In recent times, Greater Noida (West) which was earlier known as Noida extension has emerged as a popular affordable housing hub across NCR. Presence of well-developed infrastructure along with many planned and proposed developments like Metro corridor and increased focus from state government has made this area a thriving real estate investment destination among home buyers.
Greater Noida (West)-The area
Established in 2010, Greater Noida (West) formerly known as Noida Extension comprises various sectors including 1, 2, 3, 4, 16B, 16C, 10, 12, and Techzone. In the last 18 years, the area has grown manifolds in terms of both developments as well as residential and commercial projects. Today it is home to around thousands of home buyers which are expected to grow more in future. Many leading developers have built their residential units and many have invested here to develop more such high and low rise units.
Greater Noida (West)-Affordable Housing Hub
Due to fast pace development and proposed infrastructure, Greater Noida (West) has also gained state government’s focus to develop it as an affordable housing hub of NCR. This is also due to the fact that the average property price in this area is comparatively lower than Noida and Greater Noida. The extension of the metro corridor also serves as another reason for the increased focus. This metro corridor will further improve connectivity of this area to Noida, Greater Noida, and Ghaziabad.
According to recent data, in past few years, Greater Noida (West) has seen some mega launches of more than 1.04 housing units, of which major were in affordable housing segment. Apart from it presence of many leading IT/ITes companies and MNCs, along with startups and industries has attracted many professionals to invest in these affordable housing units. Due to an increase in demand from this segment of buyers, more and more developers like Gaursons, ATS, Arihant, Mahagun etc. have launched many affordable housing projects in Noida Extension.
Some of the known affordable housing projects in Greater Noida (West) include Panchsheel Pinnacle, Steller One, Mahagun Mantra, Gaur City etc.
At present, the average property price in Noida Extension is Rs 3549 per sq.ft. However, the minimum cost of apartment starts from Rs 2956 per sq.ft. and the maximum is Rs 4142 per sq.ft.
Moreover, with a great mode of development, the property price will definitely show a steep jump in near future in this area, as suggested by experts.