Noida, close to the National Capital, is seeing a huge interest in real estate, especially offices. Bhupindra Singh from Colliers India, a real estate advisor, said that since 2020, about 10 million square feet of office space has been rented out in the city.
He talked about this at a real estate event called “The Growth Story of Noida,” hosted by CRC Group with ICCPL and CNBCTV18 at CRC The Flagship in Sector 140 A, Noida.
He compared the past decade with recent years and found that from 2010 to 2020, Noida rented about 10 million square feet of office space, but the same amount got leased just between 2020 and 2023. This shows a big increase in Noida’s office real estate and the need for more office spaces.
Singh thinks that rents for good office spaces will go up soon. Right now, renting an office here costs between Rs 40 and Rs 80 per square foot. He believes this will go higher because of more demand, and soon there might not be enough office spaces left.
At a discussion about Noida’s growth, Vidhi Dheri from CBRE, a real estate company, said that Noida attracts big companies from around the world because of its good infrastructure. Unlike some other nearby cities, Noida’s development is led by the authorities, making it more attractive for businesses.
Things like available land, good roads, skilled workers, and affordable rents are pulling investors to Noida, according to Dheri.
Ashutosh Kumar Kashyap, from Noida International Airport, talked about how the announcement of the Jewar airport made more people lease property in Noida and Greater Noida, especially along the Noida-Greater Noida Expressway.
Kunal Bhalla, who runs CRC Group, talked about Noida’s good roads, which are helping the city grow. He mentioned that more and more companies are moving here, especially along the Noida-Greater Noida Expressway, and said it’s important to focus on better connections and being eco-friendly for the city’s growth.
(Source: Moneycontrol)
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