Sec-16, Noida Ext emerging realty hotspot

Sec-16 in the Noida Extension is transforming into a bustling real estate destination, attracting both end users as well as investors Average property prices have reached slightly less than Rs 4,700/ Sq Ft, growing by 1.5% on a quarterly basis, as per the research by Axon Developers.  Over the last 8 quarters, average property prices have grown by 9.83% defying a general snag in the real estate market, the report by Axon further revealed.

“Sec-16 and its nearby region are emerging as a promising real estate destination, marked by growth in the job market, improved social and physical infrastructure, and better connectivity. The region also has plenty of affordable properties, which is further making it a sought-after destination in Noida and Greater Noida region,” said Ankit Kansal (MD and Founder- Axon Developers.)

There are numerous factors that are fuelling growth in sec-16. Firstly as a real estate destination, the entire Noida Extension region is on an upswing. Spread across a sprawling area between Noida and Greater Noida, the Noida Extension region is transforming into a residential, commercial and retail destination. Metro is set to enter the Noida extension region, which will further give a positive flip to housing demand. The region has a host of reputed real estate projects from developers such as Gaurs, ATS, Gulshan, Panchsheel, Keltech, etc. with many more in the pipeline.

Sec-16 is also getting greatly benefitted from the growing employment market in Noida. The region is witnessing a growing concentration of IT/ ITeS, electronic manufacturing enterprises, research & consulting companies, and start-ups, etc., which is fueling real estate demand.

Additionally, Sector-16 and its nearby region enjoy smooth connectivity with Delhi, Jewar, and other key nodes in the NCR. Through DND it is linked to Mayur Vihar. Likewise, via the Yamuna Expressway, it is cohesively linked to Jewar. As the work on the international airport in Jewar is moving at a fast pace, the real estate market in Sec-16 and its nearby region will further get a shot in the arm.

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“The region is also emerging as a viable investment destination. As property prices are on an upward trajectory backed by strong demand, investors can look into investing in the region. The rental yields are also attractive. A 3BHK can give a yield up to 2.9% annually,” added Kansal.