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Is your city a part of the India’s real estate boom?
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kkinfrat
Noida (New Okhla Industrial Development Authority) in the NCR is emerging as the commercial real estate destination fast. It has recently out done Mumbai when it comes to land prices. If Reliance Industries made one of the biggest land deals by paying Rs 1.47 lakhs for a 75,000 sq meter plot in Bandra Kurla Complex in Mumbai, Noida's land prices has soared too.
The Noida Authority has auctioned a commercial plot of land for a whopping Rs 6 lakh per square meter; while 136 sq meter plot in Sector 18, the main commercial area of Noida, was sold for over Rs 8 crore, in an auction by the Noida Authority, which works out to Rs 6.11 lakh per sq meter. Much of the credit for this growing favoritism for Noida goes to the sealing drive and eviction of commercial properties in Delhi; as it is considered the major reason for such high prices, the expected arrival of the metro in Noida is another reason that have set the land prices in Noida soaring over the past one year.
The Noida Authority has auctioned a commercial plot of land for a whopping Rs 6 lakh per square meter; while 136 sq meter plot in Sector 18, the main commercial area of Noida, was sold for over Rs 8 crore, in an auction by the Noida Authority, which works out to Rs 6.11 lakh per sq meter. Much of the credit for this growing favoritism for Noida goes to the sealing drive and eviction of commercial properties in Delhi; as it is considered the major reason for such high prices, the expected arrival of the metro in Noida is another reason that have set the land prices in Noida soaring over the past one year.
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