Why are office spaces moving to Noida?

Indian cities have prospered as a result of brilliant and dynamic immigrants. A city like Noida bursting at the seams was earlier mentioned as 'eclipsed' by Gurugram as NCR's commercial hub, but now Noida looks poised to emerge from that shadow!

For four consecutive quarters, Noida has been the Delhi NCR's best-performing market in net office space absorption. According to JLL India, Delhi NCR experienced net absorption of 1.07 million square feet (MSF) from January to March 2021, a 5% quarter-over-quarter increase. Noida was responsible for 55% of the net absorption, followed by Gurugram at 38%. From April through June 2020, Noida has continuously surpassed Gurugram in growth. (Source- Financial Express)

The National Capital Region's most sophisticated urban development hub, India's most inventive town, NOIDA (New Okhla Industrial Development Authority), has become an economic superpower. As a result, it has evolved into a current paradigm for long-term urban planning. To draw in business and residents and relieve the congestion in Delhi, Noida is being developed as a metro hub. The city is home to numerous IT and ITES businesses, and the number of well-known companies/MNCs is growing, creating more job opportunities.

Many MNCs have the logical choice of settling here as the connectivity has been one of the major boosters for the development.

There are the following reasons that state Noida has an outpacing office space absorption:

• IDEAL LOCATION & CONNECTIVITY: The location of Noida is its most significant selling point for investments. Noida is close to Delhi because it is part of the NCR. Additionally, the city has excellent access to the Yamuna Expressway and the Noida-Greater Noida Expressway, assuring commute convenience for its citizens. Additionally, it is well connected to other important NCR regions. 

• UPCOMING JEWAR AIRPORT: Jewar Airport is currently the top attraction for everyone and is progressing quickly. It is anticipated to be the largest airport in terms of area. And the project's first phase entails building on 4,000 acres; the remaining area will be developed in subsequent phases.

• STRUCTURED INFRASTRUCTURE: With the Yamuna Expressway, the upcoming best highway in India, it can boast of having the best road system in the world. Noida has ambitious plans for the future, including adding more greenery to the city and extending the metro lines. Noida and Greater Noida are the first metropolis in Asia where development had already begun before 30 years of planning had been completed. As a result, Noida will have excellent infrastructure.

• INVESTING HUB: Noida can offer a very high return on investment based on the types of projects being undertaken in the area. The YEIDA (Yamuna Expressway Industrial Development Authority) has allotted 300 acres of land to the well-known Patanjali Group. Bigshot MNCs like LG & Micromax have evinced their interest in acquiring the land. The DMICDC (Delhi-Mumbai Industrial Corridor Development Corporation) has started releasing properties to the willing investors, which will vary according to the demand for the land, i.e., the bigger the land, the lower the bidding. 

• RETURN ON INVESTMENT: According to the kind of developments taking place in the area, Greater Noida has the potential to provide a reasonably respectable return on investment. The pricing differences in Gurgaon, Noida, and Greater Noida are currently sufficient. However, the gap will narrow significantly over the following few years thanks to anticipated infrastructure and government measures. Given that the price of real estate will undoubtedly increase, now may be the best time to invest in Noida and Greater Noida.

Noida has rapidly developed into a modern example of thoughtful urban planning, making it the perfect location expanding their office spaces. Considering all the above factors, we can find one name in this commercial property space in Noida which is Eon Commercial Park, one of the best office spaces in Noida by the popular Eon Group. This office space in Noida will certainly take your business to the next level!Below are a few of the project highlights:

·       It is spread across a span of13.65 Acres

·       It is a 3-sided open plot with well-equipped amenities.

·       High-End Retail& elegant office spaces

·       Designed By Famous Architect ‘Design Forum International’

·       IGBC Gold Certification Compliant Development& ‘A’ graded buildings

·       The commercial park maintains sufficient greens & is Centrally Airconditioned

The project connectivity is splendid and is easily accessible. Below are the location highlights of the best commercial project in Noida-

·       Well connected to Delhi Gr. Noida, Ghaziabad and Faridabad

·       30 min from Upcoming Jewar International Airport

·       2 mins drive to Metro Station

·       Sector 18 Noida- Just approx. 10 mins drive

·       Akshardham- Just approx. 20 mins drive

·       DND- Just approx. 10 mins drive

Give your office space the perfect address it deserves by investing in EON Commercial Park, an exciting project in Noida that has thoughtfully crafted office spaces & retail space at an unmatchable prices!