Noida-Greater Noida has witnessed a strong real estate demand in the past few years and now, the market is seeing a rising trend that includes the surge in green homebuyers, where consumers prioritise environmentally conscious features, and those seeking professional space at home. In an interview with news18.com, Neeraj Sharma, MD of Escon Infra Realtor, discussed the Indian real estate market, especially Noida-Greater Noida, and shared his views on key factors driving the realty demand.
What are some key factors driving the real estate market in Noida and Greater Noida currently?
Noida and Greater Noida have radically transformed over the past year, emerging as a hotbed for real estate properties. Factors like their strategic location, robust infrastructure, and conducive business environment greatly contribute to the cities’ real estate landscape. The upcoming Jewar Airport is poised to further bolster Noida-Greater Noida’s industrial and business landscape by enhancing connectivity, attracting investment, and driving economic growth.
Furthermore, their strong road connectivity through the Noida Expressway, Yamuna Expressway, and metro connectivity has also driven the real estate market. This development, coupled with Noida-Greater Noida’s existing strengths in real estate and industrial development, positions the city as a prime destination for businesses and investors looking to capitalize on emerging opportunities.
How has the demand for luxury villas evolved in these areas over the past few years?
With the growing popularity of luxury housing, Noida-Greater Noida has transformed the definition of luxury in the region. As the demand for larger, thoughtfully designed spaces accommodating remote work and enhanced family living experiences has surged, developers are introducing a wide range of high-end homes and palatial apartments to cater to diverse tastes.
Features such as sustainability, IGBC Green Ratings, expansive terraces, airy interiors, open surroundings, and top-notch amenities within the project complex are sought after by discerning buyers. Contemporary grand luxury projects featuring lush green environments are also poised to thrive. We envision that luxury housing is positioned to become a top-selling real estate investment class, aligning with buyers’ sentiments toward premium and luxury projects.
Can you discuss any recent trends or shifts in buyer preferences within the Noida and Greater Noida real estate market?
Over the past few years, buyers have been seeking properties that redefine work-life balance, resulting in the demand for homes with an amalgamation of professional and personal spaces. Another rising trend includes the surge in green homebuyers, where consumers prioritise environmentally conscious features. Furthermore, the integration of smart home automation and security systems is redefining the concept of modern living. Homebuyers are increasingly drawn to properties equipped with intelligent features, enhancing convenience and safety.
How does the regulatory environment in Uttar Pradesh influence real estate development and investment decisions in Noida and Greater Noida?
The regulatory environment in Uttar Pradesh has contributed to shaping the real estate development and investment decisions in Noida-Greater Noida through stringent regulations, such as land acquisition laws, zoning ordinances, and environmental policies. The consistency of these compliances directly impacts investors’ confidence and long-term planning, encouraging developers to curate more projects. Hence, the regulatory environment in Uttar Pradesh has helped shape the region’s market dynamics, risk perceptions, and growth trajectory.
What are your projections for the future growth and stability of the real estate sector in Noida and Greater Noida?
Over the next few years, Noida-Greater Noida will witness continued growth and development across various sectors, including real estate, infrastructure, and technology. Key trends such as urbanisation, digitalisation, and sustainable development will shape the cities’ evolution.
Developers are aligning their projects with these anticipated market trends by focusing on innovative design, sustainable construction practices, and the integration of smart technologies. Furthermore, there is a growing emphasis on mixed-use developments that offer a seamless blend of residential, commercial, and recreational spaces to meet the evolving needs of residents and businesses alike.
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