Greater Noida Growing Real Estate Market

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

Greater Noida: It is a well developed area of the state Udham Singh Nagar. Many parts of city are the fastest emerging as new real estate hot spots and Property prices have risen about 21 per cent in the city. Apart from this appreciation in real estate price, the demand for residential units in all parts of the National Capital Region (NCR) has shown a positive trend. Now the city has emerged as an alternate destination for the people who are unable to find ample housing options in Delhi and adjoining cities of Noida, Gurgaon, Faridabad and Ghaziabad.

According to real estate analysts the city has number of builders such as Laureate Buildwell, Nimbus Group, Amrapali Group, Jaydev Infratech Pvt. Ltd, Supertech who were initially allotted the land for their project and the builder were set to build approx 10,5000 flats and 500 luxury houses/villas. And now there are 50 plus on goings residential projects in Greater Noida out of which only few are due for possession in 2014.

Buying Property Tips#3: Choose the Right Property
Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
Buying Property Tips#4: Do the Math Properly
Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
Buying Property Tips#5: Consider Additional Expenses
When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.

The City has some affordable localities such as sector Chi-V, Noida Extension, Omicron-1 and sector- PI. These are the best localities of the city for residential as well as official purpose and the price ranging from Rs. 3300 /sq.ft- Rs. 5000/sq.ft in sector Chi-V, Rs. 300/sq.ft – Rs. 5000/sq.ft in Noida Extension, Rs. 3200/sq.ft – Rs. 4200/sq.ft in Omicron-1 and Rs. 3900/sq.ft – Rs. 4300/sq.ft in sector-PI approximately. And the most affordable projects in t are Gulshan Bellina, Supertech Golf, Jaydev Unipark, Sun world Vandita and the luxurious projects of Greater Noida Includes Parx Laureate, Jaypee Star Court, Gulshan i-Homz and Gaur Saundaraym.

The master plan changes the real estate market of the city and the city development has several plans for infrastructural development. The development authorities have recently approved the much-awaited proposal for extension of the Metro line throughout the city and develop a road network of over 25 km, sewage treatment plants with a total capacity of 35,000 KL/day, and 130 MW captive power generators. This might change the landscape of the suburbs by providing affordable residential space at reasonable prices and it would lead to appreciation in the prices of residential real estate, which in turn would be a huge opportunity for investors. The demographics of Greater Noida mainly consist of students, corporate employees, and labourers. Students are often temporary residents from other parts of India and abroad.

Buying Property Tips#6: Inspect the Property
To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
Buying Property Tips#7: Pick the Right Financing Option
While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
Buying Property Tips#8: Invest through Equity
One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
Updated: August 1, 2017 — 11:01 am
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