Important Facts About Commercial Property in Noida
Noida, an acronym for New Okhla Industrial Development Authority) is undoubtedly one of the most developed shopping centers in India. In fact, the growing number of offices and shopping complexes has been given a facelift to the residential space here. Until some time ago, it, because of its association with East Delhi was not considered as developed as their counterparts as Gurgaon.
India is emerging as the IT capital of the world with Noida as its main operations center has been growing demand for commercial property in Noida for office space for rent. The stabilization process has already begun in recent weeks. Company does not decide then and now facing up to extend the good location. According to a study by a reliable source, the absorption of 4-5 million square feet of retail space was witnessed in the first quarter of 2009, which was higher than in the fourth quarter of 2008.
With the advent of new IT complexes, malls and multiplexes, it is witnessing unprecedented growth in trade. There are many companies that initially used to operate in the metropolitan areas, but are now more in the region extending from the periphery. Due to its immediacy to the capital, it draws many companies to invest in its retail space. There are many property at Noida Extension as well.
The existence of a multitude of IT companies in the IT hub adds to the value of retail space here. The main office spaces in Noida Sector are around 18, the most happening place in the city. These commercial spaces for rent are granted to potential investors and are occupied by several companies and IT corporate.
Demand for commercial properties here has soared and this is yet the best time to invest handsome. Industry insiders see a phenomenal growth in the near future. With better infrastructure and world class facilities, commercial properties in the city are the most sought. There are many property developers in India who developing and building real estate here.
It is one of the few planned industrial townships in Asia, is known for its commercial dynamism. Addition of industrial use, there is as much as 20 percent of the total space available and commercially used, and development is overwhelming.
The best factor about the commercial office space in Noida is that is basically divided into several sectors and not clustered in a particular area. Sector 1 to 6, 10, 16, 16A (Film City) 18, 51, 52 and 57 to 62 are the sectors that boast hip markets, larger than life shopping centers and offices, while a lot of commercial avenues have also come in the sector 21, 28, 29 and 37.
These sectors enjoy popularity not only for its commercial dynamism, but also for its nearness to the capital. In fact, these sectors are also considered posh areas to live. According to a report, the rate of resale of the property (both offices and retail outlets) ranges between Rs 2,500 to 18,000 square. Feet and rental values range from 75 rupees to Rest 300 per square foot (rates may vary from one sector to another and according to market conditions).
Ritika Deshmukh is one of the Real Estate Adviser having more than 12 years of experience to discuss about residential properties in noida for everyone. There are now a days a large number of pojects in noida extension are running but civitech.in is the one of the best offering Real Estate Agent.
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