When we think of setting up a retail space in the National Capital Region, Greater Noida is the first city that usually comes to mind. But there was a time when it was not considered a worthy destination for investment for commercial establishments. It was more of a quiet suburban town in the vicinity of Delhi. However, in recent years, Greater Noida has seen significant urban development. Today, the city comprises state-of-the-art roads and expressways, an ever-expanding metro network, IT parks and industrial centres, and an expansion of airport infrastructure. Besides providing good connectivity, the first-class infrastructure has boosted new avenues and employment opportunities. Greater Noida has emerged as the first choice for businesses, malls, and retail spaces, leading to a boom in property rates and future appreciation. In this article, we will talk about the impact urban development has had on retail spaces in Greater Noida.
Seamless Connectivity
For businesses to thrive, it is essential that a city possesses seamless road, rail, and air connectivity. It provides market access, facilitates the movement of goods, and significantly reduces the cost of transportation. In terms of connectivity, Greater Noida is far better than many other cities.
The Noida-Greater Noida Expressway has given a facelift to connectivity in the region. It is a 6-lane, 24-km-long stretch which connects Sector 16 A in Noida and Pari Chowk in Greater Noida. The strategic location and superior connectivity to Noida have led to the emergence of many retail and commercial establishments in the close vicinity of the expressway.
The Yamuna Expressway is a 165-km-long corridor that connects Greater Noida with Agra. Its good connectivity to the Taj Economic Corridor has led to the establishment of many commercial establishments along its route. We, at Migsun Group, recognise the benefits that the Yamuna Expressway offers. We have introduced the Migsun Alpha Central in Greater Noida – a premium commercial establishment that offers retail, dining and business suites. The project is strategically located and is within walking distance of key hubs like Alpha I and Delta I Metro Stations and the upcoming Noida International Airport.
The International Film City, which is coming up in Sector 21 near the Yamuna Expressway, is currently being developed. The impressive project will be spread across around 1000 acres of land. In addition, a Fintech park has also been proposed in Greater Noida. These infrastructural developments will impact the retail industry in a positive way and provide more employment opportunities and the establishment of shops in Greater Noida.
The Jewar International Airport, which is in the final stages of completion, is expected to become a turning point for the retail industry. Once the airport becomes fully operational, it is expected to handle around 12 million passengers annually. The airport will see significant development in the regions within its vicinity, especially Greater Noida. With superior air connectivity, it will see further expansion of retail spaces and commercial establishments and lead to a business ecosystem which will comprise retail establishments, hotels, cafes and manufacturing spaces.
Rise of Mixed-Use Developments
We are witnessing a steady increase in mixed-use developments in Greater Noida. This is closely tied to the phenomenal pace of urban development that the city is witnessing. Mixed-use development is fast gaining popularity among buyers of residential and commercial properties because it integrates residential, commercial, and retail spaces within one cluster.
Commuting in traffic-congested cities in the NCR region is very draining for most commuters. However, with mixed-use development, business, living and working spaces can be integrated within a particular area. With no need to commute long distances, commuters can save time and money. This has encouraged many leading developers like Migsun and others to construct premium mixed-use projects in the city. With urban and infrastructure development on the rise, the future will see the construction of further such projects and shops in Greater Noida, improving employment opportunities and providing people with better standards of living.
Also Read : Investment Benefits of Business Suites in Greater Noida
Industrial and IT parks
In recent years, urban development has led to the emergence of numerous industrial and IT parks in Greater Noida. This has encouraged many companies and startups to set up their base in the city. These industrial parks have had a positive impact on the retail sector. It has led to a large working population shifting to the city in search of employment. This has increased demand for malls, grocery stores, pharmacies, shop-cum-business suites, lifestyle centres, and other retail spaces. Some IT parks like Tech Zone and Knowledge Park have significantly boosted retail space in Greater Noida.
Urban development has played a key role in the overall growth of retail spaces in Greater Noida. From regular stores to malls and land-use development projects, urban development has helped the city become one of the most sought-after destinations for commercial establishments and owners of retail spaces. With the city witnessing further expansion, the future seems bright, as it will lead to more sustainability and profitability for retail spaces.
If you are planning to invest in a retail shop in Greater Noida, now is the right time to take the next step. Connect with our team to explore commercial projects designed for strong growth potential and long-term returns!
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