Greater Noida is one of the most significant suburban areas of Delhi NCR and is on the way to become major growth hub, booting prospects of real estate, especially commercial real estate.
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The township right now measures 36,000 hectares but the government plans to make it as big as 94,000 hectares by adding 58,000 hectares from agglomeration of 188 villages to it soon.
Here is a look at why there will be massive increase in return on investment from commercial real estate in the near future in Greater Noida:
Greater Noida is witnessing major infrastructure development for improving connectivity in the area. The Aqua line of the Metro has connected Greater Noida with Noida and Delhi and that is a major enabler for the real estate sector here. The rentals have already started climbing up in the existing stock of commercial real estate and are expected to go up further, say property experts. The IT companies are showing more inclination now to shift to Greatre Noida since the introduction of metro here.
Boosting connectivity via Eastern Peripheral Expressway that will link Kundli-Sonepat with Palwal to Greater Noida will provide new opportunities for warehouses and Grade A commercial buildings to come up here. A link road is in the works between Ghaziabad and Greater Noida. It will be 22 km s in length and will connect Zeta sector in Greater Noida with Vijay Nagar Bypass in Ghaziabad.
2 Jewar Airport
The commercial real estate industry in Greater Noida will get a shot in the arm with the construction of country’s largest airport at Jewar. This will drive the real estate prices in Greater Noida and many companies will like to shift here or have their operations here because of proximity to the international airport. About four thousand acres of land will be developed for the first phase of the airport and much more will be developed in subsequent phases. This will have a great cascading effect on the prospects of commercial real estate in the vicinity including Greater Noida.
3 Infrastructure Development
A huge transportation hub and a mega rail terminal are also planned in Greater Noida. This will improve employment opportunities in the area. There has also been a proposal for Fast-Metro Train Project between the IGI airport and Greater Noida. There are a number of other infrastructure projects planned here by the government. This will improve the prospects of commercial real estate as more companies will like to shift here, say property experts.
4 Social Infrastructure
Greater Noida has already seen development of some social infrastructure and more is coming up now. It already has renowned brands for schools like DPS, Ramagya, Amity University, Kothari Public School and Khaitan Public School. There are a number of good hospitals and malls. There will be more malls and hotels coming up in near future.
Greater Noida is a very well planned city and many companies like LG, Lava International and Micromax have huge investment plans here. As government plans more infrastructure here and as more companies prefer this suburban part of Delhi, it is just a matter of time before commercial real estate starts to bloom here, says experts.
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