Renowned real estate experts have observed a significant influx of tech-savvy individuals and first-time homebuyers in Noida Extension (also recognized as Greater Noida West), thanks to its strategic positioning near IT hubs, thriving business districts, and reasonable property rates.
In the aftermath of the pandemic, Noida Extension has rapidly evolved into a burgeoning real estate submarket within the National Capital Region. It boasts a dedicated sector, Techzone IV, which houses tech firms, IT parks, and data centers.
In accordance with real estate authorities, Noida Extension presents a compelling choice for middle-class and first-time homebuyers with its offerings of affordable two- and three-bedroom residences. Esteemed developers have introduced new projects, further elevating the allure of the residential real estate landscape.
IT professionals cite accessibility and affordability as key factors influencing their decision to invest in Noida Extension. Noteworthy residential developments in the area encompass Heritage Skyward, Arihant One, Coco Country, Trident Embassy, and others. Upcoming ventures like CRC Joyous and Gulshan Avante are poised to contribute to the region’s attractiveness.
Property values in Noida Extension have steadily appreciated, marking an approximate 17 percent increase in the past year, with an average rate of Rs 5,400 per sq. ft. Sunil Sisodiya, the founder of Geetanjali Homestate, elucidated that price fluctuations are contingent on sectors and locations, spanning from Rs 4,200 to Rs 7,500 per sq. ft.
Following the reopening of offices post-pandemic, there has been a surge in rental demand within Noida Extension. Rental rates for two-bedroom units range from Rs 10,000 to Rs 16,000 per month, while three-bedroom apartments command an average monthly rent of Rs 17,000 to Rs 22,000. One-bedroom suites, favored for investment purposes, yield monthly rents of up to Rs 8,000.
Though Noida Extension offers numerous advantages, residents do grapple with challenges such as traffic congestion and limited public transportation options. Proposed infrastructure enhancements, including a metro corridor and an underpass, are poised to alleviate these concerns in the foreseeable future.