Noida – a Paradise for Abode & Personnel

November 12, 2007

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New Okhla Industrial Development Authority (Noida) is known to be the largest industrial town of Asia, but now it has undergone a paradigm shift in the last few years. The real estate in Noida is hitting the sky, which is due to a large migration of people from Delhi who are being bullish to make it their home. As a part of Uttar Pradesh, Noida cannot remain untouched by the problems prevailing in the state. Despite all, the individuals who have shifted their base to Noida witness to live a splendid life. And today with one more reason for all the real estate players in Noida is none other than the proposed second international airport at Greater Noida. The development is likely to give a push to prices of residential and commercial property projects in twin cities of Noida and Greater Noida.

Noida certainly benefits from the relative proximity to Delhi. Excellent network of roads, 100 per cent power back up make up for a good idea to stay here. Also, Noida is attracting large interests from young well to do professionals who are making the highest income tax paying district in UP. Even many prominent names in both domestic and international hospitality sector are to initiate exclusive five-star hotel projects in Greater Noida. The list includes Unitech, Carlson, ITC, Bharat Hotels, and NRI hotelier Sant Chatwal. To be located in the close proximity to the proposed international airport, these commercial establishments will enjoy an added advantage.

According to Mr. M L Sehjpal, Director of Pearls Infrastructure Projects Limited, “Noida has developed into the land of opportunities. Property demand has sky rocketed here. Housing opportunities are in great demand as are commercial spaces. Moreover, the demand for residential property in Noida and Greater Noida is likely to shoot up in very near future, feels industry watchers. In the wake of better infrastructure facilities, Greater Noida already gains preference over Gurgaon. A direct metro link with Delhi and the Expressway will further improve accessibility of Noida.”

As conglomerates, Indian corporate is scouting for commercial spaces; NOIDA is emerging as a preferred IT & ITES destination of India. Real estate developers in Noida in their bid to lure investors are coming up with state-of-the-art office spaces as per international standards. Mr. Harjeet singh Arora, MD, Best Groups, “There is an excellent potential in India and abroad as there is a lot of movement in corporate circles as India’s large, educated middle class has made its name in the field of software and IT-enabled services, thereby fuelling demand for about 40 million square feet annually in IT and ITES office space. With the sudden jump in demand for space, the real sector is witnessing a huge charn.” Best is also coming up with an IT Park in Greater Noida.

Futuristic Plan of Noida

Plans are to set up a multipurpose SEZ (Special Economic Zone) spread on 2,500 acres of land along the Expressway envisioned to be categorically divided into industrial, residential, recreation, commercial and facilities. Within this plan, 600-1000 acres of land has been earmarked for handicrafts related SEZ. The much-awaited Noida City Center between sectors 25A and 32 is also a futuristic offspring of this plan.

Noida authority is looking forward to set up a medical city on a spread of 50+ acre of land along the expressway to be named Arogya Dham. This medical city shall be a congregation of super-specialty hospitals with world – class facilities and matching commercial complex, attendant’s homes and plenty of open space thanks to wide roads, parks and green cover.

The Botanic Garden of Indian Republic (BGIR) is being set up on a spread of 200 acres in sector 38A to conserve the endangered plants of the country and showcase its near extinction plan diversity.