The Mak Group has also recently acquired a plot while Mumbai-based Oberoi Realty is also eyeing a plot in this micro market as its entry into the NCR (National Capital Region). On the Noida Expressway, developers such as Saia, Paras, Gulshan and Gaurs have recently launched projects, while Max has also acquired land in the region. Brokers in the area say developers like Prestige, County Group, DLF and M3M are also looking for land in several sectors.
“The proximity of these two micro-markets to the city’s premium markets and significant upcoming infrastructure is fueling demand for real estate,” said Vibhor Jain, managing director, north India, at real estate firm Cushman & Wakefield. In the third quarter of 2022, about 35% of all new homes in NCR and 15% of all new offices in Gurgaon opened on the Golf Course Road extension.
The market is becoming a favorite because of its proximity to the golf course street. The Noida Expressway market held a major share of 52% of the total office leases in Noida. “Sector 133 in Noida is an emerging market, primarily residential, dominated by high-rises, commercial and retail,” said Aman Nagar, MD, Joint MD, Paras Buildtech. “The Noida Expressway connects the area with Greater Noida and Delhi and improves road connectivity. The proximity benefits from excellent rail and road connectivity, which adds value to the location.”
The area around the Noida Expressway is a bustling commercial destination with a host of new IT and other businesses.
“These sectors are also witnessing a new growth path in terms of commercial retail space and Class A office space as currently there is a lack of malls and organized high streets on the Noida-Greater Noida Expressway compared to the density of people staying nearby,” said Vishal Raheja, MD, InvestoXpert.com. “So this area would be a new hub for commercial retail space along with Grade A office space.
Experts said that for homebuyers, the only feature that tips the balance in Noida’s favor is its road and metro connectivity. “Affordability and availability of social and commercial infrastructure… as well as increasing interest of renowned real estate investors in launching their upcoming projects makes this locality among the most desirable choices for home buyers,” Raheja said.