
Over the past few months, there has been a lot of buzz on the ‘Return to Office’ trend across the world in the corporate setting. Noida, a city in the National Capital Region (NCR) of India, is one city that is steadily increasing its relevance in the mixed-used developments. TCS joining the bandwagon has had a ripple effect on the entire real estate industry in Noida that is centered around the office space.
1. The Rise of Mixed-Use Developments in Noida
Multinational corporations have seen an increase in their presence in this strategically located city over the years. This has had a bearing on several aspects across the noida real estate scene and its conducive market has made it easier for the demand to be placed. As such, there are various areas within the Greater Noida sector which have begun garnering the attention of investors looking for value buys within Delhi-NCR.
Buoyed by boom, one of the features that stands out in the real estate market of Noida is the emergence of mixed-use developments. These projects amalgamate residential, commercial and retail spaces and cater to the lifestyle of consumers which in turn ensures that the standard of living for the residents is easy, effective, and above all, active. It is the combination of retail space, world class malls, recreational spaces, greenery, and the rest that supports the development features addressing the modern day sectional needs.
2. The Determinants that Led the Change in Noida’s Real Estate Market
Increased Demand for Office Space: The demand for office spaces in Noida has seen a remarkable surge as the work from home (WFH) culture fades. Between them, IT industries have taken the lead citing lack of in-person working environments, creating, building, and improving ideas, and other interpersonal activities as the problem for their widespread shift.
Rising Prices of Office Space: The growth in demand for office space in and around Noida was bound to result in an increase in prices, and in turn enabling an increase in developments. This is upward growth simply means that the environment is ripe for investors and developers looking to venture into the deceptively vast real estate market of the city.
Expansion of the Business Centers: In recent years, Noida witnessed the growth of its business centers, e.g., Sector 135 and Sector 140. This expansion was spearheaded by the relocation of many companies in search for modern well-appointed office premises. Their amenity range is comprehensive, from advanced food courts to shopping centers and fully stocked gyms that suit all businesses.
Investment Rush into Commercial Infrastructure: In order to meet the ever-growing demand for office space in Noida, developers are making heavy investments in commercial real estate. The outcome is the launching of a number of new office developments that are going on in various locations throughout the city.
3. Effects on Demand for Residential Properties in Noida
The trend of returning to office sites is also positively affecting the demand for house properties in Noida. With employees and professionals resuming work in physical offices, the need for residence which is in close proximity to office has increased. The increased supply of housing has in turn driven up both sales and rentals of houses in Noida.
4. Conclusion
With an on-going desire for more integrated live/work spaces, it is likely that mixed use developments in Noida will look to be an important driver going forward in furthering the evolution of the built form in the area. Notably, investors, developers as well as residents should be mindful of the real estate market in Noida as it is favourable, easy to sustain, and vibrant. The return to office discourse is bringing about changes in Noida in as far as the real estate market is concerned, and untapped possibilities still exist.
If you are looking to be part of Noida’s real estate scene or are interested in the potential that it harbors, the time is now as they say during a great transition. Dream Location has professional office buildings, or residential properties, among a variety of property choices. The best might be yet to come in the real estate market of Noida.
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