A new phase of growth and development entered in commercial real estate property in NCR . As per recent research reports, NCR accounts for more than 30 percent absorption of commercial real estate property in ncr – the highest in the country. These are astonishing numbers!
Notably the growth comes mainly from the Expressway corridors. In Noida, the Noida-Greater Noida Expressway belt enjoys the most impressive level of infrastructure development and that is why hundreds of corporate houses are moving in here at a sustained pace. The same goes with Gurugram wherein the Delhi-Gurugram Expressway and Dwarka Expressway drive growth for the commercial real estate sector as well as housing segment.
The NCR generally adds 1-2 million square feet of commercial real estate space every quarter and this is consistent for the past several years. The best part is that the absorption rates are pretty high and you would hardly find a Grade-A office vacant for a long time.
According to Bhutani Group, the Noida – Greater Expressway belt is the most potential option for corporate houses and start-ups looking to set up or expand their offices in India. “Our first commercial real estate property project in the Noida – Greater Noida Expressway belt was so well-received that we were bound to launch yet another project in a matter of a few years. The demand is pretty vibrant and we are able to sell out the space at a rapid pace,” says Ashish Bhutani, CEO – Bhutani Group.
The Bhutani Group has been at the forefront of leading the commercial real estate sector in Noida. With their latest project Cyberthum, the company is all set to build the tallest commercial real estate tower in the NCR – measuring 50 storeys of excellence.
The pace of construction for their first project Alphathum is unbelievable and the project is running well ahead of time. At a time when most real estate developers are struggling to meet their timelines and delaying their projects by several years, Bhutani Group has set new standards by beating the timelines with exceptional planning and management.
Meanwhile, the research studies state that Noida is the most favourite location for corporate houses because of its superior infrastructure and lower prices.