Property in Greater Noida is one of the best next choices given to its location because of excellent connectivity, pollution free environments and the great potential for developments. To begin with, The attention of Property Builders has directed to Noida and greater Noida location looking for the other beneficial choices in order to get long term benefits and help furnish to the excellent arrival of population in the region because of the Real Estate Property Prices in the city have skyrocketed.
Having been a commercial and educational center, Greater Noida is also going to become a place for tourism entertainment like night zoological park which will be fourth biggest park in the world after Singapore, China and Thailand. A silent Train will be available to run across the park to enjoy seeing nocturnal animals in the zoological park for visitors. So, Greater Noida will become the biggest infrastructural growth in the upcoming years. Universities like Noida International University, Gautam Buddha University, etc. have already set up their camps in Greater Noida.
As the tourist attractions going live, The Investment in Real Estate Property in Greater Noida assures best returns in the upcoming years. Greater Noida is being planned to be a big place to work and live because the demand of the property should be good in the long run. The modern infrastructural development like an international airport assures an increase in Prices of Real Estate Property in Greater Noida.
Actually, Investors and the real estate players are set to reap advantages with the Yamuna Expressway. Over 100,000 Flats is being brought by various Real Estate Players in the region. The Growth of Real Estate in Greater Noida and Yamuna Expressway went bust. Rs.4, 000 Crore to Rs.5, 000 Crore is being invested by Property Developers in the region. The Real Estate Property in Greater Noida, Noida and Yamuna Expressway have gotten expensive. The revised rates will come into effect soon.
With the operation of the new residence policy, when the lands will be available for freehold then those people who have purchased or are willing to purchase apartments, flats or plots from the developers or the authorities could be the owners.
In accordance with the urban policy, there will be available two types of land ownership that is Freehold and Lease Hold. Freehold property, ownership is for the continuity where as in leasehold it is for specified duration which can range between thirty years and a hundred years in General.
In Delhi, up to 2008 collected land of the 82, 948.84 acres in which 75, 609.84 acres of land has been assigned to residential, commercial, institutional, industrial, green areas and infrastructure properties.
First, the entire of the land was given to end users on lease, with the authorities been paying ground rent but all these are being transformed into free hold. As the authorities are encountering an uphill job in understanding the deals with thousands of cases unsettled in the government departments. So the DDA determined that except institutional and commercial land, maximum of the land should be freehold.
It is highly likely that the residence policy from lease to free hold will also be transformed into the other NCR cities such as Faridabad, Gurgaon and Ghaziabad. The Uttar Pradesh government has followed this experience and determined to follow.
Influence of the proposed land ownership policy:
A single buyers, also developers are not the confirmed owner of the real estate property on which they have invested a lot of money in establishing buildings and growing physical infrastructure such as roads and sewerage. According to the actual lease policy, apartments and plots are sublet by the authorities to users. From the documents provided by development authorities in Noida, almost Ten thousand hectares already developed of an absolute of 20,316 hectares.
In accordance with the master plan of Yamuna Expressway Authority, The rest area will be constructed in the next phase. 50, 000 hectares are being constructed in phase 1 of all over of 2, 30, 000 hectares for the residential and commercial intentions.
In Property in Greater Noida, forty nine and seven percent out of thirty six thousand hectares have been constructed for Residential, Commercial and Industrial development. In the next three years, nearly 2.5 lakh new houses will be constructed along the expressway and adjacent to Noida Extension according to the master plan 2031 of the Noida Authority. Whereas almost 1.5 lakh houses are being developed alongside the expressway under group housing properties. The rest 1.5 lakh houses have been proposed near Noida extension.
After once land ownership proceeding, many property buyers, builders and also the development authority will be in benefits.
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