Lifestyle

Sector 62-65 Of Noida Witnessing Jump In Rentals Owing to Metro Connectivity

[ecis2016.org]

As the Aqua Line of Delhi Metro is preparing for its maiden run from Noida City Centre to Greater Noida, the prospects of institutional and industrial sectors of Noida, that is, sectors 62, 63, 64 and 65 are getting brighter. While the occupancy levels in these sectors have remained at about 70 percent or so for many years, the same is now rising with increased connectivity of these sectors with Delhi and Greater Noida.

You are reading: Sector 62-65 Of Noida Witnessing Jump In Rentals Owing to Metro Connectivity

Safety trials of the Aqua Line are being conducted and the project will commence operation from December 25, as per official announcements. Consequently, these sectors have started to see occupier preference. The occupancy levels in these sectors can touch 80-100 percent mark in the next 6-10 months, according to a report. This will bring the much required cheer to landlords who had bought property earlier in the anticipation that greater infrastructure growth and connectivity will boost prices and rentals in the area.

Read also : Rinfra subsidiary DAMEPL not to enforce arbitral award in its favour: HC informed

Since these sectors are institutional sectors, the plots here have large floorplates but the area suffered due to lack of alternative connectivity in the past. Now with Metro train connectivity and certain other infrastructure projects being executed in the area, there will be enhanced alternative connectivity with Ghaziabad, Greater Noida and South Delhi. Institutional Sector 62 and the industrial sectors nearby will become the preferred location of value and cost-conscious tenants that are looking for large floorplates and bigger office spaces in affordable rent category, according to a report.

Deals In Recent Past

There have been some noteworthy deals in these sectors in the recent past with the likes of Amazon, ITEL and ITBD leasing 12,000-150,000 square feet of space in these sectors.

Read also : India sees 20 per cent rise in dollar millionaires, despite GST impact: Capgemini report

Presence of ‘Ginger’ Brand of Hotel and other hospitality players in the area has ensured there is good ambience and supporting corporate culture in these sectors. There are also a number of restaurants, café and departmental stores right on the main roads of these sectors.

Rentals

The rentals started moving upwards in these sectors when the metro project was visibly complete or nearing completion. There has been 12-15 percent jump in rentals in these prime sectors of Noida in the second half of 2018, according to a report. The rentals could further go up in the near term when the metro train services start and more cooperates move in owing to better connectivity.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published.

Back to top button