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Commercial Property in NOIDA
The corporate industry in recent years has viewed NOIDA as a commercial address which has not only fuelled the growth in these areas but has also managed to check the real estate prices. In the highly buoyant commercial real estate market, rentals transactions seem to be the order of the day.

The properties are fetching returns of 10% p.a as rentals on the capital value of the property. With the likely hood of more corporates moving into these commercial areas in NOIDA, where the supply too is on the increase, the real estate prices are expected not to show too much of a movement either ways.

Demand for Noida properties is likely to reach an all time high with the Noida Board planning to develop one of the largest commercial spaces in the region. The project will take shape on 225 acres on the Noida-Greater Noida Expressway. In March 2008, real estate developer BPTP Limited bagged a 95 acre commercial plot in Noida Sector 94 for a whooping Rs 5,006 crore ($1.24 billion), from the Noida Authority. BPTP quoted the highest sum of Rs 1,30,207 a square meter beating DLF, India's biggest listed developer, and Omaxe which quoted Rs 1,17,000 and Rs 80,100 a square meter, respectively. It plans to develop high end office and commercial space at a project cost of Rs 9,000 crore.

Office Space: As conglomerates, both Indian corporates and MNCs are scouting for commercial spaces; NOIDA is emerging as a preferred IT & ITES destination of India. Real estate developers in Noida in their bid to lure investors are coming up with state-of-the-art office spaces as per international standards.

The most preferred locations for IT companies are sector 29, 57, 58, 59 & 60. Major office complexes of the town are located in and around Sector 18. As a result of recent addition of IT projects, the annual supply of IT space in NOIDA has now become approximately 0.78 Million sq ft, against the average demand of 0. 52 Million sq ft.

This increasing growth is well recognized by local authorities and efforts are being made by them to promote IT sector especially small entrepreneurs. Moreover, many BPO companies have also acquired office space in Noida.

Retail Space: Sector 18 is a major retail market of the city, which consists of high street shops as well as shopping malls. High street shops are available both on rent as well as on sale and the size varies from 200 - 500 sq ft. The Great India Place, developed by the Unitech Group and is located in Sector 38-A of Noida. The mall is part of the larger Entertainment City amusement park. The mall houses big retail outlets like Shopper's Stop, Globus, Pantaloons, Big Bazaar, Home Town, Lifestyle and Lifestyle Home, along with international brands like Adidas, Nike, Guess, Marks & Spencer. The mall follows a zoned concept with home and grocery on the basement level, women's apparel on one side, men's on the other and a 180,000 sq.ft. Food and Entertainment zone on the top floor, with a 5-screen Adlabs multiplex, with a total seating capacity of 1220 seats. There is also a 80,000 sq.ft. zone dedicated for the Wedding Bazaar, and a Home Saaz section for home improvement. The maximum area of the mall is covered by Future Group ventures named as Home Town, Big Bazaar and Pantaloon.

Industrial Space : There are more than 7000 manufacturing units here. With an investment of about Rs 15,000 crore rupees, these industries provide employment to over a lakh of people. To help establish industries, many industry-friendly simplified measures have been introduced by the local government.

The Noida Software Technology Park (STP) ranks second in the country in terms of export turnover and the Infotech Park (ITP) on 100 acres of land with state-of-the-art infrastructure, housing about 152-200 units make Noida the epicenter of IT Revolution.

Noida Export Processing Zone (NEPZ), a 100% export oriented unit and the only land locked export processing zone in the country, housing industries like Electronics, Textiles, Engineering, Computer Software, etc.

Realising Noida's potential, many reputed industrial houses both at home and abroad have made Noida the pivot of their operations. M/s Motwane Laboratories, America have been allotted 300 acres of land out of which 100 acres will be utilized by for establishing a bio-tech university. This will be the first bio-tech University of Asia which will give a new lease of life to the bio-tech students of India.






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