Noida, an Upcoming Commercial Hub of NCR

Noida has been witnessing the growth in the commercial sector over the last few years. The real estate sector of Noida is flooded with the upcoming properties, both residential and commercial. The number of people looking to invest in the National Capital Region, especially Noida is increasing by the day, city’s commercial real estate sector has witnessed an incredible growth in past few years. 

            

In recent times, the city has emerged as one of the most preferred destination for property investors in India due to its proximity to New Delhi. The city has witnessed large scale of commercial real estate developments. One of the reasons of such growth is the availability of big commercial plots in Noida at affordable price. Most of the big corporate houses are looking for 5 star facilities within their office and as a result developers are launching their commercial projects with all five star facilities, which are in much demand from national and international corporate houses.       

   

Noida’s Sectors 61, 62 & 50 are most preferred places to buy and rent property. All three of these sectors are located centrally within Noida and Delhi just 30-45 minutes away, and considering the kind of infrastructure these sectors offer, it is a complete package for an end-user.

According to industry reports, the commercial real estate in Noida has been performing well for the last few years, and hence, Noida alone occupies 36% or 2, 51,770 sqm of the office space. In Noida, the technology sector, with 60% share, remained the key driving force in office rentals space. Tech companies are continuing to fuel the commercial market growth and the city has emerged as the preferred IT and industrial centre.  

Noida continues to show positive sentiment, despite industry’s uncertainties. Many MNCs have marked their presence here across different domains like KPO, BPO, insurance, pharmaceuticals, automobile, manufacturing and FMCG. The city is an important transport and logistics node on the North-West corridor, and also an essential IT/ITeS destination in NCR second only to Gurgaon.

As a speedily developing satellite town, Noida’s good connectivity and full-bodied infrastructure riveted investors and occupiers to set up base in this market. The 24 km, six- lane expressway, connecting Noida to greater Noida, is slowly emerging as a new commercial corridor in NCR, whereas Delhi-Noida- Direct (DND) Flyway has added enormous value to the city’s commercial advancement.

Here is the quick list of factors proving Noida to be an upcoming commercial hub of NCR

• The city also supports robust social infrastructure, opening several fun and entertainment avenues to the vicinities
•  Excellent infrastructure, power supply, metro connectivity, Yamuna Expressway and improved roads coupled with skilled manpower has helped Noida to regain the market
•  With the launch of Yamuna Expressway and approvals of Metro to Greater Noida, the value of the area has also increased many folds. The value of both commercial and residential property has increased by 12-15 percent
• Companies such as SafeNet, IGATE, Genpact, Jubilant FoodWorks Ltd, NEC, Dell and Newgen are some of the major occupiers, with transactions ranging between 60,000–90,000 sq ft.
• Big MNCs and blue chip companies have also shifted their base location to Noida and Greater Noida, with transactions ranging between 60,000–90,000 sq ft.
• The affordable property rates ranging between Rs. 45–70 per sq ft offers this city an added advantage over similar locations in NCR.
• Greater Noida is emerging as a realty hotspot for commercial and residential properties.
• As the city is close to central Delhi and Noida, it provides a good residential solution to working people.
•  Besides, as a number of corporate houses have drawn out plans to start offices here, it will provide good employment opportunities to residents.
• A number of category organised players are entering into the commercial segment in Noida and Greater Noida.
• Good connectivity, a ready residential catchment and large land parcels are acting as enablers for the office market along the Noida–Greater Noida Expressway
•  The Noida authority has reserved approximately 3 lakh sq m of land for development along the expressway and has made allotments to 15 companies, including IT major Infosys, to set up campuses on one lakh sq m of land.
• The recent luxury launches are the indication that feasibility and viability of high-end commercial projects is now gaining traction in Noida
• There are more than 40 educational institutions, Planned Export Promotion Groups, Taj Economic Zone with Yamuna Express Ways which is further influencing the commercial market value in this area.

Undoubtedly, Noida has arisen as the commercial hub for people and investors who are looking to make fast bucks. There are so many projects in the pipeline which will have all the premium facilities and is targeting high net worth individuals and big corporate houses. Good connectivity along with plethora of other factors will definitely augment commercialization in the city. With government’s continuous effort to boost real estate and infrastructure in the city will definitely drive growth and deliver maximum to the citizens.