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Greater Noida West has become a prominent figure in the National Capital Region real estate market.

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Greater Noida West has become a prominent figure in the National Capital Region real estate market.

  • 06 Aug 2023

Greater Noida West has become a prominent figure in the National Capital Region's real estate market. This location, which consists of a collection of key sectors and is strategically placed close to Noida and Greater Noida, has established itself as a goldmine for both buyers and investors. Potential buyers, investors, and developers are very interested in the current and proposed developments in Greater Noida West.

Greater Noida West was one of the places that saw the most new construction debuts in Q1 2023, according to an industry report. With the residential units currently in place, the area is home to thousands of people. As a result of the developed office and retail spaces, Greater Noida West's commercial sector is also expanding steadily. With great possibilities for the commercial real estate sector, the region continues to be a popular market for investors.

Greater Noida West is now a thriving commercial district thanks to the increasing presence of IT/ITeS/, research and consulting/manufacturing organizations. Greater Noida West's office real estate market is experiencing a noticeable uptick in demand, supported by strong demand from emerging businesses and industries, which is accelerating the area's economic trajectory to new heights.

Greater Noida West has strong access to various areas of Noida and Greater Noida, as well as to Delhi, some areas of Haryana, and UP via the Delhi Meerut Expressway. For commuters traveling to Noida, Greater Noida, and Ghaziabad, the recently opened Parthala flyover is a major convenience. The bridge also connects Noida and Greater Noida West, and it will speed up travel by reducing it to 30 to 45 minutes. For the thousands of commuters living in the area, the Aqua line's passage through Greater Noida (West) and connection to Knowledge Park will be a comfort. One of the most important projects in Greater Noida is the Delhi-Mumbai Freight Corridor, which gives freight businesses a one-stop shop and increases the area's potential as a sought-after place for investments.

The region is experiencing a retail revolution, driven by millennials and the neo-rich segment of the population, a massive job market, and an enhanced livability index, in addition to attracting interest from numerous MNCs and startups. In the next three to four years, the area is anticipated to contain roughly 5 lakh units, housing 15 lakh people. Greater Noida is home to India's second and North India's first hyper-scale data center, which allows for analysis of the potential of the area.

Modern data centers in Noida, with a staggering investment of more than Rs 22,000 crore, are signaling a potential rise in demand for commercial spaces in the city due to its exceptional connectivity to significant landmarks, including the foundation laid for Jewar International Airport with an estimated investment of Rs. 30,000 crore. A multiplier effect on the economy is also anticipated from the forthcoming 400 crore Toy Park in Jewar, a Medical Device Park, Leather Park, 10,000 crore Film City across the Yamuna Expressway, Textile Business Park, Handicraft Park, and Electronic Park.

Greater Noida West is a desirable location for those looking for residential, commercial, and retail spaces due to a combination of favorable government regulations, more housing options, and employment prospects. Retail space developers are positioning their buildings close to this expanding center because this gleaming micro-market is a good location for commercial investment prospects. In addition to extending their showroom footprint in Greater Noida West, prestigious global retail companies spanning the fashion, lifestyle, footwear, and personal care industries are preparing to establish their presence in the area. Modern homebuyers are drawn to the area by the abundance of high-end recreationally-focused shopping malls and retail complexes that are currently being built.

The region's exceptional economic trajectory is the result of a number of interrelated factors, many of which were government-led initiatives. The potential of the area has also been greatly enhanced by investors and developers. Greater Noida West's real estate market is positioned for a stratospheric rise in the next years, exceeding other successful real estate centers in NCR if all players cooperate.

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