Commercial real estate on a new high in Noida, Greater Noida
Commercial real estate (CRE) in Noida and Greater Noida regions is experiencing a remarkable boom, driven by the state government’s massive infrastructure push and the surge in post-pandemic demand. The ongoing construction of Jewar Airport has further accelerated this CRE development, creating a fertile ground for high returns on investment.
“This presents immense opportunities for business owners and investors alike. The region’s robust infrastructure development, increasing leasing activity, and favourable long-term prospects make commercial real estate in this area a highly promising and profitable investment option,” says Sanchit Bhutani, Managing Director, Group 108. The region is witnessing a notable rise in high streets, standalone commercial outlets (SCOs), and integrated malls with office spaces fostering vertical development of commercial spaces. The latest report by CBRE India, titled ‘India Market Monitor Q1 2023,’ highlights the increasing leasing activity and an excellent retail revolution in the region. “The retail supply is projected to surpass previous levels this year, fuelled by pent-up supply and the launch of investment-grade projects. Additionally, the development and occupancy of commercial real estate have been positively influenced by general economic growth and the push towards an entrepreneurial culture, which gained momentum due to the pandemic, particularly in the Grade “A” co-working spaces sector,” says Vikas Bhasin, Chairman and Managing Director, SAYA group.
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In Q1 2022, according to last year’s CBRE South Asia research, lease activity in India reached 11.4 million square feet, clocking an increase of 97% YoY. This
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