The Noida Expressway is a principal corridor harboring unlimited potential. Built with a clear purpose to decongest National Highway- 2, it establishes a direct connectivity channel between Delhi and Noida and further stretches to Greater Noida.
According to Anarock’s ‘Noida Expressway- Micro Market Overview Report’ published in 2018, Noida Expressway has undergone a rapid upshift in the presence of commercial spaces such as multi-national BPOs and IT-ITes firms over the past couple of years. The study also encapsulated that the symmetrical growth of infrastructure apparatus and connectivity has also contributed to the advent of good civic facilities and residential projects in the region. Also, the 6-lane Noida Expressway’s multi-nodal connectivity with Yamuna Expressway, DND Flyway, and FNG Expressway adds immense value to the corridor.
As per media reports, the Noida-Greater Noida-Yamuna Expressway belt is transforming into a mushrooming investment epicenter with prominent IT companies, data centers, and telecom brands showing a proclivity to invest in the region for their future expansion plans and projects. The belt has a latent potential to emerge as a thriving tech hub which could perhaps surpass the hegemony of established tech hubs like Gurgaon, Bengaluru, Hyderabad, and Pune. The Noida-Greater Noida-Yamuna Expressway belt has also garnered primacy due to the ongoing construction of Noida International Airport or Jewar Airport, causing the property appreciation values to dramatically grow upwards of regions in the vicinity.
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Along the Noida Expressway, there is a brisk growth of residential havens overlapping with an upsize in commercial projects. Sectors close to the Noida Expressway have emerged as prosperous commercial real estate hotspots such as Sector 132. With old residential colonies and corridors touching the brink of overpopulation and developmental apogee, there has been a demographic shift, and therefore, rapid urbanization in new corridors and residential/commercial zones is a continuous process. The newer realities have also emboldened developers to expand territories and launch projects in newer locations. Sector 132 is one such untapped territory witnessing a slew of developments in the commercial real estate spaces such as the rise of high-street commercials, IT-ITes, and malls.
Sector 132 has a sizeable housing population, which invariably creates a solid demand for retail and commercial spaces. Over the last few years, in particular, a strong genesis for modernized commercial and retail projects is worth noticing. The entertainment retail space lease has seen a staggering rise which comprises multiplexes, children’s play areas, and gaming zones According to a CBRE report in January, the entertainment segment undertook a lion’s share in retail space leasing and saw a 179 percent year-on-year (YOY) growth across seven big cities in 2023 indicating an increase from 5% in 2022 to 9% in 2023. Delhi-NCR underscored the entertainment retail space lease of 70,000 sq ft.
The figures indicate that the underlying demand for retail and commercial developments is buoyant and engulfs new and exciting corridors. Sector 132 has become an oasis for prime commercial and IT-ITes projects which underlie new horizons for investments and employment.
(By Dushyant Singh, Director, Orion One 32. Views are personal)