DELHI: Commercial property has always been considered a huge investment and preferably a deal made for corporate houses, MNCs, big and foreign investors. Retail players or small buyers always find it too expensive due to location, size and cost. They can hardly get a small office space so they prefer to rent a small office space to run their operations. But for the first time in the NCR, Greater Noida West is offering opportunity for retail and small buyers too. Multiple projects are offering not only smaller spaces but also at pocket friendly cost.
Soaring rental values and unavailability of space in Delhi moved professionals, corporate houses and MNCs to Noida. Today, it is considered one of the biggest locations of commercial operations in the NCR that has spread over various sectors. Most of them are unorganized with no parking space, permanent water and electricity problem, no power back-up, poor sanitation etc. Very few commercial spaces are completely organized. That is why such units cost high and at the end a retail buyer and small business holder are bound to rent a space.
But now that phase seems to be over since Greater Noida West is ready to entertain retail and small buyers with their unique offerings. After residential development, Greater Noida West is emerging as the best location for commercial operations. Due to the ‘mixed land use’ policy the developers are now offering a combination of residential, office, hotel, high street and space for IT & ITeS. Keeping the retail buyer in mind, these projects are offering units of various sizes – 200, 300, 450, 500, 800 and 1000 sq ft. This is encouraging for small and emerging entrepreneurs, IT professionals, CAs, lawyers and other professionals who want to invest in small commercial property for rental returns. Moreover, developers are offering entire lifestyle in their projects.
Greater Noida West is well connected with the adjoining cities such as Delhi, Noida, Greater Noida, Ghaziabad and Faridabad. It is surrounded by NH-24, the FNG and the Noida-Greater Noida Expressway. The locality has 130 m wide roads for internal transportation. With guaranteed connectivity from all around, the days are not far when the metro or mono rail will be operational as the modern mode of transportation for daily commuters. The government plans to create strong social infrastructure like hospitals, educational institutions, community centers, clubs, banks and ATMs, along with a strong sewage system, water supply, power supply and internal transportation to support the future challenges.
Comparing the cost of commercial units in Noida, which is more than Rs 10,000 per sq ft, Greater Noida West begins from Rs 4,000 per sq ft onwards. This is quite impressive for retail buyers and smart investors. Some of the prominent projects in the area are Intellicity, NX One, Premia Corporate Park, Trustone, Imperia, Regal Imporio and others.