NOIDA, UATTAR PRADESH -- (SBWIRE) -- 11/02/2010 -- The market has witnessed a surge in the housing sector as a large number of new projects were launched in the area over the last one year. The report said that July-September in 2009 saw the zenith in the Noida Property market with a fresh influx of 15,500 residential units. The market also witnessed a correction of price in both the affordable and midsegment categories. The competitive pricing has caught the attention of the investor community making Noida real estate market a hot destination amongst all NCR options.
The shadow of the lull from Q3 2008 to Q1 2009 has been overthrown by healthy absorption levels due to a number of factors like abundant land stock, construction of the Greater Noida Expressway, and the development of Noida Extension in the Sectors 1 to 4 of Greater Noida across the Hindon River. Development of new road infrastructure to connect Noida to the new area of Sectors 1-4 in Greater Noida through a 130-meter wide road has opened up a huge land bank to the developers for affordable housing. Also, its close proximity to Noida has prompted developers to rename the are Noida Extension, which is around 10.5 km from Sector 18 of Noida, which is the central part of the suburban town. The development of road network, which has brought large land bank within the commutable distance from Delhi and the office complexes in Noida has enabled developers to launch 'Value-for-money' options for the buyers. Today, in Noida, one can buy a three bedroom apartment for Rs 18 lakh. This has significantly boosted the absorption levels in the city.
Despite surge in the absorption level, due to massive influx of supply, Noida residential property market has witnessed an increase in unsold inventory; and because of the large supply, prices in both affordable and mid-segment have been corrected and are unlikely to appreciate in the short- to mid-term.
Noida is an upcoming township which serves as the ideal residential address already to a little more than five lakh people, is one-stop destination for people who are searching property in the form of big villas, flats, individual plots and stylish apartments. Since Noida has been touted as the new hub for IT, there are a number of property options for people who are searching property in Noida can check out the recently constructed IT plots and IT building spaces which make use of latest architecture, are comparatively fair-priced and are ideal for your business purpose.
Source: http://www.allcheckdeals.com/Property-in-Noida.php