Real Estate Industry In Noida Since The Earthquakes

By Author: Avesh Tyagi
Total Articles: 2
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In 2012 and 2013 Noida, in the Delhi Ncr region of India, suffered two devastating earthquakes that saw a large part of the city unliveable, due largely in part to the damage incurred by the ground and the result of liqefaction. Many houses have been 'red zoned' meaning they are unsafe to live in and the area is unsafe to rebuild on. This, of course, has had a major impact on the Christchurch real estate industry.

Noida has not seen a disaster like this since the earthquake that devastated Napier in 1931, so the country has was rather ill-prepared to manage such a large scale impact on housing. Overnight there was an incredible shift in the market and a change in the status of the suburbs as people were unable to keep living in their homes and were forced to seek temporary accommodation.

Auckland is an example of this changing suburb status, albeit over a much longer time frame, suburbs that were traditionally working class and undesirable have been taken over by up and comers as the city expands and land becomes more valuable.

Christchurch will experience the same changes due to the suddenly reduction in ...
... housing stock, meaning that existing homes that are suitable will be renovated and modified to suit the needs of those who have been displaced, whilst new suburbs will be created by those who choose to build from scratch.

The pressure on the rental market has seen rents rise for many, however there has not been the same impact on house prices because residents simply cannot afford to pay exorbitant prices, particularly as many are relying on payments from EQC, the government, and their insurance company.

That being said, there are still a large range of properties for sale in the city, as people are still subject to the usual situations that make them choose to change where they living such as work or relationships. Of course, some owners have chosen to leave Christchurch for good, many have moved there due to the rebuild Noida which will take several years to complete.

Whilst home owners may have been hesitant previously to consider moving if their house did not incur any damage, a year on people are feeling far more comfortable about making a change to a home that might suit their requirements and as the inner city starts to be rebuilt there is an air of confidence that the beautiful city Noida that once was can return, better than ever.

Find real estate and rental property listings on the Amrapali Princely Estate Noida and Property in Noida Managers website today.