The Noida Versus Gurgaon Debate
The debate around which one is a better choice for investors and homebuyers, Gurgaon or Noida, is never-ending. While the former real estate market scores better on some parameters, the latter scores better than the former on other parameters.
Let us look at how different or similar the two prominent property markets in the national capital region are.
Infrastructure & safety
These two cities offer similar social infrastructural to residents. From International schools to best of healthcare providers, from great job opportunities to world-class public amenities, Noida and Gurgaon both provide you everything. Both of the regions boast excellent lifestyle as these are hubs to some of the multi-national companies and have high-paid, office going crowd as citizens who have enough disposable income to spend on leisure and entertainment.
With its shopping complexes, marketplaces, multiplexes, high-end restaurants, Gurgaon is the hub of malls where the cost of living is more than Noida. On the other hand, Noida is still developing to attract the young population as it is more affordable and have decent budget options for fulfilling lifestyle needs. Recently, places like Gardens of Galleria and DLF Mall of India have marked their presence in Noida which is transforming the image of the place from being meek to happening zones of the NCR.
However, a lot more needs to be done in Gurgaon as well as Noida to make them safer. While most housing projects in Noida are gated communities, the security assistance in Gurgaon is limited to apartment projects. The internal roads are poorly lit in Gurgaon which makes it difficult for the residents to move after dark. Noidascores better when it comes to street lighting and night patrolling of PCR vans. According to Numbeo.com, the crime index of Gurgaon is higher than Noida and it has been increasing in past three years at a high rate than Noida.
When it comes to drainage and sewage facility, Noida is better placed. The poor drainage system has resulted in a flood-like situation in 2016, and the entire traffic came to a standstill in Gurgaon for 12 hours. The situation is no different today. The internal roads are poorly constructed, and premium hotspots such as Sushant Lok are a case study in itself as properties commanding crores here oversee potholed roads.
Noida and Gurgaon both are connected via the Metro network to main hubs of the national capital. However, the intra-connectivity of Noida is much better than Gurgaon. The Metro is being extended further and would cover Noida Expressway and Greater Noida. An alternate route to Gurgaon from Noida is also almost ready for operations that would save almost 40 minutes of a daily commute. Apart from this, bus services, shared public transport, battery rickshaw are popular mediums of travelling in Noida which are cheap as well as frequent.
In Gurgaon, Huda City Centre is the last station on the Metro route, beyond which the only way of travelling is either cab or autos. Buses are too crowded due to poor frequency. The Rapid Metro connects major commercial areas of Gurgaon to the Yellow Line of the Delhi Metro. Other than this, for road connectivity, the DND Flyway remains a popular route for those plying towards South Delhi. Flyovers and underpasses are being constructed at various intersect to cut congestion during peak hours. One of such is being constructed near Sector 18 till Sector 62 for a faster commute. Gurgaon, too, is witnessing better road infrastructure development. The Southern Peripheral Road and the Dwarka Expressway are two prominent infrastructures coming up in Gurgaon. Multiple flyovers and underpasses are being constructed at congested crossings such as Vatika Chowk, Medanta Hospital, Atul Kataria Chowk, etc. Moreover, Gurgaon is comparatively close to the Delhi Airport whereas Noida lies in proximity to Anand Vihar ISBT, Hazrat Nizamuddin Station as well as the New Delhi Railway Station. The Jewar Airport is still under planning which lies on the Yamuna Expressway.
Returns on investment
Noida is a hub of affordable housing whereas Gurgaon is the hub of jobs. There are more jobs in Gurgaon as compared to Noida. Therefore, the rental returns in Gurgaon are higher. The demand for smaller units in the area for renting purpose is unending. Not just those areas which are close to offices but the one within 7-km radius remain popular among office goers. Popular areas for investing to earn rental income are Sector 41, 48, 49, 50, 53, 54, 57. The average rent for a 3BHK in any of these localities is Rs 30,000 per month while for a 2BHK you can earn up to Rs 25,000, depending upon the furnishings you are providing. For Noida, the rental returns are comparatively less. Popular areas such as Sector 15A, 19, 27, 41, 50 have independent houses but have decent Metro connectivity. These are preferred by bachelors and young couples. Sector 51, 74, 75, 76, 78, 91 and other areas close to Noida Expressway have apartment projects but offers low rental returns. The Metro line is still underway and would be ready to use in next two years. This is the reason the scope of price appreciation is way more in these areas as compared to any other locality across NCR. A 3BHK house would fetch Rs 18,000 per month while a 2BHK apartment would garner utmost Rs 15,000, depending upon the furnishing and area.
Noida and Gurgaon both have a number of new properties to offer across the budget range. Noida Extension, Greater Noida and other newly built sectors of Noida have a number of ready to move projects available at an affordable cost. There are over 700 projects in Noida out of which over 250 are ready to move and 300 are under construction. The average rate of 1BHK is Rs 24 lakh, 2BHK is Rs 40 lakh while for a 3BHK, it is Rs 70 lakh.
According to PropTiger.com, there are over 900 projects in Gurgaon, out of which more than 500 are ready to move in while approximately 300 are under construction. The average price of 1BHK in Gurgaon is Rs 50 lakh, Rs 78 lakh for a 2BHK and Rs 1.44 cr for a 3BHK unit.