Factors Escalating the Sale of Retail Spaces in NCR

The sale of commercial office spaces in NCR is on an upswing now; the stagnation in the real estate industry has meltdown as NCR emerged as a new global property hub. The new generation MNC’s that are considering offshoring in India prioritize the national capital and hence NCR, as their base station; this is the main reason behind this development outburst.

The mushrooming MNC’s and base stations of industrial big shots, have created a whole new corporate niche in Noida; and the residents are now more western in their outlook and life style. As a result, commercialization was accelerated and today Indian metropolis is one of the largest and most potential global markets. This has set the local business and commerce activities thriving in this area, which led to a substantial rise in property demands; the leading builder groups were quick in acknowledging these demands and ventures like Wave Commercial Projects were launched.

Apart from this, another reason that has set things in motion for NCR is the large and diversified populace. The NCR region is the world’s second largest agglomeration with a population of over 22 lakhs, and no other market base can cover a consumer hub of this size. Launching a business here would mean, directly targeting this entire mass, which is an unparalleled exposure. Moreover the demand factor also triggers the growth of business here; the increasing consumer demands directly spur business activities. Thus multitude of consumers is one of the prime factor to galvanize the demand of commercial office space here.

Furthermore, this area claims the largest single handed share in India’s GDP rate; the NCR alone stands for approximately 8% of the boost in Indian economy. This displays the prosperity prevailing in this region. The per capita income is high and this region hosts a majority of wealthy individuals, hence encouraging commercial flow.

A combined effect of all these factors was a substantial growth in retail spaces, and this laid down the foundation for ambitious retail property projects such as Wave Commercial Projects; thus boosting the real estate sector in this region.