NOIDA, the largest industrial town in Asia, has apartments and duplexes to cater to the locals and the housing demands of booth the locals and the NRIs, says Rai Umaraopati Ray.
New Okhla Industrial Development Authority, or NOIDA, was development in the 1970s a a modern industrial city under the UP Industrial Area Development Act, 1976 Three decades old, the region today boasts of a complete makeover and looks nothing like the outcaste, infrastructurallyweak city it once was. Industrially, NOIDA was, since conception, an advanced town, but what has left the country dazed is the frenzied pace at which development in its residential and entertainment sector has taken place, providing further impetus to its industrial growth.
REAPING PROFITS
"I have been living in london for last 30 years and it was sometime in early 1980 that I purchased a piece of land in NOIDA for some Rs 2 lakh. That piece of land, which was bought merely as an investment option, today stands at Rs 3 crore and is perhaps the simply unbelievable and I am sure there must be many like me who are now reaping the benefits of once investing in this barren land," says Vinod Shukla, an NRI who is planning to settle in NOIDA.
FULFILLING DEMANDS
It was perhaps the industrial development in NOIDA that led many people to buy houses there and tapping upon this burgeoning demand, the builders turned sand into gold. In fac t, owing to extensive property development, NOIDA, the largest industrial town in Asia, has apartments and duplexes to cater to the housing demands of both the locals and the NRIs. Many corporates are setting base in the region and the manpower working in these have made NOIDA their abode. Numberous MNCs and industries are attracting the youth from all over, resulting in sky-rocketing rates of rented accommodation. Owing to the influx of many working professionals, in NOIDA, the demand for flats and apartments has encouraged home builders to construct plush residential colonies and carry out swanky real estate development in NOIDA.
Alok Sinha, who has been a part of the NOIDA realty development for almost a decade now, is puite proud of the develoment 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 town come here to look for some posh entertainment option. The infrastructure has improved, the roads are broad and maintained, the water supply is getting better and a lot of institution and industries have come up. The NOIDA of the yesteryears is history," says this real-estate veteran.
ADDING FEATHERS
NOIDA today is an important constituent of the national Capital Region as it boasts of some of the most magnificent malls, architecturally brilliant buildings and lavish flats and apartments with amenities like swimming pools, club house, gymnasiums etc. In fact, projects like Radisson Hotel, along with other hotels in NOIDA, the Waves Cinema, prestigious schools, universities like Amity, and malls which can put international shopping places to shame, are numerous feathers sitting proudly in Noida's cap.
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 SOME POSH ENTERAINMENT OPTIONS. THE INFRASTRUCTURE HAS IMPROVED, THE ROADS ARE BROAD AND MAINTAINED, THE WATER SUPPLY IS GETTING BETTER AND A LOT OF INSTITUTIONS AND INDUSTRIES HAVE COME UP.
COURTESY:HT ETATES HOMES Friday, February 29, 2008
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