Noida’s commercial real estate, steered by rapid urbanization, economic progress, and ever-evolving business needs, has shown a remarkable growth graph in 2024. The commercial sector has experienced a significant surge in demand for office spaces, as technology leaders and multinational companies establish their operations in Noida.
Experts say that in the past five years, the improved connectivity of the city, coupled with immense infrastructure development, has played a pivotal role in the real estate boom in Noida. From multinational corporations establishing IT hubs and data centers to the ongoing development of the Noida International Airport in Jewar, the region has showcased its potential to attract global and domestic players.
According to the Mordor Intelligence report, the Indian commercial real estate market size is estimated at USD 40.71 billion in 2024 and is expected to reach USD 106.05 billion by 2029, growing at a CAGR of 21.10% during the forecast period (2024-2029). Amid this growth, the city has been displaying all signs of delivering a strong growth trajectory in 2025. With an unparalleled focus on infrastructure, technology integration, and eco-conscious practices, Noida has elevated commercial real estate to the next level.
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Commenting on this, Manoj Gaur, President, CREDAI-NCR, and CMD of the Gaurs Group, says, “Noida is already experiencing an upsurge in property prices, both in commercial and residential segments. Its growth trajectory is being driven by its visionary urban planning and world-class infrastructure. While metro and road connectivity ease commuting for residents and professionals in the city, game-changing developments like the Jewar Airport position Noida as a preferred choice for businesses. Hence, the real estate sector has ample opportunities to introduce exceptional commercial projects comprising tech parks and office and retail spaces, catering to diverse businesses. As Noida continues to appeal to global corporations and startups, we anticipate 2025 to be a defining year, with commercial real estate in Noida registering double-digit growth.”
Moreover, the rapid growth of India’s digital economy is fueling an unprecedented demand for data centers nationwide. According to Savills India, real estate demand for data centers is projected to rise by 15-18 million sq. ft. by 2025. With its reputation as a burgeoning tech hub, Noida stands at the forefront of this demand.
Further, as per a Cushman & Wakefield report, India’s current data center capacity across the top seven cities stands at 977 MW, with substantial growth on the horizon. Notably, Noida is poised to lead this expansion due to its ample land supply, strategic location near the national capital, flourishing real estate market, and strong government backing. These factors collectively position Noida to play a pivotal role in India’s data centre revolution, further solidifying its status as a tech powerhouse and attracting multinational corporations to establish IT offices and digital facilities in the region.
Sanchit Bhutani, MD, Group 108, says, “Noida’s commercial real estate market is witnessing exceptional growth, with micro-markets like the Noida-Greater Noida Expressway at the forefront. As global businesses expand their footprint in the city, the demand for specialized, Grade A office and retail spaces is accelerating. Furthermore, the upcoming Aqua Line Metro Extension will enhance connectivity to key business districts and the Jewar airport, further boosting the area’s dynamic business environment. As developers, we foresee a sustained surge in demand for premium commercial spaces in 2025, driven by the influx of multinational companies, startups, and tech hubs seeking strategic locations.”
Ajendra Singh, Vice President of Sales and Marketing, Spectrum@Metro, says, “The retail market in Noida is witnessing substantial growth driven by the city’s ongoing residential and commercial development. As more businesses and professionals flock to Noida and infrastructure develops, the demand for premium retail spaces rises. We see this as a unique opportunity to create integrated commercial and retail ecosystems that cater to an increasingly urban and affluent population.”
Thus, the year 2024 has been a pivotal year for Noida’s commercial real estate market, with key milestones achieved in infrastructure development, technology adoption, and sustainability initiatives. And, 2025 will continue to drive long-term growth, positioning Noida as a global commercial real estate hotspot.