Greater Noida West: A thriving real estate hotspot in NCR

Greater Noida West has emerged as a shining star in the real estate landscape of the National Capital Region. Strategically located near Noida and Greater Noida, this region, consisting of a cluster of prime sectors, has proven to be a goldmine for investors and buyers alike. The existing and proposed developments in Greater Noida West have significantly piqued the interest of potential buyers, investors, and developers.

According to an industry report, in Q1 2023, Greater Noida West is amongst the areas that witnessed increased development with maximum new property launches. With the existing residential units, the region has already lakhs of people residing in. Besides, the commercial segment in Greater Noida West is witnessing healthy growth with the established office and retail spaces. The region remains an attractive market for investors, offering promising prospects for the commercial realty domain.

A growing number of IT/ITeS/, Research & Consulting/ Manufacturing companies have also established themselves in Greater Noida West, transforming it into a bustling business hub. The office real estate market in Greater Noida West is witnessing a notable surge in demand buoyed by robust demand from dynamic industries and startups, thereby propelling the growth trajectory of the region to new heights.

Greater Noida West is well-connected to various sectors within Noida and Greater Noida, and also enjoys excellent connectivity via Delhi Meerut Expressway to Delhi, certain regions of Haryana, and UP. The recently-inaugurated Parthala flyover is a huge benefit for commuters coming to Noida – Greater Noida and Ghaziabad. Further, the bridge connects Noida – Greater Noida West and will ease traffic movements by cutting down travel time to 30 – 45 minutes. The Aqua line passing through Greater Noida (West) and connecting Knowledge Park will provide relief to lakhs of commuters residing in the region. The Delhi-Mumbai Freight Corridor is one of the key developments in Greater Noida as it offers a one-stop destination for freight companies and further amplifies the region’s potential as a desirable investment location. Additionally, the much-awaited Faridabad Noida Ghaziabad (FNG) corridor is nearing completion. Once fully operational, the 56-km long corridor will offer seamless and efficient connectivity, reducing the inconvenience caused by traffic snarls and bottlenecks. Besides, various reputed educational institutes are in the vicinity which promotes state-of-the-art infrastructure and attracts talent pool of academia and leadership in the region.

Besides garnering interest from various MNCs and startups, the region is undergoing a retail revolution, driven by millennials and the neo-rich section of the populace, a vast job market, and an improved livability index. The area is likely to have around 5 lakh apartments in the next 3-4 years, harboring an estimated population of 15 lakh residents. The region’s potential can be analysed with the fact that India’s second and North India’s first hyper-scale data centre is located in Greater Noida.

Owing to its exceptional connectivity to major landmarks, including the foundation laid for Jewar International Airport with an estimated investment of Rs. 30,000 crore, state-of-the-art data centers in Noida with a colossal investment of more than Rs 22,000 crore are signaling a prospective surge in demand for commercial spaces in the city. Also, the upcoming 400-crore Toy Park in Jewar, a Medical Device Park, Leather Park, 10,000 crore Film City across Yamuna Expressway, Textile Business Park, Handicraft Park, and Electronic Park, are likely to trigger a multiplier effect on the economy.

The combination of favorable government policies, increased housing options, and job opportunities have made Greater Noida West an attractive destination for those in search of residential, commercial, and retail spaces. This shining micro-market is a promising destination for commercial investment opportunities, driving retail space developers to position their projects in proximity to this burgeoning hub. Prestigious retail brands are also gearing up to establish their presence in the area, while distinguished global retail brands across fashion, lifestyle, footwear, and personal care segments are increasing their showroom footprint in Greater Noida West. Numerous upscale shopping malls and retail complexes, replete with recreational activities, are under construction, drawing modern homebuyers to seek abundant leisure options in the vicinity.

The region owes its impressive growth trajectory to a confluence of factors, spearheaded by a slew of government initiatives. Investors and developers have also played a crucial role in enhancing the region’s potential. With all stakeholders working in harmony, Greater Noida West’s real estate sector is poised for a meteoric rise in the coming years, surpassing other thriving real estate hubs in NCR.