Over the years, Noida has emerged as an industrial and commercial hub in Delhi NCR. As a result, there has been a significant rise in the number of commercial properties in Noida to cater to the expansive workforce. Noida also has Special Economic Zones (SEZs) that have contributed to the growth of the area’s business potential as well as the creation of more commercial properties. SEZs are designated areas within a country where businesses enjoy certain tax benefits, streamlined regulations, and infrastructure support to promote exports and economic growth.
The best real estate companies in India know that any region that sees such exponential growth is a hotspot for commercial property development. That is why real estate companies in Delhi NCR see Noida’s SEZs as a hub for commercial properties. These zones provide a conducive environment for both domestic and international businesses to set up their operations. To understand the ways SEZs contribute to the development of commercial properties in Noida, we will be taking a look at SEZs and their importance.
Infrastructure and Connectivity
For any business to flourish, it is imperative that the infrastructure in and around its operating area is well-developed. Noida in itself is well-planned, with great connectivity within the city as well as the surrounding places like Delhi and Faridabad. Along with these benefits, the SEZs are known for the availability of state-of-the-art facilities, such as high-speed Internet, well-maintained roads, and an uninterrupted power supply. These things make these zones attractive to businesses.
These businesses also favour such zones for their global connectivity. In the case of Noida’s SEZs, the proximity to Indira Gandhi International Airport in Delhi and efficient transportation systems allow companies to do both local and foreign trade. This is why some of the best real estate companies in India operate in and around Delhi NCR and develop a lot of commercial properties in Noida.
Advantageous to Businesses
Many companies in Noida’s SEZs are export-oriented, engaging in IT and IT-enabled services, manufacturing, electronics, and other sectors. These zones have streamlined processes and reduced regulatory hurdles that make it easier for companies to focus on global exports. Businesses operating in SEZs also get tax exemptions and incentives from the government. These include income tax, customs duties, and service tax exemptions, which help significantly reduce operating costs. These benefits make SEZs a hub for companies and their offices and have contributed to the development of commercial properties in Noida.
Growth and Development
One of the biggest advantages of Noida’s SEZs has been the overall economic growth due to these zones. They have attracted a lot of foreign investment that has, in turn, contributed to the city’s growth and development. This development has resulted in constant evolution in business operations and created employment opportunities for a significant portion of the population in the region. With such a large workforce employed in Noida’s SEZs, the best real estate companies in India based in Delhi NCR have been developing various types of commercial properties in Noida. These properties include office spaces, coworking facilities, and business centres.
In summary, Noida’s SEZs have contributed greatly to the city’s growth in terms of economy, opportunities, and infrastructure. This has also created an avenue for the best real estate companies in India to invest more in commercial properties in Noida. These reasons have made Noida a hub for commercial real estate, and it seems evident that the scope will only continue to rise.
