DELHI-NCR SEES 11% RISE IN OFFICE SPACE DEMAND As the IT/ITes sector continues to gain momentum, the office space absorption has witnessed a rise of 11% during the April-June quarter as compared to the previous year. With this, the demand has touched 1.38 million. The rise is primarily driven by higher demand from the IT/ITeS sector, which accounts for around 81% of the total take-up. The demand is likely to grow further as corporate are expected to increase hiring activities, given the expectation of an economic revival.
INTERNATIONAL AIRPORT AT GREATER NOIDA MAY FINALLY TAKE OFF The proposal of an International Airport had generated great enthusiasm around the area, taking the prospects of business to another level. Now, with the matter getting attention again, it could soon be a reality. Mahesh Sharma, the newly appointed junior minister in the civil aviation ministry and MP from Gautam Budh Nagar has made evident his interest in the project by stating that he will explore the possibility of setting up the project. He further said that he would discuss the issue with the UP government and expects the proposal to be finalized within a month. This is great news for the entire business community. An airport would greatly enhance the potential of the area that has recently emerged as an important business hub.
It will act as important factor for demand of Commercial Property In Noida as already there has been rush for demand of office space in noida, companies like Genpact, Oracle, Samsung, Cognizant, Infosys, Mercer, NEC are either searching or have taken commercial properties in noida. Which has lead to huge demand of property on Noida-Greater Noida Expressway? Over period of 5 years Noida & Yamuna Expressway will turn in to major hub of small & big IT/ITES companies with limited availibilty commercial building on Noida & Yamuna Expressway like WORLD TRADE CENTER NOIDA, ASSOTECH BUSINESS CRESSTERA SECTOR-135, NEHRU PLACE EXTENSION, URBTECH TRADE CENTRE, EXPRESS TRADE TOWER, ADVANT, LOGIX TECHNOVA & upcoming projects like OH MY GOD NOIDA, SIKKA DOWNTOWN, COSMIC CORPORATE PARK & Many More.
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