Noida is among India’s fastest-growing cities, widely known for its thriving IT industry, advanced infrastructure, vibrant culture, and a nice environment for entrepreneurship. Whether you’re relocating to the city for jobs, education, college, school, or a slight change of scenery, the first decision you’ll ever make is to buy or rent an apartment.
While selecting a suitable place to spend a comfortable life, Noida offers two options: buying or renting an apartment. While both of these options have related advantages and disadvantages, purchasing an apartment brings a number of advantages that make it a preferable decision for every homebuyer to look out for a suitable residence.
Why Noida for Premium Residence?
As Noida is showing continuous growth, the demand for housing has climbed considerably. Purchasing an apartment in Noida brings a number of advantages. It’s a marvellous real estate investment for first-time buyers that grows in value over time. Thinking of betting on premium residential property like Max Antara Senior Livings in Noida? It would be the best idea as it allows you to gather assets over time, which is important in the long run.
Furthermore, one is guaranteed comfort and safety since they control their living environment and possibly modify the apartment to suit personal needs. In this regard, we will discuss the best five reasons to purchase an apartment as compared to renting.
Real Estate
One of the big benefits of buying an apartment in Noida is investment in real estate. Instead, it leads to a significant accumulation of equity for purchasing and owning an apartment. Equity is the cost price of a house minus the loan amount due.
As you continue paying your mortgage, the value of the equity that remains on your home increases steadily. This provides a substantial boost to the appreciation of your property, thus enabling you to sell it at a profit later. This means that buying an apartment is a good choice of investment, particularly when one intends to keep living in the building for a long enough period.
Stability and Security
Buying an apartment gives stability and security to the buyers. Whereas in a house for rent, you are dependent on the property owner. They can increase your rent, refuse to renew the lease, and sell the house without giving you notice, and you will have nowhere else to stay.
However, when you live in your own house, you make your own rules regarding living conditions. This allows you to dwell in the house within as little time as possible, doing repairs and tailoring it to your needs. It comforts your mind by assuring you live in a secure environment you can depend on for stability.
Freedom to Customisation
You choose where you want to live when you buy property in Noida. It does not mean asking for permission from a landlord before you can renovate or change the property. It gives you the opportunity to personalise your house and achieve a unique living space that fits your tastes. However, in a rental situation, you will have to rely on the rules of the landlord, which might not match your choices.
Tax Benefits
In addition, the tax advantages associated with purchasing an apartment make it a convenient and lucrative option for investors. The only time that you can deduct from your taxes is when it comes to interest on the loan that you are paying while being an owner of a property. The property can help lower taxes and hence compensate for other costs involved. Moreover, should you decide to lease it out at a later stage, then the associated costs of maintenance as well as management would be exempted for tax purposes.
Potential Income Generation
Finally, acquiring a flat may prove profitable in terms of income generation. You also have the option of renting out the apartment and generating rental income towards owning the facility. A better option is to invest in 2 BHK flats in Noida at a low price and then sell it when the rates are high.
This is a great way to accrue residual revenue, as well as generate wealth over a long period. Also, if you decide to put this property on sale later, you will also be able to earn money and increase your income.
Top 4 Reasons To Invest in Noida
Noida is Affordable
Noida is located within the green belt, and its lifestyle is affordable when compared to that of Delhi or Gurgaon. For instance, Delhi, the capital city of India, is crowded, and the houses are among the highest priced in India.
Brilliant Connectivity
Another hub for MNCs and a developing suburb, Gurgaon, is costly compared to Noida. The Indian Government is taking several measures to enhance the linkage between Noida, Delhi, Gurgaon, Ghaziabad, Faridabad and other cities.
- Noida is connected to Delhi via Delhi–Noida Direct Flyway.
- The Delhi Metro’s blue line begins at Noida Electronic City, proceeds through sectors such as Sector 52, Noida City Center, Botanical Garden, and Sector 16 within Noida, and then passes through some important locations such as Rajiv Chowk, Rajouri Garden, Tilak Nagar, Uttam Nagar, Janakpuri, Dwarka Mor and finally ends at Dwarka Sector 21.
- Similarly, from the Sector 52 metro station, one can change the Metro to Sector 51 on the Aqua line metro of Noida.
Employment Hub
Noida is a business city with numerous commercial complexes from renowned developers. Well, many commercially active districts such as Film City, sector 62, sector 15, sector 16, and sector 125 are the dwelling places for renowned media houses, leading MNCs, innovative start-ups and eminent Indian businesses.
In addition, Noida is now the biggest smartphone-producing centre and the fourth most prestigious IT-BPO location in India.
Upcoming International Airport at Jewar
Construction of India’s Largest Airport, which exceeds 4000 acres, started in December 2018; however, it will be ready by 2024. The under-construction Jewar airport in Gautam Budh Nagar on the Yamuna Expressway is only 13 kilometres away from Noida.
Upon completion of the airport, the people living in Noida and Greater Noida will not need to access Indira Gandhi International Airport, which is at a distance of about 44 km. It will offer both domestic and international flights immediately when it will commence its operations. Hence, it is now time to buy land in Noida since prices are likely to increase following the opening of the airport.
The Final Thoughts
To wrap up, investing in an apartment has numerous benefits compared to taking residence in a rental house. Buying land is like putting money into an asset, which will later reward its owner. It allows you to have control over your own environment, which provides a feeling of stability and security.
The apartment gives you an opportunity to design it how it suits you and get a tax break advantage. This will be through lease income or selling the flat at a profit later on. Even though the initial payment when purchasing an apartment is more substantial than paying rent, in the long run, the majority will find it profitable.
