Released on: January 28, 2008, 1:57 am

Press Release Author: George Gonigal

Industry: Real Estate

Press Release Summary: NOIDA, which is among the few planned industrial townships in
Asia, is known for its commercial buoyancy.

Press Release Body: NOIDA, which is among the few planned industrial townships in
Asia, is known for its commercial buoyancy. Besides the industrial use as much as 20
per cent of the total space is earmarked as the commercial space in NOIDA (New Okhla
Industrial Development Authority), and the development is staggering.

Commercial real estate in NOIDA is basically spread across various sectors and not
clustered in one particular area. Sector 1 to 6, 10, 16, 16A (Film City) 18, 51, 52
and 57 to 62 have some commercial zones while a lot of commercial avenues have also
come up in sector 21, 28, 29, and 37.

According to MagicBricks.com report, the resale rate of commercial property in NOIDA
(both offices and retail outlets) in NOIDA ranges from Rs 2,500 to 18,000 Sq. Ft and
the rental values range from Rs 75 to Rest 300 per Sq. Ft.

Gauging the demand of the market several Grade A buildings are being developed such
as the Express Tower (Sector-16A), Express Tower (in pipeline), and Logix Park which
is under construction at Sector 16.

High-quality retail space in NOIDA basically concentrates around Centerstage
(Sector-18), Shopprex mall (Sector-61), Centerstage (Sector-18) and Spice in
Sector-24. A huge project is coming up as Corundum Building in Sector 62, which can
accommodate as many as 300-400 shops.

Prime commercial complexes in NOIDA such as Ocean Complex, Ocean Plaza, Ocean
Heights, Vishal Chamber, JOP Plaza, Ansal Fortune, Krishna Apra Plaza etc. are all
located in Sector.18. The first and second floors are usually occupied by banks,
insurance companies, real estate builders and agents and offices of professionals
such as lawyers and chartered accountants. However, price being location-sensitive,
varies considerably.

The MagicBicks.com research points out that the capital rates for Grade A building
or premium commercial property in NOIDA varies from Rs. 8,000 to 17,000 per sq ft.
and rental value varies from Rs. 80 to 150 per sq ft. Property values for Grade B
buildings, like JOP place (Sec-18), Ansal Fortune Arcade, commercial plazas and all
local offices, etc vary from Rest 8,000 to Rest 15,000 per sq ft for purchase and
Rest. 80 to 120 per sq ft for rent.

However, there is considerable variation in prices depending upon the floor,
location profile and availability.

To know more about Noida Properties visit-
http://property.magicbricks.com/newproperty/locality/propertyrates-NCR-Noida.html

Web Site:
http://property.magicbricks.com/newproperty/locality/propertyrates-NCR-Noida.html

Contact Details: george.gonigal@gmail.com