Microsoft, Adani buying Lands in Noida
Noida has transformed and is now competing with the neighbouring NCR towns. Following the announcements of Jewar Airport and Film City, the city is now prepared to welcome companies such as Adani Enterprises and Microsoft. To encourage private investment, the Greater Noida, Yamuna, and Noida Authority has been coming up with schemes to allot industrial and institutional plots to companies.
Recently, the Noida Authority allocated industrial land to 13 firms, including Adani Enterprises; these companies have been given land plots in Sectors 80, 145, 140A, and 151. Adani Enterprises has been given 39,146 square meters of land in Sector 80 for a planned data center. The Noida authority has also given a 60,000 square meter institutional plot to Microsoft India (R&D) pvt ltd.
“Investment by these giants in Noida would aid the development of the NCR as a tech center. It will also generate employment and attract other businesses to invest in the region. The market earns some brownie points due to the excitement that surrounds a major corporate announcement,” says Harvinder Singh Sikka, MD, Sikka Group.
Realtors say that the positive impact will not be limited to the Noida real estate market. “If a large corporation purchases a property, a commercial establishment may emerge, resulting in the creation of jobs and other benefits. Such developments also lead to more real estate projects in the surrounding areas,” says Dhiraj Jain, Director, Mahagun Group.
“Historically speaking, infrastructural developments in Noida have been having a positive impact on Ghaziabad too. For example, dividends from NH 24 are being enjoyed by both cities, Noida’s commercial sectors lead to people buying properties across the road in Ghaziabad, etc. The movement of Big corporate bring along many benefits, and one such is the capital appreciation in the properties that fall within few kilometres of it,” says Ashok Gupta, CMD, Ajnara India Ltd.
Nearby residential sectors will also witness a huge appreciation in the short term; the demand for quality residences around Sectors 80, 145, 140A, and 151 will go up manifold. “The new developments would have a direct impact on the surrounding areas. Investors in the residential and industrial sectors would be pleased. In reality, in the not-too-distant future, the area will see the growth of the hospitality segment to meet the needs of visitors,” says Vijay Verma, CEO, Sunworld Group.
Investors who profit from property appreciation over time are more likely to dominate the market around these sectors. “People who have a preference for second/third homes would invest in residential. With the completion of infrastructure and the movement of employment-generating vehicles, the residential sector will soon hit its apex. Many businesses could relocate to Noida to take advantage of lower-cost space and improved connectivity. The Yamuna Expressway is developing, and it will eventually become a sub-city with townships and corporate hubs,” adds Dhiraj Bora, Head Marketing & Communication, Paramount Group.