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Real Estate: Developers target new hotspots in Noida region

Priya Singh | 2023-10-12

Jaypee townships in Noida and Greater Noida are attracting developers despite the company's insolvency and the wait for home deliveries by over 20,000 buyers. Companies such as Max, L&T, Gaurs, Saya, Paras, and Gulshan have purchased land worth Rs 3,000 crore and initiated projects with revenue potential exceeding Rs 10,000 crore.
Land parcels part of Jaypee townships in Noida and Greater Noida have become a drawcard for various developers even as over 20,000 homebuyers are waiting for delivery of their homes due to the company's insolvency.

Over the past year, companies such as Max, L&T, Gaurs, Saya, Paras, and Gulshan have purchased land valued at Rs 3,000 crore and initiated projects with revenue potential exceeding Rs 10,000 crore.
While Noida has always enjoyed excellent infrastructure, it has now become very attractive due to a significant improvement in governance and the law-and-order situation. This has led to a quantum jump in demand for upper-end and luxury residential developments," said Gaurav Kumar, Managing Director, Capital Markets and Residential Business, CBRE India.

"With the expected opening of the Jewar airport and the UP government's push to attract private sector investment, we expect a continued increase in the city's intrinsic potential for urban development. The Noida story has finally come of age," Kumar said.

"While Noida has always enjoyed excellent infrastructure, it has now become very attractive due to a significant improvement in governance and the law-and-order situation. This has led to a quantum jump in demand for upper-end and luxury residential developments," said Gaurav Kumar, Managing Director, Capital Markets and Residential Business, CBRE India.
With the expected opening of the Jewar airport and the UP government's push to attract private sector investment, we expect a continued increase in the city's intrinsic potential for urban development. The Noida story has finally come of age,