The Union Budget 2019 turned out to be a surprise package for the affordable housing segment after the FM announced an additional rebate on interest paid on home loans till March 31st, 2020. This new proposal by the government has given a new ray of hope to the home buyers who had always dreamt of owning a property. This key announcement by the government not only brought back the trust of the buyers who were otherwise waiting for the property rates to slash down post the rollout of several regulations and policy reforms but it also ushered in new opportunities for the builders to come back in the market.
Since affordable housing is the need of the hour, a plethora of builders are now launching new projects under the PMAY scheme, while some of them are on the verge of completion. When it comes to affordable homes, the first name that comes to the mind is Greater Noida West which is emerging as a hub of affordable housing projects in NCR.
Here are top reasons why Greater Noida West is the most preferred locality by investors:
Affordable Homes: Greater Noida West is a lucrative and the most promising investment destination in NCR. This new suburb boasts of several affordable projects under the PMAY scheme with excellent connectivity to Noida and Greater Noida, the reason why it is alluring the buyer’s attention more. With the recent Union Budget announcement, the demand for affordable homes is anticipated to surge more in the coming years. Greater Noida West is enclosed by several affordable and high-end under-construction projects by renowned builders. Since the area is in its developing phase the property rates are quite affordable in this locality comparatively to Noida.
Location Advantages: Another reason to invest in Greater Noida West is its connectivity. Adjacent to Noida and Ghaziabad this locality enjoys seamless connectivity to the prominent localities of NCR. Furthermore, it also enjoys seamless connectivity to DND flyway, NH24 and Yamuna Expressway. The UP government has passed a new metro plan that will connect prominent sectors of Noida such as sector 63, 66, 67 with Greater Noida West. This line once completed is anticipated to further improve the connectivity quotient of this locality.
Investment potential: Greater Noida West holds a huge potential for the future as it is currently in its developing phase. Considering the current pace of development here, according to the estimation of the experts it holds the potential to offer 10-15% returns in the time span of the next 2-3 years. Moreover, with the onset of the Aqua metro line, the localities along the stretch of this corridor are further anticipated to witness a surge in the property rates.
With the commencement of the metro line and FM announcement on affordable housing in its Union budget 2019 will definitely be a game changer for Greater Noida West’s realty market considering a large chunk of projects in this locality fall in the affordable segment. For those looking to invest in affordable projects in NCR, this is probably the right time to make a smart move.