Noida & Greater Noida are commercial hotspot to look for

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Noida & Greater Noida is coupled with electronics manufacturing companies and ease of connectivity from Delhi has added up to expanding of a residential base has which has lead to increase in state-of-the-art development of commercial & residential center at a competitive rate, which is resulting in Noida & Greater Noida becoming next commercial real estate destination in Delhi NCR.

As per research, while comparing the grade-A office rates in Noida with Gurgaon it was found that Grade-A offices in Noida cost between Rs 50-80 per sq ft, while in Gurgaon, it is in the ranges from Rs 85-125 per sq ft in prime areas.

Moreover, Covide-19 resulted in a demand for Grade-A office spaces in Noida as compared to its counterpart Gurugram. One major factor is the cost advantage that Noida has over Gurugram. amidst the pandemic, several corporates, start-ups, and businesses looked at Noida as a better alternative in 2020.

Anupama Rastogi, Square Yards head (NRI Business) said, "Noida & Greater Noida today have the presence of 50 big conglomerates from domains like IT-ITeS, retail, and manufacturing. Upcoming Jewar international airport and proposed Noida film city has given positive momentum to the overall real estate market in Noida”. 

He further coated, The improved connectivity of the metro is increasing the supply & demand of CRE equally while the workforce finds the most affordable and high-quality living in this micro-market of NCR.

Noida offers an attractive destination due to infrastructure & accessibility & secondly residential communities are coming for instance in sector 150.third, its a hub of IT-ITeS companies. What this means that there are new micro-markets which are coming up with great quality products which are extremely affordable compared to Delhi or Gurugram,” he said.

Ashish Butani, managing director of Bhutani Infra said"The reasons attributing to this appreciation will be upcoming infra projects, seamless connectivity with cities of UP and Haryana and a wide range of developers entering Noida with their unique futuristic projects," he added saying that "Aerocity is Rs 200 per sq ft per month, while Connaught Place cost Rs 300 plus and Gurgaon is Rs 150 for proper buildings. In comparison, Noida is Rs 70-100 per sq ft per month along with the facilities and amenities".

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