What Makes Noida an Ideal Location for Commercial Leasing?

Noida’s well-planned sectors and well-connected roadways make commuting easy. The city has a first-rate road and metro train network that connects it to every other municipality in the National Capital Region. From here, travelling to Faridabad, Ghaziabad, and Delhi has always been incredibly straightforward. With the opening of the Eastern Peripheral Expressway, driving to Gurugram has now become easier. The location benefit is further enhanced by the existence of numerous metro stations that link all of the major commercial centres, minimising traffic and cutting down on commute times.

Saying that Noida has the best civic infrastructure of any NCR town wouldn’t be considered hyperbole. Noida has always benefited from having its infrastructure established prior to the beginning of property occupation, but Gurgaon and Faridabad are currently trying to resolve their complicated land ownership problems. Additionally, this has made sure that the town’s businesses have been running really easily. The distribution of business properties in this design has prevented residential property rentals in any location from increasing much as commercial leasing property occupancy has increased. The region’s commercial leasing spaces have been guaranteed by the steady expansion in population throughout time.

Moreover, Noida has been a centre for technology, home to numerous small and large IT firms that provide skilled labour. Noida has consistently outperformed other areas of Delhi-NCR in terms of labour availability, particularly at low to mid levels, thanks to its less expensive housing and convenient travel. The town is livelier and more consumer-oriented due to the growing working population. The region’s high per capita GDP and estimated population of over 15 lac people continue to draw national and international companies to open stores. As a result, Noida attracts residents from other regions of Uttar Pradesh and neighbouring states, growing the city’s consumer base and drawing in additional businesses.

This city is appealing to corporations and industries due to a number of ambitious initiatives, including the upcoming Jewar airport, the Yamuna expressway, improved metro connectivity in the Noida-Greater Noida Aqua metro line, and the Delhi-Mumbai based industrial corridor (DMIC) in this vital zone. The announcement of other new projects, including a movie city and unique incentives for big data centres, has also piqued the interest of developers.

It is also a reality that the NCR towns benefit from an essentially nonexistent supply of A grade spaces available for commercial leasing in Delhi. But only Noida and Gurgaon, out of the NCR towns, have experienced a rise in commercial leasing; Ghaziabad and Faridabad have fallen behind. Prior to 2020, Gurgaon accounted for the majority of new leases; however, data patterns indicate that Noida’s proportion of all new commercial leasing is increasing.

Corporates are likely choosing commercial leasing properties in Noida due to the improved infrastructure, lower ownership costs, and comparable space rentals. In general, buying a business property in Noida is 30% less expensive than in Gurgaon, while leasing rates are around 20% less expensive. That obviously carries a lot of weight when corporates evaluate and contrast the two significant NCR commercial leasing towns.

In certain areas of Noida, the availability of quality business space has also been steadily improving over the past few years. In the Noida and Greater Noida region, numerous developers, both big and small, have been offering commercial leasing buildings. The range of properties and the flexibility of the spaces supplied allow customers to grow as needed, avoiding the issue that most of them in Gurgaon have encountered—that is, running out of room later on. Prominent developers have demonstrated their willingness and ability to gracefully oversee huge commercial leasing buildings.

Corporates seeking office and retail space were previously compelled to relocate to Gurgaon due to limited supply in Noida, despite the city’s expensive costs and subpar infrastructure. However, this has changed in the last few years with a number of new projects getting completed.

In terms of security, Noida does better than the other NCR municipalities. Gurgaon performs far worse in this area, which has caused it to lose its top spot when it comes to office leasing. Over the past few years, the state’s security and law and order situation has significantly improved, with Noida receiving particular emphasis. The region’s stable law and order situation has also aided in the simultaneous development of several places, limiting the possible spike in lease costs.