Noida (New Okhla Industrial Authority) is one of the few planned industrial townships in Asia. Besides the industrial space, more than 20% of the land is occupied by the Noida commercial property.
The Noida commercial property development is especially spread over the sectors 1 to 6, 10 to 16, 16A (film city), 18, 51, 51 and 57 to 62. Several modern commercial avenues are also built in the sectors like the 21, 28, 29 and 37. Due to the increasing demand for Noida commercial property, many A grade commercial projects like Express Tower sector 16A, Express Tower in Pipe Line and Logix Park of sector 16 are built.
Noida Commercial Property Market
Though the demand for Noida commercial property is gradually increasing, the price has been in check due to the adequate supply. The commercial properties in Noida fetch around 10% p.a. as rentals on the capital value. Hence, the commercial property market is ever booming.
Noida Office Space
The Indian as well as the MNCs find Noida to be one of the most preferred locations. In fact, the major backbone of the economy of Noida is formed by the IT & ITES. Most of the IT companies are located in the sectors 29, 57, 58, 59 & 60. Also, a large area in and around sector 18 consists of huge office complexes. Due to increase in IT spaces in Noida, the city has expanded to about 0.78 Million sq ft against the average demand of 0. 52 Million sq ft. Besides IT, Noida is soon becoming a common address for renowned BPOs.
Noida Retail Space
The sector 18 is the prime retail market of Noida. You would find high street shops as well as giant malls. The shops are available on rent and also on sale with the average size range of 200 - 500 sq ft. The Great India Place developed by the Unitech Group is located at Sector 38-A of Noida. It is a part of the large entertainment city amusement park and hosts a series of brands like Globus, Shopper's Stops, Pantaloons, Big Bazaar, Home Town, Lifestyle, Guess, Adidas, Nike, Marks and Spencer and such.
Noida Industrial Space
There are more than 7000 manufacturing units with an investment of Rs 15,000 crore. The Noida Software Technology Park (STP) is accounted to be country's second largest export turn over. Infotech Park (ITP) occupies 100 acres of land and is regarded as the Epicentre of Noida's industrial revolution. The Noida Export Processing Zone (NEPZ) is 100% export oriented unit and perhaps the only landlocked export processing zone of the country.