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Noida, Greater Noida & Yamuna Expressway are set to be a property hot destination

Noida is considered to be one of the best realty destinations in Northern India and with the further development of its twin city, Greater Noida, its boundaries have been expanded. As a result, many multinationals have set their offices in this city. The factors that make Noida an ideal destination for commercial activities are affordable rentals, superior connectivity with Delhi, infrastructure development & better yields. The demand in Noida driven by corporates, industries, manufacturing units, and institutional centers. Noida is expected to remain an attractive destination for commercial realty occupiers due to consolidation and large campus concept developments.

Greater Noida West, Noida Extension, today, boasts of having good social infrastructure facilities including schools, hospitals, etc. The area is dotted with reputed educational institutions such as Ryan International School, Delhi Public School, St. Thomas College, etc., healthcare facilities including Sharda Hospital, Kailash Hospital, etc. and entertainment options such as Habi Tech Qube Crystal Mall, Ansal Plaza, etc. Easy accessibility to central parts of Delhi through Noida-Greater Noida Expressway. Proposed Taj International Airport at Jewar is likely to have an immediate positive impact on the residential real estate market of Noida Extension. Upcoming Faridabad-Noida-Ghaziabad (FNG) Expressway, a part of the Eastern Peripheral Expressway will further enhance road connectivity to the micro market.

Greater Noida Industrial Area is the gateway to the Delhi-Mumbai Industrial Corridor (DMIC),  located at the intersection of the Western and Eastern Freight Corridors. Proposed 210-acre greenfield electronic manufacturing cluster in Greater Noida is likely to create employment opportunities for more than one lakh population which is likely to impact the realty market.

Greater Noida is one of the most well-planned cities of North India. Over the last few years, the city has developed into an investment hotspot. Enjoying great connectivity to Noida and Delhi, commercial property market in Greater Noida is showing good potential for growth. The city connects to all major parts of the National Capital Region (NCR) through an integrated network of highways, expressways and radial roads. A good infrastructure- both physical and supportive- adds to the benefits of this location. Metro lines have also been extended to Greater Noida, again improving the connectivity. Upcoming international airport in Jewar gives a major boost to commercial real estate in Greater Noida.

One who wishes to invest in Greater Noida’s commercial property market can find a whole range of small office spaces and shops inside the mall projects. Commercial SCO plots are also trending in the area. Factory sites and plot projects are also there in some parts of Greater Noida. Some of the hottest localities for investment in Greater Noida are:

•                     Ecotech VI

•                     Ecotech XI

•                     Greater Noida West

•                     Near Jewar Airport at Yamuna Expressway

•                     Techzone IV

IT giants such as Computer Science Corporation (CSC) has 3 offices in Noida, Samsung and HCL Technologies are too headquartered in Noida. Other major occupiers include Sapient, Accenture, Fiserv, International Business Machine (IBM), EXL, Iyogi, Dell etc. Key IT parks offering commercial spaces to various corporates are DLF IT Park, Logix Cyber Park, Stellar IT Park and 3C Oxgen Boulevard including Unitech Infospace and 3C Oxygen SEZ. And companies such as HCL, Moser Baer, NIIT, CSC, Wipro have their own built-to-suit campuses, that are developed keeping in mind the special needs of these corporate.

The government has taken several measures to give a boost to small industries in the Greater Noida Region. Designated industrial areas such as Techzone and Ecotech have been developed. Leading real estate developers are launching their projects in these areas. Patel Group, Saya Group, ATS Group and Gaur Developers are the major names in Greater Noida commercial real estate market. A 24 km stretch Expressway has already transform the entire region, the expressway has been developing by leaps and bounds.

Noida and Greater Noida have a presence of more than 50 big corporate from different domains like IT/ITES/Retail/Manufacturing, etc. The improvement in metro connectivity is accelerating the supply & demand graph of the city. The city has become an ex & core model for a plethora of SMEs, MNCs, IT Companies & factories. A tranche of manufacturing companies is also recouping & inching with the industrial sectors. Both sides of the Expressway are filled with corporate sector. It is a win-win situation for the residences and MNC’s and foreign establishments here as the human resource needs are fulfilled and employment.

Noida and Greater Noida have a good social infrastructure with a  number of reputed schools like Step by Step, Amity International, Delhi Public School, Shiv Nadar School, Apeejay School, Lotus Valley School, Kothari International School, DPS Greater Noida, Ryan International School, Delhi Scottish, Jaypee Institute of Technology, Amity Law School, and Amity School of Engineering are some of the most premium schools and colleges located in Noida. Hospitals like Indo Gulf, Max Hospital, and JS Hospitals among others provide ample healthcare options.

Metro line is already developed and the upcoming metro-line is all set to connect the Expressway with other parts of the NCR like Gurugram and Faridabad. In terms of connectivity, the Expressway itself joins Noida and Greater Noida and was basically built to ease the traffic congestions on NH-2. It also connects the two suburbs with Yamuna Expressway and Agra city. The Yamuna Expressway Industrial Development Authority is also planning to build a direct metro line connecting Indira Gandhi International Airport, a Rapid Rail Transport Network and an elevated road to support the airport. All of this is expected to give the much needed boost to Noida real estate.

The average rentals of office spaces are Rs.50-60 /sq per month & similarly for retail spaces are Rs. 90-120/ sq per month. When compared with Gurugram, the average rentals are 25-30 % less in Noida, which is further enticing major corporates to move their operations to Noida.

The construction of a mega infrastructure project like Jewar international airport will boost commercial development in the region and revive the property market in nearby areas such as Noida, Greater Noida and Yamuna Expressway. The coming up of Jewar airport will give impetus to the commercial realty in the region. Owing to its affordable pricing, and a good mix of the asset classes. Warehousing and supply chain makes an ideal location to services the most vibrant demand for the neighborhood needs we expect that in no time Noida & Greater Noida will overtake and position it more strongly among NCR counterparts to emerge as the leading commercial real estate market.

The scale and scope of the project is such that it can change the dynamics of the real estate market in the NCR region by shifting the focus of investors to Greater Noida and Noida. Jewar set to attract investors; property prices to escalate With the state government clearing the decks for construction of an international airport at Jewar in Greater Noida, realty scenario of the city is likely to witness a shift in market sentiment. The development will not only boost economic growth and create new job opportunities but will also infuse a new lease of life in the long subdued realty markets along Yamuna Expressway.

The real estate sector in Delhi NCR was severely impacted by the pandemic however, a gradual recovery in transactions reflects at the latent housing demand in the city. Quality leads in the market are expected to reduce the home buying cycle in the months to come. While a price correction is most unlikely, the negotiation window might remain widened for another quarter. Housing demand remained low-key and risk-averse homebuyers were particularly wary of under-construction projects in both Noida-Greater Noida. Property sales, enquiries and new project launches remained standstill in the month of April-August. After the gradual relaxation in lockdown, enquiries improved in May and June however, sale conversions continued to remain muted, across the zones.

The on-going pandemic is testing the flexibility of corporate occupiers to operate in an environment where a part of the workforce returns to office premises in the 'new normal' while monitoring the workforce operating remotely via work from home (WFH) model. Greater Noida has a potential to offer a pretty decent ROI according to the kind of developments which are happening in the region. Currently, there is a sufficient difference in the prices at Gurgaon, Noida and Greater Noida. However, with the proposed infrastructure and Government initiatives; the difference is going to reduce sharply over next few years.https://www.propikr.com/

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