By Manpreet Singh Wason, Director, Maasters Infra
Investors, corporates, and homebuyers have shown interest in Noida Sector 62 over the years. The neighbourhood is one of the most promising and fast-moving areas in the NCR. It is appealing because it is well-connected to Delhi and Greater Noida. The sector is well connected to other important places in Noida and Delhi. In 2012, the Delhi Transport Corporation bus service was extended to this region, which was welcome news for individuals who work here and stay in Delhi. The Blue Line of the Delhi Metro was later extended to include Sector 62 Noida.
Well-known for its multi-dimensional business, office, and residential spaces, Sector 62 is located in the centre of Noida. A number of businesses have established themselves in Noida Sector 62. Bank branches, IT enterprises, and educational institutions such as Jaipuria Institute of Management’s IIM campus are also close by. It has emerged as the most favourable site for MNCs, corporates, banks, hospitals, and other commercial institutions due to improved connectivity throughout the years. Property prices in this neighbourhood reached new heights and, at one point, reached saturation. On the other hand, the Noida Authority amended its Master plan and built potential infrastructure to attract investors and buyers to the region, resulting in a surge in demand for residential and commercial properties.
The link road connecting the Expressway to Sector 62 helps decongesting crucial connectivity nodes like Sector 52, Sector 71, and Mamura Chowk up to NH 24. In addition, once the Delhi-Meerut Expressway is completely operational, an underpass for light vehicles between Noida and Indirapuram along CISF road would be an important piece of the new traffic plan for the area. The region is in great demand for commercial spaces due to the development of the Metro route and the connection road, which will drive up property prices in the neighbourhood.
The Noida authority is developing a mixed land use policy that will allow commercial and institutional activity on land located on more than 24 m wide roads as part of the Master Plan 2025. Although the landowner will have to pay a significant fee to change the land from residential to mixed-use, this will allow the landowner or developer to operate retail, office, banks, restaurants, and hotels in the same location. The locality’s liveability quotient will increase even more as a result of this. Due to the altered FAR, the area will see an increase in the number of high rises in the following years.
Despite its popularity as a real estate hotspot, Sector 62’s land bank is restricted, as developers continue to build high-end commercial, office, retail, entertainment zones, restaurants, and studio apartments in the neighbourhood. Developers are also developing commercial areas for retail buyers. To meet the needs of the people, a number of modest office spaces and shops have opened in this region. The need to get good returns in the short and long-term the investors with real estate know-how diverted their attention towards commercial real estate, which is more attractive. If the location is good, the commercial property attracts good corporate tenants, which means good rental returns. In the current scenario, we can foresee a demand for good quality commercial spaces.
In conclusion, Noida Sector 62 is the best proposition for commercial real estate investment opportunities in Delhi-NCR. The quality of both physical and social infrastructure in this zone is better than in other areas. It is connected to Delhi, Gurgaon, Faridabad and Ghaziabad through roads and the metro rail. The upcoming Noida International Airport will also make more MNCs move to this place.