stunning growth in its sector of real estate business. The growth in the ...

The Growing Capital City of India
India is a growing nation. It is no more a backward country. Days are gone when India was considered to be a country of farmers, agriculture, and snake ...

Gurgaon rides the real estate boom
The once sleepy town of Gurgaon in Haryana has witnessed a real estate boom since the late 90's following liberalization of the Indian economy. Gurgaon, like Pune, Chennai, Hyderabad and ...

  
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