There’s no denying the fact that past couple of years has been difficult for the whole economy and while everyone struggled to come to the terms with demonetisation, tax rates fluctuation, inflation and lately COVID 19, real estate sector too faced the wrath of times.
The number of new real estate projects dwindled and everyone witnessed how some realtors struggled to deliver even the ongoing projects. Real estate pundits even predicted a steep downfall of the current real estate sector in India and it would have come true, if not for the relentless efforts of some developers and visionaries who did not let the tables turn upside down even in these unfavourable times.
Several exceptional projects and offers were introduced in the market boosting the confidence of investors in the commercial real estate market in India, especially the commercial properties of Greater Noida West.
Apart from the natural causes and government policies, delay in delivery and stalled projects in the residential segment led to the negative buyer sentiment in the real estate market.
To tackle this, many realtors have introduced Assured Rentals with Lease Guarantee along with bank assurance to build buyer confidence and this has resulted in increased demand in the market especially for the shops in Greater Noida West.
Pre-Commitments on Contractual Leases is another great offer that builds the buyer’s confidence in buying commercial property for investment. Many top businesses opt for pre-commitment leasing options to avoid rent hikes and ensure presence in commercial spaces across the city.
Flexible commercial space options attract investors from a wider spectrum ultimately giving a boost to the property rates in the Greater Noida (West). First-time investors and startups looking for office spaces can also benefit from these offers.
High Street shops and SCOs are innovative commercial property options which reduce the cost of maintenance and give relative independence to the business in comparison to the commercial spaces in the malls. Apart from that, they offer higher visibility which is a major factor to attract customers.
Mere concrete structures with basic amenities cannot attract visionary investors who are looking for projects which accommodate the futuristic trends in their designs such as access to the high-speed data, charging spots for electric vehicles, water harvesting and treatment facilities and so on. Realtors who have understood the market sentiments have Implemented the futuristic technology as part of their project and are driving the dynamic revival of commercial real estate.
Implementation of eco-friendly design which reduces the carbon footprint as well as the cost of operation in terms of electricity consumption are preferred by the businesses committed to environmental causes as part of their CSR initiatives. It is becoming a major factor for organizations choosing the working space for their business.
Business cannot operate in silos, they need infrastructure and access to resources, so connectivity is the major selling point of any commercial property in the Greater Noida West. Most commercial properties in the Greater Noida West are located on major or minor roads, but some properties such as Golden I which is located at the crossroads of major expressway gives unprecedented connectivity.
The pandemic has rocked the stock market and given the current status of the job market, people are more than eager to invest in stable and reliable sources of income which will further boost commercial real estate market in Greater Noida West.