The Delhi NCR region has been the preferred choice of real estate developers and buyers for over a decade. Delhi’s saturation in terms of real estate and the consequent rise in property prices in Delhi caused many to move to the outlying areas of the capital.

Nearly two decades ago, Gurgaon witnessed a real estate boom. Now, it appears that Noida, Greater Noida, and Ghaziabad are undergoing a similar transformation. Many real estate companies are investing in these places in order to take advantage of the enormous potential of this market.

The Greater Noida Industrial Development Authority (GNIDA) is reportedly planning to connect Greater Noida and Indira Gandhi International Airport via a metro link. There are also widespread reports that the Delhi Metro Rail Corporation plans to extend the Blue Line from downtown Noida to cover parts of Greater Noida. These are clear signs that Noida and Greater Noida are poised to become the most popular destinations for people looking for dream homes and luxurious lifestyles at affordable prices. The good connectivity factor is the jewel in the crown.

Having sensed the residential and commercial opportunities that abound in places like Noida, Greater Noida, and Ghaziabad, major and minor real estate companies are expanding or launching their projects in these areas to attract clients from different strata of society. Such projects include sprawling mansions spread across acres of lush green gardens, luxury condominiums that house clubs, swimming pools and gyms, modest 2 and 3 BHK housing complexes, or entire municipalities provided with all the amenities of a world-class city. The many well-known construction companies based in Noida and Ghaziabad are diversifying into all kinds of real estate companies. While many of these condos and apartments have already been built and even occupied by their respective owners, there are dozens more under construction and many still in the planning stages.

Noida and Greater Noida have especially witnessed an increase in supply and demand for luxury condominiums and housing units, due to their relatively affordable prices compared to apartments provided with the same amenities in the heart of Delhi. Several big names in the Delhi NCR real estate industry are investing in projects like these, hoping to capitalize on their growing popularity.

The year 2013 has been somewhat disappointing in terms of investment for the real estate market in India. Regardless, the arrival of an industry-friendly government in the center this year, coupled with an economic slowdown in the recent past, sparks hope that the government will pull the real estate industry out of its current dormant state. There is also the hope of the inevitable that a sadness will be followed by a glut in the market. In fact, the hopes and spirits of real estate companies are justifiably high, as the future of this industry looks bright and optimistic.