Commercial property in the Noida market is upbeat even in a lean market and is offering good returns to both investors and buyers.
The residential real estate market in Noida may be reeling under tough times but the commercial and office space segment have beaten this slump and are promising investment returns.
Sectors 15, 16, 18, 25, 32 and 62 have seen infrastructure developments at fast pace, grabbing the attention of many potential investors. These sectors either have existing metro connectivity or are located next to proposed metro corridor and have become hotspot for residential and commercial activity.
Noida enjoys great connectivity with Delhi, being only 3.5 km away via DND flyover. Mahamaya flyover is a boon to Noida as it connects all prominent roads in Noida to Delhi. The excellent connectivity offers huge potential for real estate development in the upcoming sectors of Noida and further to Noida Extension.
“World class commercial projects- both existing and under-construction – have changed the face of Noida’s real estate market”, says a shop owner at Noida’s Sector 18 market.
As per the Noida Master Plan 2031, Sectors 32 and 25A have been allotted 98 hectares of land to develop commercial city centers and few other sub-district centres. Sector 18 is already developed as major commercial area in about 35 hectares. Sector level shopping centres and local level convenient shopping centres have been developed almost in all the sectors of Noida.
Sector 18 is dotted with several existing and upcoming entertainment zones, shopping malls, commercial complexes and eating zones. The area has the presence of some top-notch realty developers like Wave Infratech, DLF, 3C Group and Unitech.
Wave One- a 41 story commercial complex situated in the core sector of Sector-18 is an iconic structure of the area. “The project is set to offer retail shops, office spaces, modern entertainment and leisure. The minimum investments starts with Rs 65 lakh. The venture is likely to be completed by December 2017”, says an executive at Wave Infratech.
The Iconic Corenthum is yet another major project by Beaver International situated at Sector 62, Noida. This tower is conceived to be 160-metres tall with roof top sky deck for a 360 degree view of Noida. The ultra-modern commercial building offers high rise office space and retail spaces.
“When real estate market is going through a consolidation phase, it is wise to make investment in commercial real estate that will prove immensely fruitful for both who are looking to reap regular monthly income out of leasing their commercial property or those who want to use the space for their own business and saving monthly rate”, says Karishma Gogia, marketing deputy manager, Neobrix Consulting.
“Spectrum @ Metro is new upcoming commercial complex situated at Noida sector 75. The complex will be built over 15 acres of land out of which 6 acres have been launched in first phase with four commercial towers. The venture offers retail shops and office space sizes between 2,000 sq ft to 10,000 sq ft. There will be hypermarket inside the campus for which 98,000 sq ft. have been already allotted. The shopping mall will have a mega screen multiplexes, many brands retail shops and anchor stores that will cater the needs of more 1.25 lakh people living in the nearby area”, says Malay Ranjan, deputy general manager of Neobrix.