Real estate in Noida is set to witness a global level transformation with the infrastructural goal to create replicas of Korean and Japanese cities. The Yamuna Expressway Industrial Development Authority (YEIDA) recently marked two sectors of Noida for the establishment of miniature versions of these unique cities, with the acquisition of hundreds of hectares of land.
As per the latest media reports, the development of these two regions in Noida would require an estimated investment of more than Rs 2,500 crore. Notably, this project will offer a range of facilities to all the Noidians, including premium housing developments, schools, hospitals, shopping complexes and what not.
Japanese & Korean Cities Will Attract Foreign Investments
Located just 10 kms away from much-awaited Jewar International Airport, these cities are poised to enhance connectivity in Noida. Moreover the two areas are expected to serve as a major hub for all the major electronic manufacturing units set up by companies from Japan and Korea.
Owing to their top-notch infrastructure, reliable power supply, and modern amenities, Noida and Greater Noida have become two of the most favourable destinations for foreign companies. This offers a lucrative opportunity for investors across the globe while also promising direct benefits for residents due to the anticipated acceleration of development in the region.
Speaking of Korean and Japanese cities, for homebuyers and investors, the allure of owning property in these culturally rich and technologically advanced cities will be hard to resist. The promise of world-class amenities, efficient transportation networks, and vibrant community spaces is expected to drive demand for real estate in the region, thereby boosting property values and rental yields.
Huge Growth Potential For Real Estate In Noida
The upcoming cities will surely help kick-start more real estate developments across all verticals in Noida and Greater Noida, including commercial, hospitality, retail and housing projects. As the influx of both domestic & international conglomerates rises in the city, the demand for retail zones and office spaces is also expected to see a new benchmark.
The future looks promising for real estate in Noida as multiple golden opportunities are arising in both commercial and residential real estate sectors in these evolving circumstances. While the Japanese city will be built in Sector 5A of the Expressway, the Korean city is set to be established in sector 4A.
Both the sectors will have mixed land use, with 70% of the land provided to core industries and 13% for commercial purposes only. In addition to this, 10% of the land will be allocated to residential projects while 5% for institutional use such as building hospitals, schools, and colleges.
The remaining 2% will be used for developing other facilities in the areas. Several real estate experts believe that these two regions will create a thriving ecosystem with modern amenities for a strong economy.
From a commercial standpoint, the emergence of ‘Japanese’ and ‘Korean’ cities is likely to attract a diverse array of businesses and industries to Noida. With state-of-the-art office spaces, exquisite infrastructure, and emerging manufacturing hubs, these cities will serve as magnets for companies looking to tap into the growing Indian market.
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