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Noida is now new hotspot for office spaces

Two cities in Delhi-NCR area have always been compared for their real estate status—be it commercial or residential. As far as office spaces are concerned, Gurgaon has always been seen as having companies that offer better salaries; however, according to a recent survey Noida would have more employment opportunities in the coming 3 years.

 

T 1

 

 

  • At present, the demand for office space has been highest in areas such as Noida sector 62 to 65, NH-24 and Noida Expressway due to the upcoming transit infrastructures such as flyovers, underpasses that would improve the traffic conditions in these areas.
  • Apart from this, the upcoming metro connectivity has made these locations more attractive for the businesses.
  • The Noida-Greater Noida metro which is slated to get operational in next few months would connect all the leading business parks along the expressway.
  • This tends to bring down the operation cost for the corporates who have to provide door-to-door cab services to their employees.
  • Currently, Noida is dominated by tech companies, followed by finance, engineering, and manufacturing units. In recent transactions, companies like Conduent, Nokia, EXL, Kalpatru, Cargil have acquired huge space in the commercial hubs of Noida.
  • The trend is expected to gain ground in near future owing to excellent infrastructure and affordable rents even in the most premium office spaces.
  • While the quality of the commercial buildings still remains questionable as the delivery is being deferred by the developers due to funding issues, the range of new office supply is expected to impact the residential pockets in the vicinity.

T2

What Delhi, Gurgaon lacks?

  • For Delhi, the high-grade offices command exorbitant rentals, which make it unaffordable for most of the enterprises.

 

  • On the contrary, the intra-connectivity in Gurgaon is poor as the metro connectivity is limited to Huda City Centre and the corporate houses have to shell out extra to provide last mile connectivity to their employees.

Source: PropTiger

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