The Noida Aqua Line is touted to be a much awaited addition to Noida-Greater Noida Expressway belt – a huge advantage for the commercial real estate property in Noida.
The metro rail service is planned to deliver on the demands of daily commuters facing budgetary challenges while commuting to the different sectors covered by said metro line. But, although the metro railway line aims to cover Noida and Greater Noida and a few potentially affordable sectors along the way, it is slated to expand deeper into Greater Noida and the undergoing Airport route.
Ones the line is open :
The metro railway line inaugurated services for the residents from the 26th of January 2019. However, there remain gaps in what should have been the end all, be all of Noida’ residents commuting woes. Residents who live along this metro railway corridor are to enjoy an affordable means of commuting to the aforementioned locations.
Thus, one can even go far as to say that Noida still remains an island in its own right owing to the ever-present budget commuting options; because, a closer look reveals that Noida does not have any direct commuting facility to the Delhi Metro Blue Line or even the Magenta Line which stretches all the way to the airport.
The silver lining beyond the metro line :
Even though the nascent metro rail corridor improves the connectivity by much, it certainly has accomplished enough by lending a hand in the hiking of commercial real estate prices in India. Records depict a lucrative boost to commercial space occupation, bringing the tally to a whopping 3.5 million sq. feet by the end of 2018.
Understandably, business enterprises are trying to make the most of the lucrative asking rates for commercial real estate in Gurugram, along the metro line corridor. Commercial real estate in Noida here goes for as cheap as Rs. 50-70 per sq. feet; adjacent commercial spaces that still enjoy proximity to the metro line are going for as low as Rs.40 per sq. feet. So, it is only evident that consumers absorb commercial assets in the region like hot cakes.
Ques. How the metro line benefits commercial real estate property in Noida…??
The fabric of commercial real estate property in India owes its marketability to the long term occupants who have bought assets here. What with companies like HCL, Infosys and Samsung setting up large campuses in Noida, more and more business ventures are keen to test the waters.
While there is a short term lack in supply of A grade, ready-made commercial infrastructure to house newcomers, that should not be a long term problem as there is sufficient land to be utilised in Noida. This may also contribute to commercial estate prices remaining at a sub-dollar value for most of the foreseeable future.
Those keeping an eye out for quality commercial office space in the region must take note of the fact that Noida offers quality office space for rental or purchase along the metro corridor. Compared to Noida, the KPOs, BPOs, IT/ITES business in search of affordable, value for money space in Gurugram have to move further away from the railway adjacent plots. Moreover, there has been a slew of prominent businesses filling up Noida’s tech-parks.
Now the only thing left to ponder is how much more potential this region would wield if there was a connectivity between the Aqua and the Blue and Magenta lines.
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