Noida has emerged as the hottest realty hub in Delhi NCR. With office spaces becoming scarce in Delhi, companies have started to look for other viable options and Noida has attracted a considerable office space development.
In one of the biggest instances of development of commercial spaces, a recent news report stated that the global investor Blackstone is now reportedly in negotiations to acquire an Information Technology Special Economic Zone (IT-SEZ) in Noida.
- The DND Expressway and the Noida-Greater Noida Expressway, along with wide city roads have facilitated the development of commercial spaces.
- The hospitality industry in Noida is generating close to Rs 5 to 6 lakh in Noida just through room rents. Noida predominantly gets 88 percent of its corporate clients in the hotels and guesthouses.
- From existing 300 rooms of upscale and midscale type of hotels, by the year 2015 Noida would have approximately 4,268 rooms, as stated in a recent report by Cushman & Wakefield.
- Marriot Hotels is coming up with major properties in Noida and sees a great opportunity in the place.
- A study by Assocham says that leading IT and ITeS vendors prefer to shift their focus from Bangalore to cities like Noida to generate more revenues.
- Some of the top names in IT, including HCL, NIIT and Genpact, are based in NCR. The advantages of this region include good infrastructure with better connectivity within the area.
- Another major enabling factor IT companies is the relevant pool of resource/talent available due to the spread of reputed educational institutions in this area.
Source: Times of India / Economic Times