Noida: A Prominent Destination for Commercial Properties

Due to heavy impact of globalisation, people are more influenced towards modern living styles and themes as they feel that it more relaxing, entertaining and comforting. At one hand where people are asking for comfortable living, big companies are looking for cheaper floor rates with innovative design solutions. Seeing the current demand of the market, the Viridian RED project WTC Noida, promised to offer the best modern amenities in the project and something unique to the buyers.

The Noida World Trade Centre is expected to be a gateway for trade and commerce for rest of Uttar Pradesh as well as northern part of India.

Already known as the commercial hub of NCR, Greater Noida has been witnessing enormous appearance of real estate developers for past few years and thus, property appreciation.

Noida: The Next Commercial Hub

For the long run, regions on the edge of Noida and Greater Noida, are fast emerging as the key commercial realty hot spots in NCR. Noida has emerged as a hot spot for IT and MNCs setting up their businesses here. The city is becoming the preferred destinations for companies offering IT, ITeS, BPO, BTO and KPO services in various domains such as banking, financial services, insurance, pharma, auto, FMCG and manufacturing.

A very prominent shift took place last year when Vivo Mobile, a mobile handset manufacturer shifted their operations to WTC Noida. The World Trade Center, the Viridian RED project, Noida is the biggest WTC in the world yet, at 44 acres. The one second to it is located in Beijing, China at 43 acres. With recent shift and innovative changes in the commercial space, it would be really fascinating to witness the growth of realty sector and especially commercial development in Noida. 

Big Brands coming to Noida

1.    The market for telecommunications is huge and has repeatedly seen surplus growth right from the times of 2G and now progressing towards 5G. It is not a surprise that VIVO mobiles grabbed the opportunity and established it well in advance for the upcoming competitions. On having acquired 7 Lakh sq.ft. of operational area at WTC Noida VIVO mobiles is now seen as a threat to competitors in this huge customer base that comprises of areas like Noida, Greater Noida, Ghaziabad, Aligarh, Yamuna Expressway, South-East Delhi, East Delhi and Delhi-NCR as a whole. Extensive branding and promotional campaigns will bring customers right next to WTC Noida and add to the huge database for VIVO mobiles.

Viridian Red has constructively developed WTC Noida facility for ease of business through time-management, people-management, logistical support and cost-effectiveness all under one roof. There is an international approach in how WTC functions and provides opportunities for businesses to experience on-job work experience through cross-company interaction, again all within one roof. WTC is one such destination where new start-ups can see themselves grow at a rapid pace after coming in contact with established business houses. It must be said that connecting with the right people and communicating the right vision can lead any business to grow beyond expectation.

Good connectivity is all about bringing people together

1.    When we talk of connectivity it should also mean connecting through communicating. The best way to communicated at an initial level is via mobile phones. Telecom operators are providing best of services under given spectrum to meet the rising customer demand for faster and smoother communication.

Possibly the reason VIVO mobiles is the first company to acquire the large operational area at WTC Noida. This step from VIVO mobile prompted WTC to offer the Noida facility as MOX to telecom operators and service providers, and also mobile phone companies. Imagine manufacturers and service providers coming under one-roof and working for a common goal, i.e. of better connectivity. A healthy competition will see them offer best of possible services for the benefit of their customers. This in return will lead to surplus revenue generation possibly because there will be more customer engagement activities and smoother resolving of disputes all under one roof.

This will be a chance for visionary start-ups to set its base at WTC Noida and flow with the current towards mutual growth under experienced guidance from established companies. There will be a large scale employment opportunity of people from Noida and Greater Noida, as well as Ghaziabad. The government of Uttar Pradesh is likely to benefit from this futuristic endeavour from WTC and Viridian Red due to employment generation and connecting with millions of subscribers for informative promotions towards awareness of developmental activities.

It is to be noted that good connectivity is all about bringing people together and keeping them aware of the constructive developments for the benefit of the people itself. Connecting with right message opens up the mind to receive more information on awareness and instructs the mind to motivate oneself for community growth. Therefore largely connecting people from Noida and Greater Noida to the world beyond their near reach.

Commercial deals rising in Noida

Constructive government policies, skilled IT resources and outstanding infrastructure facilities, making Noida one of the top destinations for commercial properties. The commercial market space in Noida is witnessing tremendous growth in terms of value as well as volume. The strong growth in commercial office market and expected buoyancy has spurred substantial demand for residential apartments in the city. With abundant housing options, combined with promising infrastructure, commercial office market is expected to further attract both end-users and investors in this region.

The Government has taken many steps to create an environment of growth for the sector by applying RERA and other guidelines for timely completion of the project and eliminating fraud from the sector. Meeting all the Government’s guidelines the Viridian Project WTC Noida delivered Phase 1 on time. The first phase of WTC Noida saw a 100% Occupancy from day one and the full occupancy of WTC Noida Phase 1 shows the rising demand for the quality commercial spaces.

In NCR, Greater Noida came up as an unparalleled choice for a strategic location for the iconic World Trade Center simply because it is the most promising city in the region today.

The Future of REIT’s in India and its impact the commercial real estate market

Currently, there is about 160 msf of Grade A office space that is scheduled to be ready between 2016 and 2019 in the top 8 cities i.e. Mumbai, Delhi-NCR, Pune, Bangalore, Hyderabad, Kolkata, Chennai, Ahmedabad. These cities already account for about 415 msf of Grade A operational office spaces as of December 2015. This completed inventory gives REITs an opportunity to generate an estimated rental income of USD 5.4 billion, added to which the upcoming Grade A supply between 2016-2019 gives a potential incremental rental income of USD 2.5 billion by 2019.

The commercial real estate market in Noida has shown an upsurge in last few quarters. Moreover, the state government is going to develop a mobile & technology manufacturing hub around Noida and Greater Noida. Area wise, WTC Noida is WTCA's largest operating WTC, second to Beijing, China. The project is being developed by Viridian RED. These developments have encouraged many MNCs to shift their base to Noida. One such shift happened last year when Vivo Mobile, a mobile handset manufacturer shifted their operations to WTC Noida.

Noida Preferred Destinations For Commercial Projects

With enhanced infrastructure, world-class residential, commercial and educational facilities the city has not only engrossed maximum home-buyers but also big corporates, start-ups and PSU’s. With high end infrastructure and premium facilities, the city has become a rapid-developing real estate destination in comparison with other areas in Delhi/NCR. The office market in Noida is gaining traction due to availability of quality office space at lower rentals compared to Delhi and Gurgaon and presence of excellent infrastructure.

Recently, it has been observed that majorly big conglomerates are shifting their offices in Noida and suburb. One such shift happened last year when Vivo Mobile, a mobile handset manufacturer shifted their operations to WTC Noida. 

The Viridian Red project World Trade Center Noida saw 100% Occupancy for its first phase and after seeing the huge demand it is developing the third and final phase and aims to complete it by the year 2020.