Factors such as good inventory supply, infrastructural growth, connectivity, upcoming Jewar International Airport have made Noida an attractive investment destination.
Noida, called as industrial town of Asia, has witnessed immense interest from investors, start-ups, big business houses and even PSUs. It is growing at a faster pace as compared with its peers like Vaishali, Faridabad and Indirapuram. The upcoming airport at Jewar (Greater Noida) will be a boost to tourism and economy of the region. These varied investment options make the Noida attractive among even NRIs.
Most of the NRIs seek to return to their homeland in India in the last phase of their lives and own a dream home.
Let us check out a few reasons that attract NRIs towards the Noida real estate market:
- Commercialisation: India is growing as a commercial hub and Noida, in particular, has fast transformed into a commercial centre. The economic growth in India is surpassing each year’s numbers, and as a result, there is a high demand for commercial office spaces. These commercial properties located in and around the Noida are also booming a demand for office localities. With rising FDI and foreign companies establishing in Noida, NRIs now have a high demand for housing as well as office spaces here.
- Rental Income: NRIs mostly prefer investing in a property in which they can sit back and enjoy the appreciation benefits and rental income. Even a small unit of property in Noida can fetch in the form of rental income. Noida is highly dense in population, and there is no end to the demand for rental space in the city. Those NRIs who do not immediately look forward to shifting back to India can avail the benefits of renting out their estate property for the meantime.
- Rs 20,000 Crore Sanctioned for Greenfield Airport at Jewar: The Aviation Ministry has granted an approval to an investment of about Rs 20,000 crore for an upcoming airport at Jewar in Greater Noida, adjacent to Noida. In the coming next decade, the airport is expected to cater the requirements of 30-50 million passengers. There is a need of 2nd Airport and the Upcoming Jewar has gained the attraction of non-resident Indians to make out a significant investment in the region.
- Long-Term Capital Appreciation: Property prices in Noida have seen an escalation in the past few years, depicting a phenomenal growth in the real estate market. India’s property market is expected to be worth a $180 Billion by the end of 2020 as per Cushman, and Wakefield reports. Therefore, NRIs with money to spare for a lock-in period of a few years avail great benefits by the skyrocketing prices.
- NRI centred projects: To promote investment from NRIs in Noida real estate, real estate developers have also been coming up with NRI centred real estate projects. These projects feature deals and discounts exclusively tailored to cater to the needs of NRIs. The posh localities in Noida are no less in comparison to abroad localities, and this is why it is garnering attention from investors from outside India. Infrastructural projects undertaken continuously by the state government have transformed the city into a modern as well as an eco-friendly city. State of the art amenities and well-designed road networks of the city are the main reason why Noida has established its reputation as a modern city.