(Previously published on 8th Dec, 2018 in the Delhi edition of DNA Property Newspaper.)
Gurgaon and Noida are two of the best planned cities in northern India. They are also very important real estate markets adjacent to South and Central Delhi. Both these twin markets are very versatile in terms of the wide variety of residential choices they offer to investors and end users. These include villas, bungalows, apartments, penthouses and plots. Both, Gurgaon and Noida are also set to gain a lot from the much improved infrastructure around them.
Gurgaon gains a lot from the presence of BFSI, ITeS & Manufacturing sector while Noida has largely ITeS & Manufacturing companies spread across its SEZs. Several MNCs and large domestic firms – Cognizant, Google, Maruti, Honda Motors and many more have operations in these twin cities. As a result of these excellent job opportunities, many young professionals and working families throng to these cities. They also benefit greatly from the top notch schools, colleges & hospitals located here as well as numerous avenues for shopping and recreation; some of the largest malls in the country are located in Noida and Gurgaon.
With the completion of the Gurgaon leg of the Dwarka Expressway travel and connectivity has received a big boost. For residents and office goers in Gurgaon, this will be a big relief. Further enhancements under the Bharatmala Highway Project such as an elevated 23 km stretch of the Expressway, various connections which connect the elevated portion to different parts of Gurgaon, and the tunnel connectivity to the IGI airport will further boost connectivity in Gurgaon. Work on a cloverleaf 500 metres from the Kherki Daula toll plaza will begin soon and is expected to decongest daily traffic at this major junction.
Noida’s big pain point was connectivity to the IGI Airport and Terminal 1, but with the new Magenta line things have become much smoother, as one can get down at Terminal 1 and access all of South Delhi easily. Further extension work of metro till Greater Noida will connect some of the best residential sectors & Peripheral Business Districts in this city. The 56 km Faridabad-Noida-Ghaziabad Expressway (FNG) will further augment road connectivity while the newly inaugurated Eastern Peripheral Expressway provides Delhi-Greater Noida connectivity. The new Jewar airport in Greater Noida is expected to provide an alternate air travel option and ease traffic at the IGI.
Good town planning, excellent multi-modal transport and a growing commercial demand has led to some of the country’s leading developers choosing Gurgaon and Noida for development. Top names including Tata Housing, Sobha, Godrej, Shapoorji Pallonji have now found a stronghold in these markets, while several more are supposedly scouting for land.
Land prices as well as product prices have softened over the last 3 years, this gives a good chance for end buyers and investors to enter this market, the most sought after one in north India.