Noida Expressway: A Flourishing Commercial Real Estate Corridor
The Noida Expressway stands out as a vibrant and rapidly evolving commercial real estate landscape. Its strategic location, excellent connectivity, and continuous infrastructure development are key strengths. As one of the main arteries connecting Noida and Greater Noida, this expressway has become a sought-after destination for commercial real estate expansion, exhibiting dynamics in the present day. The high demand for retail and office space is fueling substantial real estate advancement in the region. Buyers and investors view it as a comprehensive destination for work, leisure, and entertainment.
Retail Expansion on the Rise
Market analysis indicates a significant upswing in retail space. The supply of retail space is projected to increase by 45% from the existing 91 million square feet across seven major cities by 2028. This growth supports developers' ambitions to broaden their retail footprint. Specifically, the Delhi-NCR region is expected to experience a 34% increase in retail stock supply.
Connectivity and Strategic Location
The expressway's advantageous location and connectivity to key hubs make it a popular choice for investors seeking strong returns. The location is key to its popularity. In addition to linking Noida and Greater Noida, it connects to the Yamuna Expressway, offering direct access to significant cities in Uttar Pradesh. The approaching Jewar Airport, officially known as Noida International Airport, has further transformed the corridor into a hub for both office and retail expansion. The ongoing metro expansion enhances the value of both residential and commercial properties, stimulating local business growth, elevating property values, and improving the region's socioeconomic landscape.
Infrastructure Advancements
A new highway is under construction parallel to the existing Noida Expressway, thanks to collaboration among the irrigation department, REITS, NHAI, and the Noida Authority. This strategic infrastructure initiative aims to manage the anticipated increase in traffic resulting from the Noida International Airport and the city's growing business sector. This enhanced connectivity will further benefit the area's real estate market.
Thriving Office and Retail Projects
The growth of office and retail projects, spurred by extensive infrastructure development, is a notable trend. The expressway has become a hub for job opportunities due to the growth of small businesses, startups, and established companies. Consequently, there has been an upswing in demand for commercial space. Reputable companies like Tata Consultancy Services (TCS), Axis Bank, and leading IT firms have secured office spaces along the expressway, which is driving the demand for premium office spaces. This trend presents lucrative opportunities for savvy investors.
End users are increasingly viewing mixed-use commercial spaces, high-street projects, and shop-cum-offices as integrated hubs for entertainment, leisure, and work. This is driving increased demand for these developments along the corridor.
Demand for Office Spaces
Recent reports suggest that domestic companies will account for over 50% of the demand for offices in 2024. Additionally, it is anticipated that GCCs will gain even more traction, accounting for over 40% of the total need. Experts suggest that Noida's commercial real estate has thrived since the construction of the Yamuna and Noida expressways, opening up numerous investment opportunities with the expansion of retail and commercial properties.
Investment Potential
The Noida Expressway provides substantial appreciation potential in addition to numerous retail offerings, positioning it as an ideal location for retail investment. These combined factors solidify its position as a prime destination for commercial real estate, promising a substantial influx of customers and excellent returns.
The Noida Expressway is a commercial real estate corridor distinguished by its rapid transformation and dynamic nature. This is a result of its advantageous location, remarkable connectivity, and ongoing improvements to infrastructure. Because the area is growing, companies and investors will have unprecedented chances that guarantee long-term success and consistent growth as a result.