Why Noida Expressway is the Next Big Thing in Retail Real Estate
Noida Expressway is becoming the most preferable destination for retail space supply boost
Retail Real EstateNoida ExpresswayCommercial Real EstateIndiaProperty InvestmentReal Estate NewsMay 28, 2024
India’s commercial real estate is undergoing a palmy period with its market size valued at USD 40.71 billion (2024) and is anticipated to upsize at a CAGR of 21.10% and reach USD 106.05 billion by 2029, according to Mordor Intelligence’s study.
Connectivity, by far, is the most studied and central aspect of a corridor creating buzz and attracting investors. In the case of the Noida Expressway, a sole factor is not responsible. It not only offers seamless connectivity between Noida and Greater Noida but also to Yamuna Expressway which directly links it to many important cities of Uttar Pradesh and most importantly, to the upcoming Jewar Airport or Noida International Airport.
The industry forecasts for office, as well as retail space leases, reveal fascinating statistics. As per a joint study by FICCI & Colliers International, over 50% of office demand is most likely to crop up from domestic companies in 2024. While Grade-A office spaces will be at the top of the game alluring plentiful investors, flex working spaces will also attract 15-20% of the overall leasing.
In addition to confidence-boosting figures, the local environment also plays a dominant role in pulling crowds and attracting investors to a particular region. Noida Expressway is supported by a well-planned urban development, with wide roads, ample parking, and modern amenities, making it highly attractive for retail businesses.
Undergirding a vociferous demand for diverse retail offerings, Government initiatives, such as supportive policies and the Smart City project, have also created a level-playing field for new and seasoned retail developers to launch their projects and boosting the expressway’s appeal by providing state-of-the-art infrastructure and quality living.
Noida Expressway is a 24.53 km long expressway that connects Noida to Greater Noida, providing seamless connectivity to the surrounding regions.
Orion One 32 is a leading real estate developer in India, known for its innovative projects and commitment to quality living. Dushyant Singh is the Director of Orion One 32 and has been instrumental in shaping the company's vision and strategy.
Frequently Asked Questions
What is the current market size of India's commercial real estate?
USD 40 71 billion (2024)
What is the expected CAGR of India's commercial real estate market?
21 10%
What is the significance of Noida Expressway in terms of connectivity?
It offers seamless connectivity between Noida and Greater Noida as well as to Yamuna Expressway which directly links it to many important cities of Uttar Pradesh and the upcoming Jewar Airport or Noida International Airport
What is the expected growth in retail real estate space supply across seven major cities by 2028?
45% from the current 91 mn sq ft
What is the role of Government initiatives in promoting retail developments in Noida Expressway?
Government initiatives such as supportive policies and the Smart City project have created a level-playing field for new and seasoned retail developers to launch their projects and boosted the expressway’s appeal by providing state-of-the-art infrastructure and quality living
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