By: Riya Alka
Noida, once projected as the largest industrial town in Asia, is today one of the best location for residential purpose too in the Delhi-NCR region. It is also emerged as the gateway to the investors in Uttar Pradesh. New Okhla Industrial Development Authority, or better known as Noida only, was developed in the 1970s as a modern industrial city under the UP Industrial Area Development Act, 1976. Three decades later, the region today boasts of a complete makeover and looks nothing like the outcaste infrastructurally weak city it once was.
Industrially, Noida was, since conception, an advanced town. But what adds to the glamour of the location is the frenzied pace at which developments in its residential and entertainment sector has taken place, providing further impetus to its industrial growth. “I live in Sydney for the last 27 years and it was in 1982 that I purchased a piece of land in about Rs. 2 lakh. Though it was for an investment purpose, I could not even dream what kind of golden investment it proved to be, considering the current market price of Rs. 3 crore for that plot. Investment in Noida, though many advised against it that point of time, proved to be the wisest decision I have ever taken,” says an ecstatic NRI Rajesh Jain.
Rajesh Jain is now planning to settle in Noida. But he is definitely not alone in reaping the benefits of Noida’s phenomenal growth story. There are many like him who is reaping the benefits of once investing in this barren land zone. It was perhaps the industrial development in Noida that led many people to buy houses there and tapping upon this burgeoning demand. The real estate developers too read the pulse of the sand and launched very many projects to turn it into gold.
In fact, catching up with the extensive developments in Noida the developers launched apartments and duplexes to cater to the housing demands of both the locals and the NRIs. Many corporate are setting up base in the region and the workforce is willingly making Noida their home as well. With the MNCs and industries setting up base in Noida, the demand for flats and apartments has encouraged home builders to construct plush residential colonies and carry out swanky real estate projects.
Commenting on Noida, Prateek Gupta, a real estate broker who has been a part of the Noida realty development for more than a decade now, says he is quite proud of the development this region has witnessed in the last few years. “Noida was a barren land with just a few industries to its credit, but today people from Delhi and other NCR towns come here to look for homes and also for some quality entertainment options. The infrastructure has improved, law & order situation is much better, the roads are wide and well maintained, the water supply is getting better and a lot of institutions and industries have come up” said this Noida resident for close to three decades now.
Noida today is an important constituent of the National Capital Region. In fact, it has emerged as the second best option after the capital city of Delhi. Today it can boast of some of the most magnificent malls, architecturally brilliant buildings and lavish flats and apartments with amenities like swimming pool, club house, gymnasium etc. With some of the best hotels, malls, cinema, prestigious schools and universities, Noida today gives a tough competition to any city of international fame.
