Fewer Open Spaces a Negative to Owning Property in Noida

An advantage of owning property in Noida versus New Delhi is that Noida had recently been left untouched by huge urban projects, projects that take up valuable open space. Open space in New Delhi is a luxury as much of the land in the city has already been converted either into residential or commercial space. Delhi residents love the parks in their city probably because there are so few such regions with greenery. What often drew households to Noida two decades ago is rapidly dwindling in Noida today as much of the suburb is witnessing a boom in the construction of high rises which obstruct the view of the residents of Noida and make many who own flats in Noida feel claustrophobic. Real estate companies in Noida may have a tougher time selling properties in Noida to those who may have come looking for a home surrounded by wide open spaces as such space is being rapidly depleted in Noida. Some go so far as to state that if appropriate action is not taken immediately, Noida may become akin to a ghetto with closely packed high-rises whose occupants may only view one another’s faces when they look out of a window.

The vision for Noida laid out more than a quarter century ago intended to make the suburb a highly dynamic region of New Delhi where industry and homes would both exist harmoniously without infringing on the quality of life of those lived in residential projects in Noida. Certainly, no one at that time imagined that an upstart region of New Delhi located in Uttar Pradesh would one day be the backdrop of high-rise buildings that would rival those in Mumbai. This is, however, becoming reality and those who live in Noida are paying the price with cramped developments, a claustrophobic feel when they step out; this in spite of the fact that they had intended to move to Noida decades ago to escape such ugly urban truths then found in New Delhi.

A large number of developments are certainly great news for those who are employed for building them as well as for the top builders in Noida who are commissioned with erecting such developments, many such developments are by all measures, world class, however the region surrounding is becoming ghettoized. Builders and developers in Noida and those who are employed as laborers benefit when there is ample work while those who poured their life savings into 2 BHK flats in Noida lose out as their home may eventually begin to lose the appeal which led many to live in Noida a decade or two ago.

Concerning open spaces, the appropriate image to come one’s mind need be one of relative peace and quiet and where adequate greenery for both young and old allow them to spend time either playing or conversing with one another. Upcoming projects in Noida have taken on grotesque features which deny residents many of the pluses which drove them to abandon New Delhi in favor of Noida. Many such new projects in Noida have more than forty floors one on top of another which drastically restrict the view of the city’s residents. Even luxury apartments in Noida in developments with ample room inside for parks and children’s play areas are losing their initial appeal as Noida is gradually being reshaped by commercial developments and towering colossal building projects.  

Gurgaon: A Real Estate Heaven for the Commercial Sector

The Delhi-NCR region of India has been on the forefront of uplifting real estate and taking it to a whole new level. Talking particularly about the city Gurgaon, it is safe to say that the location has been attracting many eyeballs recently and is on the verge of becoming a realty leader. Gurgaon, which has always surprised investors with unique schemes and affordable property rates, is now grabbing all the attention because of its development in the commercial real estate market. Emerging as a rising start of India’s commercial real estate, the city is a prime location for startups and various established multinational corporations.

Once considered a nondescript rural area in the outskirts of Delhi, Gurgaon is now being considered to be crowned as the emperor of real estate world. Here are a few examples of how this city is setting examples for other locations of India-

Increasing employment opportunities

With the rise of urbanization in Gurgaon, it has also received countless job opportunities over the past few years. The market has been flourishing quite well and with the rapid land development, there is nothing than can possibly bring it down. By constructing government offices, luxurious houses, restaurants, etc., in the vacant spaces, realtors are making Gurgaon a place with much diversity, which has a lot to offer to everyone. Throughout the construction process, realtors are looking out to hire more number of people to work for them. Hence, employment is driving most of the real estate expansion that is currently taking place in Gurgaon.

Escalation of jobs in IT sector

Real estate in Gurgaon is not just driven by the high-demand of office spaces but also by the people looking out to find a suitable job opportunity in the city. Most of the infrastructure that has been finalized and built by the government consist a large number of IT companies. Moreover, after the establishment of Cyber City in Gurgaon, things have become more interesting for those working in the technology sector. This has given the much-needed boost to Guragon’s economy and overall development as a Smart City.

An interesting fact is that the office spaces are being re-designed and planned by realtors so that they are able to attract more investors through modern designs. Hence, it becomes a win-win deal for everyone involved in a real estate deal whether it is a realtor or an investor.  While there are many other issues to address in the city, one thing that’s keeping everyone on edge is the booming demand of commercial properties. A more interesting fact is that developers from different cities are now shifting gears and finding a way out in Gurgaon. With higher return on investments as compared to other cities, the real estate market of Gurgaon is here to stay.

While the year 2014 was a recovery phase for real estate, 2016 is going to be a game changer altogether for real estate India. Going by the high demands and continuous expansion of commercial realty industry in Gurgaon, the city’s success is indeed inevitable.