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Noida is strategically located at the eastern entrance to Delhi, connected to Delhi via the eight-lane DND flyover across River Yamuna, and to Faridabad, Mathura and Agra via the Old Okhla barrage. It is a city where trade and commerce is flourishing. In the well-planned Noida, commercial complexes are a convenience feature of every sector. With a rapidly increasing population seeking high-profile retail options, the Noida market is flooded with numerous shopping options ranging from hi-tech malls to street-front retail, and of course, the local shopping options. Besides, multinationals like HCL, Duet Technologies, LG, Daewoo, Honda, RM Software, Samsung, MTC, R- Systems have opted to create their headquarters in Noida.
Commercieal Sectors in Noida
Sector 18 is the biggest commercial sector in this part of the NCR. It has glitzy malls and exclusive showrooms of highend domestic and foreign brands ranging from Ebony, Van Heusen, Louis Phillipe. A host of restaurants such as Punjabi By Nature, Pizza Hut, Cafi Coffee Day, Wimpys, Barista, and Nirulas also dot this area. A Multiplex and 5 Star Hotels add to the quality of this sector. And, ever since the Metro Rail work started here, the values of commercial realestate has leapfrogged by 30%. Today, capital values range between Rs 15,000 to Rs 20,000 per sq m in the area, depending upon the location and floor. Atta Market in Noida Sector 27, is another local market in close proximity to Noida Sector 18. It is not under the Noida Authority and is controlled by the local people of the Atta Village. Hence, rental and the capital value of the shops are not defined. Shops are normally rented out on the ‘pagri’ system. Atta Market is the most sought-after shopping destination in Noida, next only to Noida Sector 18.
Tail boom and a number of highprofile shopping malls have come up here, with Noida Sector 18 currently accounting for the largest number. These include J.O.P. Plaza, Shipra Mall, Centerstage Stage Mall, Ansal Fortune Arcade, while two new malls are under construction here. Sab Mall (Noida Sector 27) is opposite Sector 18 market. Others include Shorprex mall in Noida Sec 61, Spice in Noida Sec 24, while Fashion-mart is coming up in Sec 99. City Centre is in the pipeline in Noida Sec 25 & 32.
Noida Sector 29 has two popular markets created by the Noida Authority — Brahmaputra Shopping Complex and Ganga Shopping complex. Promoted by the Noida Authority even before the development of Sector 18, they have suffered because of location and infrastructure. Today they are regarded as prime market areas and rental values in both the complexes ranges between Rs 20 to Rs 30 per sqft, per month, while the capital value ranges from Rs 12,000 to Rs 15,000 per sqm.
Noida Sector 9, though an industrial sector, accommodates the building material market in Noida. All kinds of building materials are easily available in this local market and with the rapid development in Noida, dealers here are doing a roaring business.
Noida Sector 15 has two local shopping complexes. The Nayabans Market and a highly visible Nirulas, located just across the road in Sector-2, are the shopping opportunities here. Sale and purchase is limited in the area though rental value (bare-shell) varies from Rs 15 to Rs 18 per sqft, per month.
Noida Sector 16 is popularly known as the Car Bazaar market. The place is flooded with repairing and upgradation shops for all sorts of vehicles. Though conceived as an industrial sector, today many of the shops on the main road have been converted into hotels, or even office buildings. Apart from these commercial hubs, Noida Authority has also developed small markets in residential sectors to cater to the daily needs of the residents of the respective sectors. These sector-markets mostly deal in items and services of daily consumption. Such markets exist in Noida Sectors 14, 15, 15-A, 19, 20 (G-Block Market), 21, 22, 23, 25, 26 (Jaipuria Plaza), 27 (D-Block Market), 33, 34, 37 (Godavri Complex), 39, 40 and 41.
Overall, Noida has a wellplanned mesh of local shopping facilities, upscale shopping precincts and shopping malls. With easy connectivity and a large hinterland to tap, it has become a well-established shopping destination. Even the lifestyle of the Indian middle class is changing fast. There is very little time for elaborate shopping so we have the new malls with retail, commercial entertainment and food all under one roof. “It is neither a new concept nor is this imported from Dubai or Japan. In a market place we do have all these activities spread over horizontally. It is just that due to space crunch the market is growing vertically.
With the change evident in India, gone are the days when there was very less traffic flow of Indians in a five star hotel and the hotels had to depend mostly on foreigners. Now with the spurt in buying power the target base is around 50% of domestic customers. It is very true that the Commonwealth Games has made the builders sit up and think on multiutility malls in Noida. It is positive change which is here to stay simply because of the demand of such services in Noida.
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