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Gurgaon Vs Noida

by Vineet 25-Jul-2013

If you are looking to invest in a property, what is a better destination – Gurgaon or Noida? This is one debate that people in Delhi-NCR love to indulge in (irrespective of price difference in both places) and one likely to have a closure.
Well, the property market did take off early in Gurgaon compared to Noida, the reasons being an open policy and higher FAR in Gurgaon. “Cheaper land cost was favourable in Gurgaon which opened the market for developers as well as consumers, whereas in Noida, developers needed to pay additional service tax on purchase of land,” pointed out Rakesh Yadav, MD, Antriksh Group at the Real Estate Dialogue (RED) on ‘Assessment of Consumer Demand’ held by Magicbricks.com.
Interesting observations on the real estate development (past and future) in Gurgaon and Noida was observed at the meet. “It did take time for Noida to evolve as a real estate destination, but today, there is more timely delivery in Noida than Gurgaon,” debated Yadav.
Vineet Gupta, Director, Ajnara India cited the fact that proximity to the Indira Gandhi International Airport gave Gurgaon an edge over Noida. Established IT offices and commercial centers in Gurgaon drive the real estate of the city.
Neeraj Bansal, Director, Real Estate & Partner- Risk Consulting, KPMG, said: “Many planned townships and colonies in Gurgaon are much in demand as the entire city is undergoing a tremendous planned change.”
If proximity to the airport and concentration of MNCs augmented sale in Gurgaon, infrastructure and affordability (property in Noida is Rs 30 lakh onwards) made Noida a preferred residential choice.
Sanjay Sachdeva, Executive Director, Advance India Projects Ltd, stated, “Though Gurgaon is witnessing a plethora of construction activities which is higher than other NCRs, the quality does not match the quantity.” When evaluated against Gurgaon, Noida has more quality based projects.
Bansal said: “It is a common perception that Gurgaon offers improved and quality lifestyle.” Though in reality the amenities offered in both the cities is almost the same, yet somehow Gurgaon is seen better off.
The property market of any place is driven by pricing. Deepak Kapoor, Director, Gulshan Homz opined, “Gurgaon is identified as the luxury property market with property prices soaring over values in Noida. Noida is considered mostly for end users while Gurgaon is investment driven.”
 

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