The Noida Expressway, a key artery connecting Noida and Greater Noida, has emerged as a preferred destination for commercial real estate growth. This corridor is witnessing substantial demand for high-street retail and office spaces, spurring significant stride in the area’s real estate development. Investors and buyers view it as a comprehensive hub for entertainment, recreation, and workspace.
According to the latest market insights, the retail space supply is positioned to rise by 45% from the current 91 mn sq ft across seven major cities by 2028, upholding the developers’ keenness to diversify their retail footprint. Delhi-NCR is expected to add 34% to its retail stock supply.
The prominent feature that makes the expressway a prime destination with high return potential is its strategic location and excellent connectivity to other hubs. It not only links Noida and Greater Noida but also connects to the Yamuna Expressway, providing direct access to numerous important cities in Uttar Pradesh. Its proximity to the upcoming Jewar Airport (Noida International Airport) has transformed the entire corridor, making it a hub for office and retail expansion. Besides, the upcoming metro expansion in the region has brought an upsurge in residential and commercial properties. This has led to increased property values and stimulated local businesses, thereby contributing to the overall socio-economic development of the region.
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Furthermore, with collaborative efforts between the Noida Authority, RITES, NHAI, and the irrigation department, a new highway is under construction, which will be parallel to the existing Noida Expressway. This strategic infrastructure development aims to address the anticipated surge in traffic due to Noida’s growing business activity and the upcoming Noida International Airport. Hence, this enhanced connectivity would further boost the region’s realty landscape.
Moreover, the vast infrastructural development is giving rise to a notable trend in this burgeoning market- the expansion of office and retail projects. The rise of startups, established companies, and small businesses have turned the expressway into a hotspot for employment opportunities. As a result, there is a surge in demand for commercial spaces in the region. Renowned companies like Tata Consultancy Services (TCS), Axis Bank, and leading IT companies have secured office spaces along the expressway and are driving the increased demand for premium office spaces. Astute investors can leverage this trend by investing in these spaces and acquiring great ROI.
Meanwhile, the underlying demand for diverse types of projects such as Shop-cum-Offices, mixed-use commercials, and high-street projects is upshooting in the corridor as end-users are viewing them as a nucleus of entertainment, recreation, and workspace, all rolled into one.
Recent reports denote domestic companies are expected to contribute to over 50% of the office demand in 2024, along with GCCs gaining further ground, accounting for over 40% of the total demand. Experts believe that with the advent of the Noida Expressway and Yamuna Expressway, Noida’s commercial real estate has thrived, bringing various investment avenues with retail and commercial property expansions.
Amidst diverse retail offerings, the Noida Expressway also presents significant appreciation potential, creating a favorable environment for retail investments. These combined factors ensure a substantial influx of customers and high returns on investment, solidifying the corridor’s status as a prime commercial real estate destination.
Hence, the Noida Expressway stands out as a dynamic and rapidly-evolving commercial real estate corridor, bolstered by strategic location, excellent connectivity, and ongoing infrastructure development. As the region continues to grow, it offers unparalleled opportunities for investors and businesses, ensuring sustained growth and prosperity for the foreseeable future.
(By Dr. Amish Bhutani, Managing Director, Group 108)
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