Greater Noida West: Emerging commercial and retail destination
From the day of launch, ‘Greater Noida West’ is the affordable housing destination. But in the coming years, this location will play a major role in developing retail, commercial and IT/ITeS zone for millions too. Vikas Jain, managing director of Sarvottam Group shares his view point.
After the residential growth, Noida became the new commercial hub for corporate, MNCs and retailers. Shopping malls such as Shopprix Mall, Sab Mall, Centre Stage Mall and Great India Palace (GIP) came into existence. And soon Noida got its first ‘High Street Market’, Sector-18. But due to proximity to Delhi and smooth connectivity through the metro, the rental values in the area rose rapidly.
Earlier people used to operate from an unorganised “Shopping Complex or Plaza” without ample parking space, necessary power back-up and other basic facilities such as meeting venue, food court, water supply, sanitation, green zone or lack of proper ventilation. But over a period of time, demand for office spaces has increased manifold. Since commercial places in Noida seem totally out of range of affordability, we explore new options offering ample space with good infrastructure, connectivity and affordable rental values.
In this scenario, Greater Noida West is an emerging location with opportunities in the commercial and retail categories. There are numerous projects lined up offering world-class infrastructure with an edge of mix-land use.
Due to globalisation, developers brought in the concept of mix-land use to fulfil demand for all categories. Now, commercial places are not only office space but juxtaposition of multiple retail floors, multiplexes, corporate suites, studio apartments, adjoining boutique hotel, IT/ITeS space and lockable space. There are also options of furnished and unfurnished office spaces. Today, professionals are looking for such options in order to manage everything in one place and to save on commuting time.
With large land bank and excellent connectivity, Greater Noida West offers a wholesome package for corporate, professionals and business conglomerates. Thus, if you want to avoid heavy rentals and traffic snarls, the area evolves as a potential option. Policy makers and authorities are also working towards the goal of making Greater Noida West a ‘Universal Place’ to live, work, play and enjoy.