Noida–Greater Noida Expressway to appear as the new economic corridor in Delhi NCR

noida expresswayFor the Delhi-NCR office market, the two stalwarts are Gurgaon and Noida, and this is a proven fact. For the current office stock, they have monopolized the 75% of 140 mn sq ft. Both of them act as the attracting matter for infrastructure and employment in the National Capital Region.  Their influence is visible from the point that they incorporate 85–90% of the total annual off take of the city. Furthermore, the robust infrastructure and excellent connectivity have attracted the occupiers to set up their base in these markets, thus, forming a surplus of professional employment opportunities.  The lead was taken away by Gurgaon from Noida regarding absorption and supply of office spaces in NCR with the launch of many zones like Golf Course Road, DLF Cyber city and Sohna Road that lead in transactions. On the other hand, Noida failed in developing that interest from occupiers.

Since past few years, the fortunes of both Noida and the Noida–Greater Noida Expressway have been on the upswing. The expressway has come out emerging slowly as a new commercial corridor in NCR.

The peculiarity of this passage is its seamless connectivity with Delhi via DND or Delhi–Noida–Direct Flyway, which will be increased further by the forthcoming Noida–Greater Noida Metro link. The opening of this metro link will add enormous importance to the connectivity between Noida and Greater Noida. Also, the opening of this link will draw those companies to set up base here in this corridor which was discouraged previously by the poor connectivity.

The Information Technology Policy of Uttar Pradesh for IT/ITeS companies will encourage the attitudes of the market further, with incentives like waivers in land registration for IT businesses to accelerate growth. The authority of Noida has reserved nearly 3 lakh sq m of land for development alongside the expressway and has presented portions to 15 companies, comprising IT major Infosys, to set up its campus on 1 lakh sq. m of land.

 

Leave a Reply

Your email address will not be published. Required fields are marked *