When we think about buying a house there are a large number of factors that need to be considered. The basic facilities such as EPF withdrawal and other factors to keep in mind are the priorities that need to be met. Apart from these basic amenities, investigation of the property so as to check on the location and people living there is important.
Because nobody wants to regret a decision taken in haste. Moreover, the investment involved in the purchase of the house is a lump sum one and thus one has to access all the options carefully before applying for a Home Loan.
Gurugram or Noida?
Places around the capital state of the country have left people with an important doubt- Which place is better for investment Gurgaon or Noida?
These places have seen magnificent changes in the recent years and they have a lot to offer to the people who are living there. But to choose from any one of them could be a tough choice and one has to consider the comparison between the two places.
You have to consider factors like demand and supply, infrastructure, connectivity, quality of living.
investment Gurgaon or Noida?
Noida which is located close to Delhi is the hub for many IT and ITeS industries and it also houses automobile industries. It also provides advanced infrastructural facilities for settlement and has greener landscape belts.
But due to the increase in the supply of the office spaces, prices are sky high in terms of purchasing a property in the city of Noida.
Notably, the Home Loan providers may or may not provide you with the amount of finance you require. If in case they agree to provide you with the lump sum amount, the monthly installment of the Home Loan EMI will still be tremendously high.
Moreover, Noida is being developed on a huge plot of 99 hectares and has residential complex, big office spaces, cultural centers. It even has five-star hotels and an 18-hole golf course built matching international standards.
But there have been various cases of land acquisition and many disputes have stained the reputation of the developers. Noida also has a better water and electricity system and the electricity has been privatized.
Now the other choice
The city of Gurgaon is situated close to southwest Delhi; it has become one of the luxurious investment destinations, and to ensure better transportation, the city of Gurgaon has 11 metro stations. Additionally, the metro has plans to spread across the city and provide a better mode of transport.
On the other hand, there are things that cannot be ignored about the city of Gurgaon, the city has a hazardous environment as it was shaped and organized by a private company. The city also has the worst social and physical infrastructure in the country with the growing population being one of the biggest concerns to the worst infrastructure.
Even after all this, luxurious investment in the city is experiencing steady growth. But if you wish to apply for Home Loan in Gurgaon, you should have a high monthly income. Gurgaon has better schools and international institutions which one can rely upon for the education of children.
Home Loans in Gurgaon
Note that Home Loans in Gurgaon can be hard to avail due to the high property rates. Herein to the banks and the money lender may be reluctant to approve the loan. You might also be asked to offer collateral due high property price.
In comparison, Noida can be an ideal place for one to invest due the better infrastructure and a healthier environment. You can also avail Home Loans easily due to the lower price rate of the property. Noida is also known for the industrial setup and for the career options it provides.
Thus Noida remains a good choice. But make sure to understand all the bank loans being offered and choose one that best suits your needs.