Gurgaon vs Noida…if ten years ago somebody would have asked, ‘where do you want to invest in Delhi NCR, Gurgaon or Noida?’ There wouldn’t have been any debate because you would have chosen ‘Gurgaon’. It was the obvious choice. It had the jobs, the corporate campuses, the infrastructure and a reputation that made it feel like a different city altogether compared to the rest of the region.
On the other hand, Noida was also fine. It was affordable and had decent connectivity but it was never anyone’s first choice. Now, you will be surprised to know that this dynamic has changed. If you want to invest in a property in Delhi NCR, you will no longer be able to ignore Noida.
The rise of Gugaon
The rise of Gurgaon happened due to corporate demand. Multinational companies wanted to setup their offices in a place that was closer to Delhi and Gurgaon was certainly that place. Offices bring people (professionals), people need housing, retail etc and that’s how everything followed and Gurgaon became ‘India’s Millennium City’. Well known for its high rise skyline and rapid industrialisation. As companies moved in and people arrived the prices increased and Gurgaon became NCR’s premium address. But Gurgaon is not ‘perfect’, we can say that it is ‘imperfectly perfect’ because of the severe environmental and infrastructural challenges it faces. Flooding during monsoons, water supply issues and severe traffic are one of the biggest drawbacks of this region.
What’s different with Noida
Noida is truly a well planned city. The roads are wide, there’s greenery, the sectors and the development approach are organised. It is widely said that Noida neither grew nor attracted people like Gurgaon did. But that’s clearly changed over the last five years.
The reports suggest that the property prices in noida rose from Rs 4,800 per square foot in 2020 to Rs 9,200 per square foot by 2025. That is almost twice as much in five years, surpassing Gurgaon’s price rise over the time. Greater Noida went in similar direction as well. Also, the Greater Noida Expressway Corridor has now become an important commercial area. There are increasing number of businesses setting up offices here and just like I said above: When employment increases, so does the demand for housing. Noida is currently experiencing the same story that Gurgaon once did.
The Jewar Airport
The main reason due of which people changed their perspective towards Noida is the newly constructed Noida International Airport near Jewar. It is said that airports are the economic anchors. They bring companies, logistics, hotels and an entire ecosystem of activity drawn to them. Also, the areas around the airports do not remain underdeveloped for a long period of time.
It’s been reported that initially, Jewar will accommodate 12 million passengers in a year and the long term capacity is expected to be far more bigger than this number. The Yamuna Expressway which is directly connected to the airport site is already seeing buyer interest. Before the airport becomes fully operational, buyers want to get in to get the maximum benefits.
Noida is not just limited to affordable housing
A few years ago when people talked about Noida, they could only connect the place with mid range housing. But this point of view evolved. Noida is seeing a decent number of premium and luxury projects being launched in the area. Noida Sector 150 is a popular example. It provide larger floor designs, low density living and lush green surroundings that are very hard to find in Gurgaon in the similar price range.
Buyers from Delhi and Gurgaon are now interested and want to invest in Noida. It’s not because they cannot afford Gurgaon, they can but Noida is offering better space, the planning is also great and the region has higher value potential.
Has Noida overtaken Gurgaon?
If I say that Noida has overtaken Gurgaon…it would be wrong. It hasn’t. The corporate environment in Gurgaon is huge and also it is well established. The region has advantages that take decades to develop. The establishment of these many large corporations, the luxury residential market and its closeness to the international airport.
Gurgaon is the most sensible choice for professionals working in Cyber City or along the Golf Course Road. Noida is still trying to develop established addresses and strong resale markets.
Gurgaon Vs Noida: Which city should you consider?
Coming back to where we started: Gurgaon vs Noida….where should you be investing? It would be appropriate if I say that both of these areas are not competing for the same buyer category.
Gurgaon is a great choice for buyers looking to invest in a place that has an established market, rental demand and developed luxury market.
On the other hand, Noida is best suited for buyers so are comfortable investing in a market that is still under development but at a significant pace. The airport, the expressway corridor, and the lower prices as compared to Gurgaon: all these aspects make Noida a wonderful choice for people who are willing to look a few years ahead. The right choice depends upon your goals and patience.