Intelligent buying: Professionals keen to live near their workspaces

Today, Noida has become a hub of Hi-tech industries and has flourishing IT Parks and SEZ’s. Of late, these hubs are taking an urban turn with well-known developers offering residential properties and social infrastructure nearby.

Sheetal Sharma, a professional working in Noida Special Economic Zone (NSEZ) is planning to buy a house nearby. “With a monthly income of Rs 65,000, I am looking forward to settling down near NSEZ, set up by the central government.

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Noida SEZ located between Sector 81 and 106 is hardly 3-km from Noida Extension, offering ample residential properties suiting the requirement of buyers from all budget levels. “Because of the proximity of Noida Extension with NSEZ, housing demand from the middle class or mid income generating professionals, who prefer to stay close to their office, has risen,” says Punit Marwaha, property consultant, Krishna Properties & Builders.

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“Majority of demand is raised by the migrant working population in the SEZ, who pursue work opportunities in the area,” says Sunil Mishra, owner, Shubham Properties.

Just like Sheetal, Mayank Gupta, working in the IT Stellar Park, Sector 62, Noida, wants to buy a house near his office. “My main objective is to live near my present office in Sector 62, so that I do not have to travel much and am able to avail all facilities. Further, if in future I change my job to any other location then travelling within Noida or to Ghaziabad and Delhi from my home will be easy.”

Search for better working opportunities and livelihood has drawn attention of many towards the national capital and the NCR. Witnessing rising property demand, developers have come forth with residential spaces near work zones. With this, the social infrastructure has also been developed in these areas. Availability of affordable to luxury houses at a comfortable location from office spaces has resulted in opportunities for professionals of all budget levels to buy a house of their own.

So what makes professionals like Sheetal, Mayank and many others prefer to stay near their work zones? Increasing development of SEZ’s, IT Parks and MNC’s at strategic locations and surrounded by well developed social infrastructure has been consistently drawing the attention of buyers. “What else does a home buyer wants, apart from the home close to the office, public transport, shops and schools at walking distance. All these factors are easily met by the work zones of Noida,” adds Mishra.

Infrastructure and connectivity

Unlike Sector 62, NSEZ is still in the developing stage but the area is rich in social infrastructure with hospitals, banks, schools and markets. “Most of the professionals working in NSEZ have their own vehicles, however, frequent bus service and autos are the affordable means of transport,” adds Marwaha. Express Highway directly connects the area to Delhi, while the Dadri Main Road gives connectivity to Indirapuram and Ghaziabad.

Sector 62, one of the established sectors of Noida, has a mix of commercial and residential spaces. It has malls in close vicinity, commercial area of Sector 63, bustling market of Sector 18, schools and many hospitals.

Prices

As per Magicbricks data, the average price of a 3BHK apartment in Sector 62 is Rs 45 lakh to Rs 1.50 crore for a 1200-2400 sq ft size property. For a 2BHK unit, the average values range between Rs 30 lakh to Rs 1 crore with sizes of 900-1422 sq ft.

Noida Extension offers a number of options for residential properties. For people working in NSEZ and looking for a 3BHK unit of area 1365-2400 sq ft, it costs between Rs 40-86 lakh. A 2BHK is available in the locality at a starting value of Rs 30 lakh.

Pushpa Rawat, Magicbricks.com Bureau

Pushpa Rawat is a real estate market research enthusiast with a penchant for reporting on emerging real estate and infrastructure trends. She currently works with Magicbricks editorial team.

Source:http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/intelligent-buying-professionals-keen-to-live-near-their-workspaces/74689.html