Be it the swanky localities of Noida or the premium properties of DLF Gurgaon, the real estate market of the National Capital Region has witnessed enormous growth and appreciation in recent years.
The recent reports have revealed that amongst all the property markets the appreciation of Gurgaon property is exceeding the capital as well as the NCR region.
Most of the investors are in a fix to purchase a property in Noida or Gurgaon. The comparison between the real estate of Noida and Gurgaon entails many factors with a rapidly rising number of investors flocking the market to purchase properties.
Noida, a city of Uttar-Pradesh, bordering the eastern region of the capital is a well-grown residential and corporate hub. It is just a 15-20 minutes drive from the heart of the capital Delhi. Residing populace enjoys the sufficient infrastructural facilities such as sufficient power supply and good connectivity of flyovers, convenient means of transportation etc., boosting the reality market of the city.
Till the time before recession the property rates in Noida were exceeding the Property rates in Gurgaon. But the current market trend reveals a bit higher appreciation of the Gurgaon properties than Noida.
The descending and stagnating prices in some of the sectors can be attributed to the slow commercial development as compared to Gurgaon, significant distance from the Delhi airport, prevailing lawlessness and the low corporate count as compared to Gurgaon. Estimation reveals the residential oversupply in the city to some extent.
In some of the Noida sectors such as 20, 22, 28 and 31 properties, including residential and commercial have registered an appreciation of 5% to 8% over a year whereas the Gurgaon property prices during the same period have shown an appreciation of 10% to 12% on an average. The current estimation exhibits substantial variations of prices between the two cities. Over all, the Gurgaon properties are 15% to 25% costlier than Noida properties.
Flanked by Delhi and Rajasthan, Gurgaon city has a perfect location with proximity to airport and eight-lane expressway connectivity with capital. Upcoming Western Expressway is expected to boost the property market further by connecting Gurgaon with Faridabad, Sonepat, Noida and Ghaziabad. The recent Metro Rail link has already pushed up the prices. But, despite all the growth factors, the inadequate infrastructural development in the city is proving to be discouraging for dwellers.
Gurgaon real estate is deemed as the most interesting proposition for real estate investment these days, giving assured returns to its investors. Gurgaon city continues to be a very promising investment destination. The market trend since 2003 with FDI norms relaxation in 2005 witness a property appreciation value up to10 times the cost price.
A gross comparison of all the factors concludes that currently Noida and greater Noida are undoubtedly a better place to dwell in with its well planned development and comparatively affordable property rates whereas the Gurgaon real estate is a lucrative investment option but dwellers are yet anticipating it to become a better place to live in if the Haryana government implements the proposed plans of infrastructural development in the city.
Author: Sumit Sighania
Sumit Sighania is currently serving the position of a Sr Executive – Content Developer at a3solutions.in. His responsibilities include writing and editing real estate content for the website. His main interests are photography, travelling and food.