Owing to the opportunities available in the National Capital Region (NCR) it has turned into a black hole attracting people who seek a better life. Gurugram and Noida, in particular, have emerged as a real estate hub in the region.
Gurugram has witnessed rapid development in the last two decades. The saturation of development in the heart of the city led to the emergence of New Gurugram. It has made a strong presence on the map of real estate luring investments in residential and commercial projects alike. The region has connectivity to NH-8 and enjoys proximity to the airport. The SNB RRTS Corridor and the KMP expressway are other major projects in the offing which would ensure robust growth of businesses and provide ease of access to the residents.
Mr. Amit Kaicker, Business Head, DLF, New Gurugram said, “The new sectors of Gurugram are fast developing in terms of connectivity as well as social infrastructure. These factors work in harmony to create a perfect ecosystem for investment in the region. The developments around New Gurgaon are a mix of residential and commercial set-ups which will see a high rate of appreciation.”
Noida is one of the better-planned cities of the NCR; it has been a natural choice for home buyers for more than a decade. Owing to the ease of connectivity through Yamuna, Noida, FNG, and Eastern Peripheral Expressways, Noida has been attracting manufacturers and industry majors to invest in the region. This has spiralled growth of a supply chain which is supporting these manufacturing giants and helped region in emerging as a business hub.
Mr. Ashish Arora, Director-Distribution, Viridian RED said, "The industry has witnessed high growth because of increased penetration of e-commerce and demand for quality workplaces. Also, with the impetus in the telecom sector, we have seen a surge in demand of commercial real estate in the MoX (Mobile Open Exchange) zone in Noida region. With the various measures that the government is taking to grow the economy, we expect to see a significant rise in demand in the commercial real estate segment across key markets including Delhi NCR."
The upcoming international airport at Jewar in Greater Noida will give fillip to the economic activity around Noida and Greater Noida eventually boosting the demand for commercial space.
A substantial development is taking place in sector 150. One of the largest sectors with 600 acres of land is emerging as most sought after location for commercial as well as residential properties.
Mr. Ashish Sarin, CEO, AlphaCorp said, “Noida Sector 150 is emerging as a lucrative investment destination for realty projects. Besides seamless connectivity and huge green cover as its USP, the best in class infrastructure and sports city are the major attractions in the region. The sector has the lowest density of development, attracting premium clients who seek a fine lifestyle away from the suffocation of the city, yet connected well with all key hubs.”
According to Anarock, the region will deliver the highest number of housing units (60,070) by the end of 2020. On the other hand the demand for grade A offices has also witnessed a jump. It is expected that by December end office supply would rise to 43.3 million sq. ft. as against 38.8 million sq. ft. in 2018. The data shows that the New Year would bring buoyant days.