One of the most popular investment markets in India will continue to be Noida, which is close to Delhi and covers 1400 sq km. This is true not only for large investors and corporations but also for retail investors, HNIs, and smaller business owners.
Noida, its neighboring extension, and the Greater Noida area, which were once thought to be an industrial suburb of New Delhi, have steadily expanded to become the highest rated investment hub. A total of INR 64,000 crore was invested in Noida between 2016 and 2021, resulting in the creation of about 4,50,000 jobs. With an average household income of INR 6,71,000, it is among the richest in Uttar Pradesh. The city has a little less than a million residents overall. Let’s talk in detail about the new upcoming and already existing developments in Noida.
- A Positive Workplace Market
Noida’s robust job market is the city’s core strength. The job market in Noida is not only active but also not at all uniform. There is a good balance between established IT industries like (TCS, Google, MS, Sapient, Accenture, etc.) and up-and-coming companies (Paytm, Redhat, etc.). Many firms provide research, consulting, and analytics.
To transform the Noida area into a thriving manufacturing group, the state government of Uttar Pradesh has made generous investments and employed clever marketing strategies. One of India’s major centers for contract manufacturing of smartphones has already emerged in Noida.
To increase manufacturing capacity, improve the ecosystem, and promote the development of ancillary industries, the state government is also investing in the development of other specialized business sectors such as an Electronic Park, a park for the manufacture of Medical Devices, production of textiles park, handicrafts park, and many more.
Another growing data center hub in India is Noida. The Adani Group has previously invested INR 4600 crore. The SLG group, based in Singapore, recently pledged more than INR 7000 crore to build data centers in the city.
- A Retail Paradise
Noida and the areas around it are developing into retail hotspots thanks to a young population, a sizable job market, and an overall rise in the liveability index. As many well-known malls, high streets, shopping centers, multiplexes, restaurants, pubs, and nightclubs can be found in the area. Over seven years, Ikea will invest close to INR 5500 crores in Noida, which will go toward service centers, warehouses, and retail malls.
The retail presence of major international retail brands, lifestyle fashion companies, footwear brands, and personal care brands is growing in Noida. Additionally, Noida is also easily connected to Agra, Meerut, and other western UP cities. As a result, Noida is a preferred shopping destination for residents of these towns.
- Jewar Airport: A Prospective Game-Changer
For the Greater Noida and Yamuna Expressway region, this will be a game-changer. Once finished, the project will cost close to INR 34,000 crore overall, making it India’s largest airport. 12 million passengers will be handled annually once the airport’s first phase is finished in 2024.
YEIDA or the Yamuna Expressway is an Industrial Development Agency, that has been selected to develop the region’s manufacturing, tourism, and real estate sectors methodically. To increase the production of electronic appliances and OEMs, a 700-acre electronic park will be built close to the airport site.
Similar to this, a 350-acre Medical Device manufacturing park has been proposed, and discussions with numerous MNCs and OEMs for this project are already far along. A slew of brand-new malls, 5-star hotels, High-Street stores, Multiplexes, and Office projects will also begin in the area very soon as the airport project gets underway, giving the Yamuna Expressway a much-needed facelift. The government agencies have also agreed to the plan to expand the Yamuna Expressway by two lanes, which will increase its economic importance.
- A Greener Investors’ Haven
Investors have favored Noida ever since it rose to prominence in the 1990s. Investor interest is sparked by the Noida market’s robust demand and alluring appreciation potential. The real estate market in Noida has drawn a lot of interest from NRIs as well as investors from other parts of North India, including Lucknow, Kanpur, Agra, Patna, etc.
After 30 years, Noida is still a market that welcomes investors and has great potential for residential, commercial, and retail real estate. The markets have now recovered from the pandemic, and real estate prices are rising. As the markets are recovering, Noida is ‘leading the way’ thanks! to a balanced supply and demand, fresh product pipelines, soaring end-user confidence, and a rise in investor interest.