Ever since the turn of century, Noida and Gurgaon have been in the reckoning for the top spot as prime satellite towns of Delhi. Both the cities benefited from the spill over growth from the capital and presented excelled business environment for growth of industry & commerce.
The growth charts and positioning of the two cities have been a bit different. While Gurgaon emerged as a hub for major corporates with a good blend of companies in Auto, BFSI & IT, Noida largely capitalized on the cost-conscious IT/ITeS occupiers for major part of the last 20 years. In the residential segment as well, Gurgaon positioned itself as a premium residential hub with developments around MG Road, Golf course Road, Golf Course extension Road. The premium quotient of residential developments in Gurgaon was also amplified by the low permissible density of development, its positioning and proximity to high-end area of South Delhi and presence of high-end employment opportunities within the city.
Fast forward to 2020, Noida is witnessing a change in the trend, which is evident in the increasing preference of occupiers for location to the city, ever improving infrastructure even to last mile and improvement in law and order. The upcoming airport is also expected to balance out some bit of advantage that Gurgaon has enjoyed over Noida on that count.
Noida also fares better on some of the key parameters of infrastructure such as last mile connectivity. Contrary to Gurgaon, Noida is a city where infrastructure precedes development, while in Gurgaon, new sectors still score low on the basic infrastructure. Noida has also fared better in taking metro connectivity across different sectors of the city, thus providing connectivity to a larger population base.
In terms of housing options, what Noida offers is a wide range of options to buyers of all segments, with comparatively lower ticket sizes for organized modern housing as compared to the corresponding ticket sizes in Gurgaon, thus making it a sought-after destination for a larger population segment.
While Gurgaon has outperformed Noida in terms of growth over the last 2 decades, Noida’s rise backed by sound fundamentals is something to watch out for over the next 5- 10 years.