When households decide to buy property in Noida or any other region of the country, one aspect that is still difficult to be certain about is what will be a good location for a new home. Many parts of Noida are still poorly connected with other regions of Noida and also with much of the NCR. Considering the purchase of a new home in any city, large or small, requires some research on the part of the buyer.
As there have been steps taken by the government to make buying real estate a smoother and more transparent process for consumers, in the future buyers can be doubly sure of the kind of property they will own and by which date they can start living in their house. It is still however not as easy to discover the perfect locality that will be not only an ideal setting for a new house but is also one where the value of the real estate will steadily rise over a number of years.
The Biggest Impact upon Real Estate in India
The government’s role as a builder of infrastructure is still the major driver of the countries real estate sector and it can make or break a newly bought property with its decision such as where to construct a new metro station or how wide a road should be.
On the downside for property in Noida, a recent plan by the government to give the countries real estate market a makeover is better known and will have no impact on upcoming projects in Noida. Cities which are to be included in the “Smart Cities” initiative by the government shall provide an impetus to real estate in India and smart buyers should take note and be aware that buying a new home in a “Smart City” will likely be a wise investment.
While it is still unclear whether Noida will indeed be granted the status of a smart city, the odds are very much against it. But any other city across the country which is being considered to be included in the smart city initiative deserves greater attention from buyers.
Why Not Make Noida Smarter?
The biggest reason for Noida not being granted the “Smart City” tag is that Noida is already quite well developed and the tag which would transform the city into a “Smart City” seems unnecessary. Builders in Noida are among the best in the country and many projects in Noida are envied by many because they are attractive real estate properties. As per industry experts, cities which have adequate pre-existing infrastructure upon which moderate to higher expenditure may lead to greater efficiency and vastly raise the standard of living for its citizens are mostly likely to be transformed by the government into “Smart Cities”.
Such plans by the government should indicate to those eager to invest in new projects in Noida that once a city or a region in a city has adequate access to water, electricity, sanitation, waste disposal systems, IT services, and adequate civic amenities the government then takes it upon itself to develop the locality further. The presence of a metro station in a locality also has an impact upon the region’s property market as can be testified by the example of Bahadurgarh which was an unknown locality until a metro station was built at the locality which led to the price of property in the region to rise significantly.
Buyers keen to own luxury apartments in Noida shall likely not find such homes in regions which are not already well developed, but buyers with a more modest budget can benefit from buying larger affordable apartments in Noida that are in up and coming regions and which the government has planned to take under its wings and develop further along on the road to prosperity.