17/04/2020
Noida Extension- Following the rapid development of Noida as a satellite city to Delhi, the Uttar Pradesh (UP) government developed a planned extension to it, known as Greater Noida. The Greater Noida sectors adjoining Crossings Republik (Ghaziabad) sector 121 (Noida), and Tech Zone 4 (Greater Noida), are together referred to as Noida Extension. It hubs well-known developments like Gaur City, ATS Rhapsody and Mahagun My Woods. Affordability and connectivity are the prime selling propositions for this region. As Noida Extension’s development is fairly recent, social infrastructure development is in its developing phase and residents have to rely on the more developed localities in Noida such as sector 62 cluster and Sector 18. The newly constructed Noida-Greater Noida Metro is just 15 minutes (6 km) from Noida extension.
According to a research, the prices are likely to remain stable for some time in Noida Extension, as it has abundant supply and developers are offering various schemes and amenities to push for sale.
• The locality has an average asking price of INR 3,530 per sqft, lower than most localities of neighbouring city of Noida.
• Asking prices witnessed 1% increase YoY
• 2 and 3 BHKs dominate the demand, with nuclear families increasingly moving here, especially due to the affordable rents.
• 78% of the buyers are looking for ready properties showing aversion to under-construction projects carrying the risk of construction delay.
Source:https://property.magicbricks.com/microsite/research-insights/src/pdf/10popularlocalities.pdf
