Living it Up in Noida

By: Bikash1003@yahoo.co.in

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.

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