Following the announcements of Jewar Airport and Film City, Noida city is now prepared to welcome companies such as Adani Enterprises and Microsoft. To encourage private investment in Noida real estate, 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 company is expected to invest Rs 2,500 crore in Noida, the authority said in a statement. Noida authority has also allotted a 60,000 square meter institutional plot to Microsoft India (R&D) Pvt Ltd at the premium of Rs 103.66 crore, as reported by Construction Week Online.
“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.
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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.
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.
