Judging from a real estate standpoint, both Gurgaon and Noida have their unique set of advantages and disadvantages. Delhi NCR is considered to be a goldmine for property investment. However, as Delhi has been noticing high costs for many, most individuals are attracted towards NCR for property purchases. Both of these areas have their pros and cons in terms of connectivity, infrastructure, quality of living and real estate demand and supply.
As Noida is one of the largest planned cities in Asia, Gurgaon, on the other hand, has seen immense development in shopping complexes and IT/ITeS sectors in the city. Residential projects such as Migsun Golfiana and Migsun Vilaasa are among the best projects in Noida that provide a great luxurious living. Thus, these cities have not only attracted end-users but also investors from around the world.
However, the discussion over which area provides the best property in Noida is a never-ending topic. Most realty experts believe that in the upcoming years, the competition between these two markets will intensify even more. Therefore, the following points are some of the key factors that tell which area is better for investment:
Noida has seen great development compared to Gurgaon due to large deals in the past few years. Paytm and Microsoft, for instance, have leased around 5.20 lakh sq ft and 1.50 lakh sq ft. With this, Yes Bank also signed a deal for around 70,000 sq ft of office space. From residential to commercial properties in Noida, the place is emerging to be an ideal location for setting up data centres in North India.
However, Gurgaon, on the other hand, had a large office space registration despite the pandemic. Recently, the Haryana Government proposed the Real Estate (Regulation and Development) Act, 2016, to construct new flats. With this, almost Rs 3 Lakh crore investments were brought into the real estate business. Gurgaon still needs to invest in most of its civic and physical infrastructure, such as drainage and roads.
Geographically, the National Highway (NH) 8 connects Gurgaon with Delhi on one end, while Jaipur is on the other. Once the project is completed, the Northern Periphery Road (NPR) would also provide an efficient connectivity route to Delhi via Dwarka. Furthermore, the eight-lane expressway project is also likely to impact real estate in Gurgaon, Delhi and other parts of the NCR. Not to mention, Gurgaon saw positive growth in the real estate market as the Northern Periphery Road construction started in 2009.
Noida, on the other hand, is connected to Delhi and Ghaziabad via expressways. In addition, the Yamuna Expressway connects the city to Mathura, Agra and beyond. However, the Noida-Greater Noida Expressway is considered to be a major thoroughfare. The expressway shares vital connectivity with the people that travel from Ghaziabad and Noida. Furthermore, it will also provide easy access to the upcoming Jewar Airport and Film City on Yamuna Expressway.
While considering metro connectivity, Noida has the upper hand. The Noida Metro is the second metro system in NCR, while Delhi Metro is the first. Further extension of the Aqua line of the Noida Metro would connect with all the Noida and Greater Noida sectors, which will certainly enhance the livability index.
However, Gurgaon is currently functional only till Huda City Centre, and it also consists of a private metro (Rapid Metro Gurgaon). There are many sectors in Gurgaon that are still unconnected due to a lack of planning. However, Gurgaon is a part of the Master Plan 2031, and its implementation would take almost 4-5 years.