Noida developed during the time of 70s is counted as one of the largest planned industrial towns in Asia. Spread across 1400 Sq Km and located adjacent to the national capital, Noida has a population of over 800,000. It is not just a popular suburb of New Delhi but is also the most prosperous district of the province of UP. The average household income of Noida is INR 671,000, which places it ahead of Gurgaon, another popular suburb of Delhi, located in the state of Haryana.
Since coming into existence, Noida has evolved into a thriving metropolis, known for its top-quality infrastructure and improved social facilities, which resulted in people migrating to Noida from Delhi as well as other parts of North India.
Today, Noida is well known for thriving residential communities, state-of-the-art retail, and large-sized commercial complexes. Besides, it is also touted as an emerging industrial hub for a wide range of industries such as electronic appliances, textiles, data centers, hosiers & handicrafts, power & energy, logistics, etc. During 2016-21, Noida received a total investment of ~ USD 9 billion, resulting in 450,000 new jobs.
Noida has become a hotspot for Warehousing and Industrial Real Estate, backed by better connectivity, improved infrastructure, and lower rental rates. All that has contributed to building a strong base for the city and has attracted numerous businesses, manufacturers, e-commerce companies, big retail houses such as Ikea, etc. The India Watch has researched the improving infrastructure of Noida, which has brought the city the limelight it deserved.
Seamless Connectivity: Unfolding infrastructure development, especially logistics development will entail a major impact on the infrastructure of Noida. After a successful widening of NH-24, which many believe is the lifeline of the Noida region, connecting it with the national capital has been done, and many other things fell into place. The region is also connected to Mayur Vihar in the national capital, through a flyover.
In January, the Yamuna Bridge has been constructed between Greater Noida and Faridabad, which will now shorten the commute time between the places to ~ 20 mins. This will also bring the Greater Noida region closer to the Delhi-Mumbai expressway.
Not forgetting the new metro lines that were carved out that has aggressively increased the connectivity in the region. These lines comprised the 11 Km line connecting the Botanical Garden Metro Station with Sector-142 in Expressway and the 15 Km long line connecting Sector-71, Noida with Knowledge Park V, Greater Noida. While the previous improved connectivity for crucial industrial and IT/ITeS hubs in Expressway, the later-mentioned improved connectivity in the upcoming employment hubs in the Noida Extension.
Further, the 56 Km Faridabad-Noida-Ghaziabad (FNG) Expressway is soon to be completed, which enhances connectivity between Haryana & UP bypassing Delhi. Once finished, FNG is assumed to attract more investment from UP in Noida’s real estate market in the coming future.
Yamuna Expressway will still require some time before it transforms into a self-sufficient urban catchment. However, with a host of major tourism infrastructure projects, including Jewar airport, wildlife night safari & sporting complexes in offing, the micro-market grasps all the power to leave a mark on the world map as a prominent international trade and residential destination.
The ambitious Jewar project which is built on the Yamuna expressway at a budget of USD 4.1 billion, will be one of the biggest airports in India. After the first phase, which will begin by 2024, the annual capacity of the airport will be 12 million. Its total annual capacity in the future will be 70 million. Over the next two decades, the Jewar airport project will be augmented with building extensive capacity for logistic handling. The annual capacity of the Jewar airport will be close to 2.5- 3 million tons of cargo, making it a critical node in the Indian supply chain.
Plenty of Industrial Sectors: Noida has plenty of popular industrial sectors and manufacturing hubs. Compared to other major markets, such as Gurugram, Noida’s land price is also relatively affordable. As a result, many businesses, companies, and enterprises have shifted to the city. The leasing rates of industrial spaces and warehouses are much cheaper in Noida, compared to Gurgaon. In industrial zones, one can lease out spaces in the range of INR 25-35/ Sq Ft. Adding to that, new working spaces are coming across the Yamuna expressway in the vicinity of the airport. The government is creating dedicated business parks for medical devices & equipment, electronic goods & smart phones, textiles, handicrafts, etc. These parks will have plug-play manufacturing units as well as common facilities and infrastructure support, thereby incentivizing manufacturing companies from all over the world to come and operate.
Well-planned residential Societies: Noida has gone through a terrific transformation over the years. It has plenty of well-planned residential and housing societies, comprising high rises, low rises, and villas. They have modern amenities, are equipped with modern retail options, and have a well-planned infrastructure. The housing societies in Noida act as a backbone for its growing industrial and warehouse sector, by offering employees suitable living and lifestyle. Good residential societies are also instrumental in attracting top-quality human resources from various parts of India.
Upbeat office sector: Growing manufacturing industries do not just need industrial lands, warehouses, and logistics but also well-managed commercial spaces to run offices, regional headquarters, distributor offices, back offices, etc. In tandem with its growth, the commercial sector in Noida has also risen steadily over the years. The city has plenty of well-managed Grade- A office spaces, IT parks, business parks, etc. The office leasing rates are also relatively low as compared to South Delhi and Gurgaon. Modern and well-equipped offices are one of its core strengths.
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