Flourishing Noida & Its Real Estate Growth

India’s rapid economic growth is fueled by a few major industrial hubs and NODIA inarguably makes a mark on that list. Commerce is the core of economic development and New Okhla Industrial Development Authority better known as NODIA surely knows it. This city merely 20 kilometers away from Delhi certainly is one of the best planned cities in India. NODIA‘s planning has inspired the government to implement the same strategies to other cities in UP for a swift growth in economy. Many leading companies have moved their head offices to NODIA due the Special Economic Zone (SEZ) status received to some areas in NODIA and its close proximity to Delhi. Accenture, Samsung, Fujitsu, Reliance, Tata, Mahindra, BHEL, CNBC are just a few big name that have their corporate offices in NODIA.

Sector 18 deserves a mention while discussing commercial and office spaces in Noida; it is the centre for all the commercial activities in the city. This sector in particular has many integrated shopping malls and classy hotels which make this area a priority for anyone looking to set up an office. Sector 18 actually gets better with NODIA’s 99-hectare City Centre on its way, which will consist of a blend of commercial and residential schemes. Such well planned projects in this sector will invite a huge demand resulting in property rate hike.

Commercial property rate in NODIA have already skyrocketed, land here costs approximately RS. 650000 per square meter, which is as good as buying land in any major cities around the world like Tokyo, New York and London. The amount may seem ridiculous, but there is a good reason why people are ready to spend so much; the reason is obviously assured returns on their investments. In 2005 NODIA announced the construction of the world’s tallest building (135 stories) as a part of the city centre project, but the plan was later scrapped due to some environmental issues.

Huge expressways and connectivity with the Delhi metro make NODIA much more easily accessible which is yet another good reason to start hunting for an office in NODIA for a newbie. Commercial office space in Noida is not difficult to find but one will have to pay the right price for it and the right price is always huge. Affording a commercial property here may be taken as an indication that business is going strong. Any organization with an office in NODIA clearly sticks to the rule of “no funny business”.