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Noida Extension, top choice of techies, first-home buyers

Priya Singh | 2024-04-15

The area, also known as Greater Noida West, is gaining popularity because of affordable units, proximity to economic hubs and wide roads.
The order issued by the Authority on September 6 said only those apartment owners who bought the flats from the Authority in its flat schemes but could not pay the amount will be eligible for the OTS scheme.
Ashutosh Singh, a 36-year-old IT employee at a multinational company, bought a two-bedroom flat in Noida Extension after leaving his rented apartment in Noida’s Sector 50 a few months ago.
He picked Noida Extension, also known as Greater Noida West, over central Noida and the Noida-Greater Noida Expressway because of its proximity to his office, better presence of commercial and retail hubs such as malls and high street markets, and affordable property prices.

Singh is not alone and is among several techies or IT professionals who are choosing Noida Extension to own or rent a home.
According to experts, Noida Extension has emerged as one of the fast-growing real estate micro-markets in the National Capital Region after the pandemic. It is located close to IT hubs and manufacturing units, making it a popular choice for first-time buyers and professionals, especially techies.
Noida Extension has a dedicated sector – Techzone IV – for tech companies, IT parks and data centres. Several IT companies have their presence here. The area is well-connected with IT hubs along the Noida-Greater Noida Expressway, so it is ideal for IT professionals,
research at ANAROCK Group, said Noida Extension is gaining popularity as a residential destination for reasons including affordable units, proximity to economic hubs and wide roads. The micro-market offers relatively affordable two- and three-bedroom units as compared to other parts of the NCR.

“This has attracted the middle class and first-home buyers. New project launches by several renowned developers have also enabled improved traction of residential real estate,” Chowdhury told Moneycontrol.

Priya Mishra, an IT professional, said she bought a flat in Noida Extension a few months ago because of its accessibility and affordable prices.

“My office is on the Noida-Greater Noida Expressway but properties are priced higher there. A 2BHK unit in a good society in sectors along the Noida-Greater Noida Expressway costs between Rs 80 lakh and Rs 90 lakh, while in Noida Extension you may get the same unit for Rs 55-70 lakh. The area is also not located very far from my office and has good roads,”