Delhi-NCR has emerged as one of the most favored markets for optimistic growth in the retail and commercial real estate sector. The projected healthy growth in 2023 is primarily driven by the rising demand from start-ups and multinational companies (MNCs) looking to establish their operations and set up offices and warehouses. Additionally, initiatives such as the Noida Authority offering space for startups and the establishment of data centers in the region have further stimulated leasing activity in the commercial real estate market.
The demand for commercial office spaces in Noida, Greater Noida, and Yamuna Expressway remains strong, particularly from industries like IT, ITeS, BFSI, and large-scale manufacturing units. The recent Uttar Pradesh Global Investor Summit (UP GIS) 2023 has attracted domestic and foreign investments, while the state government’s efforts to create an investor-friendly environment have contributed to the region’s attractiveness for residential, business, and commercial activities.
The ongoing infrastructure development, including the Noida International Airport, the Jewar to New Delhi high-speed rail corridor, and the Freight Corridor at Bodaki, has further enhanced the region’s investment potential. The improved connectivity, expanding network of expressways and highways, and better law and order situation have benefited the overall real estate market.
The growing demand for commercial properties in Delhi-NCR has led to increased rental income, providing investors with a steady source of passive income and promising returns on investment over the long term. A-grade office spaces and retail rentals in Noida and Greater Noida are expected to gain significant traction due to rising demand.
Industry experts have expressed optimism about the future, anticipating even greater growth in retail space leasing and commercial real estate transactions. The initiation of new investors, luxury and international brands, and the expansion of existing brands to new locations in Delhi-NCR are positive indicators of the flourishing period ahead.
The rise in population and income equity in metropolitan cities and towns has created a favorable demand for commercial and retail projects, including society shops and small to mid-size shopping arcades. National and local brands are actively securing deals and occupying spaces in newly launched commercial and retail projects to tap into untapped demographics and establish long-term customer relationships.
The survey conducted by R&R By Rise highlights the positive sentiment among buyers, indicating good prospects for the real estate segment in Delhi-NCR. In addition to residential investment, the millennial population is showing interest in commercial real estate and income-producing properties that generate rental income and high returns on investment.
The robust demand for retail and commercial spaces in Delhi-NCR presents an exceptional opportunity for investors to capitalize on the growing market and benefit from the thriving real estate sector.
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