Submitted by: Raman Shukla
Office spaces in the capital city are becoming scarce, therefore several businessmen, even though residing in Delhi are setting up offices in Noida as the rental values are still in affordable range. Noida Expressway is attracting considerable office employment. The employees of these offices are finding in convenient to live in Noida. In the upcoming time, it is expected that even the businessmen themselves will shift their residences to Noida.
In major part, the credit for this goes to the policies of Noida Authority that were activated in the last few years and were conducive for the development of office spaces as part of commercial activities at various sectors in Noida. The authority of Noida declared Sectors 62, 78, 105, 108, 124, 125, 126, 127, 132, 135, 136, 142, 143, 144, 153 and 154 open for commercial activities.
A number of commercial projects such as HCL s huge SEZ at Sector 125-126, Express Trade Towers, Adobe and Logix Technova at Sector 132, etc. have been launched. These properties are very valuable as they have the potential to generate very good returns to investors and buyers. These commercial projects make perfect business sense for corporate and even entrepreneurs, wanting to make a smart move to Noida Expressway.
The entire belt along the expressway has witnessed a wave of change with world-class facilities and infrastructure sprouting all over the place, and connectivity getting a step ahead with the 165 km long Yamuna Expressway (Delhi-Agra).
The boundaries of Noida-Greater Noida have stretched to new locations and helped commercial projects come up on these developing sectors. These commercial activities in turn pushed for the development of the housing sector, cutting across segments, from affordable to mid-segment and right up to luxurious residential projects, all of which come with high technology and exclusive facilities.
The enhanced infrastructure has resulted into a major boon for Noida-Greater Noida real estate. The area has become a well-known business hub due to the presence of shopping malls and commercial centers. The new flyovers, DND Expressway and the Noida Greater Noida Expressway along with wide city roads have facilitated the process a lot. All these developments have ultimately improved the living standards in Noida Greater Noida and its surrounding areas, thus encouraging more people to move here.
The demand and need for commercial space has hiked mainly because of the movement of the people on this stretch. Consequently, efforts have been made to meet people s work-play-rejuvenate-stay requirements, all at one destination. Delhi s real estate market offers higher rate of returns and any area linked to Delhi is bound to benefit from the appreciation in real estate, compared to other metro cities. Thus, proximity to Delhi has also added to the sheen of real estate on the Noida Expressway.
Supertech Limited is developing E square in Sector 96. The project is a retail-cum-office complex of 5.5 lakh sq ft with 24 floors. R. K. Arora, the CMD of Supertech Limited, says, E square will offer premium office space ranging between 520 sq ft and 15,000 sq ft, with an integrated retail and entertainment zone. It will be an ideal destination for MNCs and corporate; residents in the vicinity, too.
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