Positive developments are finally emerging for those who invested in Noida Extension back in 2009-2010. Originally purchasing properties at an affordable rate between Rs 1,800 to Rs 2,200 per square foot, these investors have demonstrated remarkable patience despite encountering extensive challenges related to land acquisition and other complications. It now appears that these hurdles have been addressed, signaling new opportunities for this property market.
Currently, about 3,000 families have already relocated to this area, and by year-end, that number could reach as high as 50,000. The location enjoys excellent connectivity to NH 24 and Noida, making it highly desirable. By the conclusion of 2019, it is projected that this locality will house up to three lakh apartments.
Amit Modi, director at ABA Corp and vice president of Credai Western UP, remarked, "We expect to get the completion certificate within a week’s time." His company’s Cherry Country project consists of 1,793 units, with 1,240 ready for possession next month. Modi further announced, "We will be launching another project called Coco County in August this year, which will feature 900 apartments spread across five acres. This project will be located in Sector 10, Greater Noida West, with expected prices around Rs 3,500 per square foot."
Manoj Gaur, managing director of Gaursons, mentioned, "Gaursons has launched 5,000 new apartments in the area. Even in a dull market, 800 units have been booked." Additionally, another recognized developer plans to introduce 500 new apartments this year, offering 3BHK and 4BHK units exceeding 1,600 square feet. Gaur emphasizes, "The location is good and is more or less established."
Real estate experts suggest that Noida Extension presents a more attractive investment alternative when compared to the Yamuna Expressway. The sales in this area are primarily driven by end-user demand and have immense potential as a livable micro-market—especially given the affordability factor, with prices starting at Rs 3,200 per square foot in contrast to the Rs 4,500 per square foot range in sectors 78 or 150.