Indian real estate market has emerged strongly from the recent global downturn, and commercial construction have seen breaking numbers in the recent past. India is gaining eyeballs globally, which is a positive step towards the development of the country.
Riding on the momentum, Noida has become the hot-spot for commercial and residential properties with planned infrastructural advancement. With enriched infrastructure, world-class residential, commercial and educational facilities the city has not only engrossed maximum home-buyers but also big corporate, start-ups and PSUs. With high end infrastructure and premium facilities, the city has become a rapid-developing real estate destination in comparison with other areas in Delhi NCR.
To establish Noida as the hottest property hub, the industrial and commercial policies by GNIDA has helped in infrastructural advancement in the region and commercial actions have taken off in right earnest.
Recently, it has been observed that major conglomerates are shifting their offices in Noida and suburb. Companies like Wipro, Yamaha, HCL, and Vivo Mobile are happily doing their business from Noida. Vivo mobiles, which recently entered India market, has taken on lease large space in WTC Noida.
According to the industry experts following are the reasons towards this shift:
• Buying property in Noida and its suburb has become comparatively easier over the past few years.
• Following central government’s Smart City initiative, innumerable developers have entered the market and providing premium projects with large floor plates
• The authority too, has stepped in to complement developers’ efforts in a big way by allotting several institutional and commercial plots to increase commercial space in the city.
• Golf-course, engineering universities, b-schools, world-class hospitals, hotels, shopping malls and recreational parks have given the city an upmarket clientele.
• Noida’s connectivity to Delhi and Gurgaon, metro service and premium infra facilities enhance the commercial developments in the region.
• For more high-end developments, GNIDA is acquiring land from nearby villages like Itehda, Parthla Khanjarpur, Sabery and Haibatpur.
With the central government’s recent demonetization policy, there may be a dip in commercial property rates in the region. On the other hand, the move will definitely comb out the unorganized players from the market. An organised commercial market with established players like Godrej, Tata Housing, and WTC etc. reflects transparency and boosts investors’ confidence. With all these attractive changes and advancements, it would be really fascinating to witness the growth of realty sector and especially commercial development in Noida.
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