Authored by : Jitendra Goyal, Sales Director, Trisol RED
Noida has for long been one of the most favored investment destinations, and its attraction is only getting stronger by the day. With world-class infrastructure and fantastic connectivity to most of the prominent areas of Delhi NCR, the commercial and retail spaces of the city are increasingly becoming an attractive proposition for investors. With its strategic location and well-planned development, this smart city will, in the near future, bring high returns, thereby making it a beneficial choice for smart investors.
Once largely residential areas, now Noida and Greater Noida are leading in the retail revolution, thanks to various infrastructural developments and planned policies. The initiation of projects such as luxury residential complexes and humongous commercial spaces brings Noida into the limelight. All these developments have not only met the rising demand for housing but have also provided an evident ground for business and employment leasing to contribute to economic growth.
This real estate boom actually proved to be quite instrumental in giving shape to Noida as a buoyant economic center.
The Noida-Greater Noida Expressway has other progressive heads of excellence, for instance, that of connectivity, infrastructure, population density, and too much urban development. It offers great connectivity to the under-construction Noida International Airport, also known as Jewar Airport, through the Yamuna Expressway, with a travel time to the facility of within an hour. Further, NMRC’s Aqua Metro line enhances accessibility between Noida and major locations in Greater Noida, including Pari Chowk and Knowledge Park, adding more value to the Expressway.
It is also conveniently located close to the Yamuna Expressway, which places it near major cities and religious destinations in Uttar Pradesh, not to mention the FNG Expressway.
According to the latest research by JLL India, the top seven Indian cities—Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai—are likely to add more than 45 million square feet of retail real estate through 88 new projects. Historically, this growth would probably outpace the overall quantum of total retail space added in the last ten years of around 38 million square feet during 2014–2023, and Delhi-NCR will contribute 34% to this new retail space.
Noida Expressway is an emerging destination for commercial and retail developers, with the increasing demand for quality office space, shopping malls, and retail outlets driven by the increasing resident population in the area. With rising global travel, consumer expectations have surged, and engagement in more experiential retailing is the desire. Large-scale mixed-use developments integrating shopping, entertainment, and dining are transforming into self-sufficient places meeting today’s shoppers’ needs. The Delhi NCR region expects to capture the maximum supply of this new retail space within the next five years at 43%, followed by Hyderabad at 21% and Chennai at 13%.
The retail real estate sector in Noida and Greater Noida is experiencing dynamic growth due to the existence of some of the most renowned shopping centers in India. The phenomenon is most apparent in this city because it hosts leading retail centers like DLF Mall of India, which is one of the most prominent malls in India, and the Great India Place, a destination for shopping and cinema. Further, some very famous centers, such as the Omaxe Connaught Place and the Gaur City Mall, have come up in Greater Noida, adding further to the retail appeal of the cities. Increased consumer demand and the strategic location of the place as a commercial hotspot drive the retail real estate boom, making the place a focal point for the pandemonium of shoppers and developers alike.
The Yamuna Expressway Industrial Development Authority has launched a scheme that accelerates commercial growth in Greater Noida. According to sources close to the development, it supposedly wants to incentivize and support businesses looking at setting up or expanding into the chosen area. Coverage may include infrastructure subsidies, streamlined regulatory processes, and new commercial venture financial incentives. This initiative aims to glorify Greater Noida’s outlook as a commercial hub and will attract massive investment into the region.
The evolution of Noida and Greater Noida from urban sprawl to retail powerhouses is a prime example of how strategic development and infrastructure investment can drive economic growth. With Jewar Airport on the horizon and supportive government policies in place, these regions are well-positioned to continue their trajectory towards becoming key players in India’s retail and commercial landscape.