A decade ago, there weren’t many people who knew about this part of the national capital region. Today, it is among the most sought-after real estate locations of the country. Noida has become a household name for property projects and new establishments. Most of the major real estate developers have set up ventures here. Let us explore why Noida has caught on in terms of real estate.
History
An acronym for New Okhla Industrial Development Area, Noida is a colony that came into administrative existence on 17 April in 1976. It was established under the UP Industrial Area Development Act as part of an urbanization move during the emergency phase of 1975 to1977.
There were about 100 villages in Noida when it was first set up. There were flood plains of the rivers Yamuna and Hindon on both sides. Noida fell under the Gautum Buddh Nagar District of Uttar Pradesh. By 1997, Noida itself was being called Gautam Buddh Nagar.
New-age Noida
Today, many of those villages can be seen from the Noida Expressway, which starts from the Mahamaya flyover right up to Greater Noida. This expressway makes way for Taj expressway that takes you to Agra in only two hours. Noida is ranked at the 17th position for cleanliness, while other NCR cities like Gurgaon and Faridabad are ranked 87th and 237th, respectively. Noida is advanced in terms of infrastructure and is also home to the Film City.
The city falls under the Noida Vidhan Sabha constituency and Gautam Buddh Nagar Lok Sabha constituency. The literacy rate here, according to a census in 2011, was 88.58 per cent. And even though the district’s administration head office is in Greater Noida, the District Magistrate, who is the highest government official, lives here. That itself proves that Noida is among the better settlements that have come up in recent years.
Location
Noida is nearly 457 km northwest of Uttar Pradesh’s capital city Lucknow. It is only 20 km southeast of New Delhi and 20 km northwest of the district headquarters in Greater Noida. It shares its north and north-west borders with the national capital city of New Delhi and north-east with Ghaziabad.
Real Estate in Noida
Because of its closeness to New Delhi and the excessive pressure on land caused by the economic conditions, property prices in Noida have been on the rise. The prices on land have risen to Rs. 30,000 to 85,000 per square meter. The very same plot of land would have cost between Rs. 3,000 and 15,000 per square meter till nearly 5 years ago.
Noida has always been in the limelight for one reason or the other. Be it the highly-awaited project of the tallest building with 135 levels, which later got shelved, or its upcoming shopping malls and housing projects, this city has always received thumbs up from investors.
By November 2006, the commercial area of sector 18 market had broken records for land rates in the NCR region. The market witnessed a plot of land being sold at an exorbitant price of Rs. 650,000 per square meter. This price was near the real estate rates of major cities like New York, Singapore, Hong Kong and Tokyo. And since then, there has been no looking back for this city. Today, Noida has a population of more than 642,381. For this very reason, major real estate developers are venturing into this region to build some of the finest homes of the country. Presently there are about 20,650 listed properties in the market, with 193 new housing projects.
Noida is divided into smaller areas that have been numbered. Usually located in a sequence, these areas or sectors make for an excellent lay-out and speak volumes about the authority’s intelligent planning. Among the newer sectors, sector 47 Noida is said to be the most impressive. This sector is brimming with greenery – there are allocated parks with every block and a sprawling central lawn that sees residents coming from all blocks and also from outside the sector. However, not anyone can just slip in. There is complete security provided all around the sector in the form of a high boundary wall with barbed wires, 24×7 security guards at all the five gates, and CCTV cameras. The sector is surrounded by other posh localities and markets. There are two fully-functional hospitals right outside sector 47. For all these conveniences, property in sector 47, also called golf residency, is considered lucrative. There are homes for everyone – one can either buy an apartment in the coveted Jalvayu Towers which is a gated society or buy a floor in a bungalow or even a complete house! There is also land available for purchase here. There is an area specifically allotted for commercial purposes beside the sector, while if one needs, the market area of sector 18 is just 10 minutes away! There are shops inside the sector for daily conveniences.
The Metro is expected to come nearer to the sector as part of a new proposed plan. It is said to be extended till Greater Noida. The DND flyway is just 15 minutes from the sector. Better connectivity and a fine living environment is what is drawing people to stand up and take notice of this green locality. The real estate of this sector has already started booming and is expected to soar to new heights. An investment here would reap a lot of benefits.
Author bio: Devika Arora has been writing resourceful articles for the avid readers who wish to learn more about Indian real estate. The above article by Devika discusses about property in sector 47 Noida. Ample research has been done in order to compile the given data and present an overview of the industry.
Property dealings can be tricky. Finding the right piece of land to sell or buy becomes a nuisance if proper data and pricing isn’t provided by the real estate agents. Looking at a particular land or property allows us to make a picture in our mind regarding the surroundings and the real estate agents quickly make it a reality. Going by the age old methods of getting or owning a property, customers have incurred losses and due to this the multiple listing services came into existence.
Understanding the concepts
Looking for a piece of property in a large area makes the customer seek the services of a land broker who brings him the best of deals available. The advantages include that they have an access to the MLS sheet of the given area. This list allows proper acquisition of land as the brokers spanning over the entire area are bound via this listing pact. This list also gives the broker information about various brokerage percentages. The benefits which are reaped by the customers are also presented by the concept that any land can be shown by different brokers as all are connected via payment schemes.
Giving exposure
The world market is huge and even a single area can make property searching a daunting task. Similarly for selling there are many aspirants looking to sell off their properties and making at the top of the list is a task in itself. These difficulties which arise can be curbed by making the property appear in the multiple listing service lists. This includes the name and prices of the sold and bought property alongside the brokerage charges regarding various dealings and the entire modus operandi.
Contributions to the real estate
This list can help the real estate market in many ways. These include:
- Incentives provided keep the excitement in property alive
- Any sort of property ,big or small, is taken care of
- Easier to search for lands
- Constant nagging by group of brokers have been negated
Demographic implications
Every area can’t be covered by a single listing service. Due to geographical differences these are many services which deal with varied types of land. The California or Australian continent based cities have their separate services allowing the global customer to look into prospects and deals over the entire globe.
Broker-Broker association
This list is exhaustive and deals with all the technicalities related to the area. The properties are displayed along with which broker is to be considered for the same. The compensation schemes are also mentioned clearly which allows any broker to sell a piece of land in somebody else’s domain by knowing the compensation rates beforehand.
Benefits to all
This service can be beneficial to both the customer and broker in many ways. The customers have a wide variety of choices enabling them to choose wisely. The brokers also have increased commission rates and many properties are there to incur profits. Proper advice is also rendered by them to the customers as every piece of land belongs to the broker domain.
Summary
Many benefits can be gauged out of the listing services allowing the users and customers to make profits and also the brokers to get hefty compensation rates. This creates a relation of mutualism among the brokers and spreads harmony in the competition prone field.
Description
Keep getting the proper details in the field of property dealings using the features of the multiple listing services or MLS to customer benefits.
Adil Kaya, a renowned author, has been writing quality articles on bahis10 and real estate related topics. He is a regular contributor to the website http://www.bahis10.com/.
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Written by admin on November 14, 2009 |
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Written by admin on November 16, 2008 |
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