For investors, New Gurgaon and many parts of Greater Noida are fast emerging as new real estate hot spots. In the past year, New Gurgaon has recorded property price appreciation of 66 per cent. While property prices have risen about 21 per cent in Greater Noida, the area isn't limited to being an end user market; investors were investing in residential units in Greater Noida, hoping for significant returns through the next few years, said experts.
However, real estate analysts make a distinction between the two regions, in terms of investment - while New Gurgaon plots is referred to as a high investor market, Greater Noida is termed a market for low-ticket investors.
As of March-end, the average residential property price in New Gurgaon stood at Rs 7,068 a sq ft, against Rs 2,528 a sq ft at the end of March 2009, a rise of 180 per cent, according to data by real estate research firm PropEquity. In Noida Extension, part of Greater Noida, prices have risen 49 per cent through the last five years. In the last year, prices have appreciated 16 per cent, compared with Rs 2,818 a sq ft at the end of March 2012.
In Yamuna Expressway, part of Greater Noida, prices rose from Rs 3,500 a sq ft at the end of March 2009 to Rs 3,664 a sq ft at the end of March this year. In the last year, prices rose 21 per cent.
Samir Jasuja, founder and chief executive, PropEquity, said Greater Noida saw a healthy price appreciation due to availability of affordable options, while New Gurgaon had emerged as the next best location because of good infrastructure, attractive pricing and good-quality projects. Besides, the profiles of developers had also aided growth in New Gurgaon. "Apartments in New Gurgaon is already attracting a lot of investor interest. And, looking at the trends, this active investor interest would only accentuate. The region is fast emerging as Gurgaon's luxury destination and we expect developers would continue to launch good premium projects," he added.
Apart from these two areas, Dwarka Expressway is also attracting investor interest. Other areas that have grown consistently are Golf Course Extension Road projects, Sohna Road and Noida Expressway, experts say. Dwarka Expressway and Noida Expressway recorded price appreciation of 206 per cent and 158 per cent in the last five years, respectively. As of March-end, prices stood at Rs 7,121 a sq ft in Dwarka Expressway, while in Noida Expressway, they stood at Rs 9,435 a sq ft. In the last year, property prices in both the areas rose 45 per cent.
Source:http://www.business-standard.com/article/companies/new-gurgaon-greater-noida-emerge-as-real-estate-hot-spots-113061500825_1.html
However, real estate analysts make a distinction between the two regions, in terms of investment - while New Gurgaon plots is referred to as a high investor market, Greater Noida is termed a market for low-ticket investors.
As of March-end, the average residential property price in New Gurgaon stood at Rs 7,068 a sq ft, against Rs 2,528 a sq ft at the end of March 2009, a rise of 180 per cent, according to data by real estate research firm PropEquity. In Noida Extension, part of Greater Noida, prices have risen 49 per cent through the last five years. In the last year, prices have appreciated 16 per cent, compared with Rs 2,818 a sq ft at the end of March 2012.
In Yamuna Expressway, part of Greater Noida, prices rose from Rs 3,500 a sq ft at the end of March 2009 to Rs 3,664 a sq ft at the end of March this year. In the last year, prices rose 21 per cent.
Samir Jasuja, founder and chief executive, PropEquity, said Greater Noida saw a healthy price appreciation due to availability of affordable options, while New Gurgaon had emerged as the next best location because of good infrastructure, attractive pricing and good-quality projects. Besides, the profiles of developers had also aided growth in New Gurgaon. "Apartments in New Gurgaon is already attracting a lot of investor interest. And, looking at the trends, this active investor interest would only accentuate. The region is fast emerging as Gurgaon's luxury destination and we expect developers would continue to launch good premium projects," he added.
Apart from these two areas, Dwarka Expressway is also attracting investor interest. Other areas that have grown consistently are Golf Course Extension Road projects, Sohna Road and Noida Expressway, experts say. Dwarka Expressway and Noida Expressway recorded price appreciation of 206 per cent and 158 per cent in the last five years, respectively. As of March-end, prices stood at Rs 7,121 a sq ft in Dwarka Expressway, while in Noida Expressway, they stood at Rs 9,435 a sq ft. In the last year, property prices in both the areas rose 45 per cent.
Source:http://www.business-standard.com/article/companies/new-gurgaon-greater-noida-emerge-as-real-estate-hot-spots-113061500825_1.html
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