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The commercial real estate market in Noida has witnessed a surge in demand for leasable property over the past few years. The demand for such property has been on the rise due to various factors such as the increasing number of start-ups and small businesses, the expansion of established companies, and the need for flexible working spaces.
Noida, which stands for New Okhla Industrial Development Authority, is a city located in the Gautam Buddh Nagar district of Uttar Pradesh. It is a well-planned city that is developed to promote industrial growth in the region. Over the years, the city has grown to become a hub for IT, BPO, and other service- based industries. This has led to an increase in the demand for commercial real estate in the city.
What is a leasable property?
Leasable property refers to a type of commercial property that is available for lease or rent or already leased out by the builder to businesses or individuals for a specified period of time. It includes various types of commercial real estate such as office spaces, retail spaces, industrial spaces, and warehouses that are owned by builders or property owners and made available for lease to tenants.
Leasable property provides businesses with the flexibility to operate without the financial burden of owning property. Tenants can use the space for a specified period of time, usually for a few months or years, and then either renew the lease or vacate the property. This allows businesses to adjust to changing needs, such as expanding or downsizing operations, without the commitment and financial burden of owning the property.
Leasable property is typically owned and managed by a property management company or a landlord who is responsible for maintaining the property, collecting rent, and ensuring that the property is in compliance with local laws and regulations. The lease agreement usually includes terms and conditions related to rent, lease term, security deposit, maintenance responsibilities, and other factors that govern the use of the property.
Why leasable property in Noida is in talk these days?
The growing popularity of leasable property in Noida can be attributed to various factors.
The leasable property market in Noida offers a wide range of options to businesses looking for commercial space. From small office spaces to large commercial complexes, there is something for every business. The flexibility offered by leasable property allows businesses to choose the space that best suits their needs.
Prime location attracting prospect investors:
Leasable property in Noida is also available in prime locations, which makes it an attractive option for businesses looking to establish their presence in the city. Prime locations offer businesses access to a larger customer base, which can help them grow and expand their operations.
Government’s initiatives for the growth of the city:
The leasable property market in Noida is also supported by the government's efforts to promote the growth of the city. The government has undertaken various initiatives to promote industrial growth in the city, which has led to an increase in the demand for commercial real estate. The government has also taken steps to improve the infrastructure in the city, which has made it an attractive destination for businesses looking to set up operations.
Noida is known for its commercial hubs of IT sectors and reasonable office spaces with its great connectivity to neighboring cities making it the most preferable location for prospect investors. Noida has flourished itself as a great space as it has commercial property in Noida. The upcoming project Jewar Airport has created hype amongst the investors and has increased the demand for commercial property in Noida.
Future Aspect of leasable property:
The future of the leasable property market in Noida looks bright. The demand for commercial space is expected to continue to grow in the coming years, driven by the increasing number of start-ups and small businesses in the city. The pandemic has also accelerated the trend of remote working, which is expected to drive the demand for flexible working spaces.
Which is better lease or sale of a commercial property?
The decision to sell or lease a commercial space ultimately depends on a variety of factors, including the financial objectives of the property owner, market conditions, and the location and condition of the property itself.
Selling a commercial space can provide a one-time infusion of cash, and may be more advantageous for property owners who are looking to cash out on their investment or exit the real estate market altogether. However, selling a commercial space also means giving up ownership and control over the property.
Leasing a commercial space, on the other hand, can provide a steady stream of income over time, and may be more advantageous for property owners who are looking to maintain ownership and control over their property while still earning rental income. Additionally, leasing can be more flexible, allowing property owners to adjust rental rates and lease terms as market conditions change.
Ultimately, whether to sell or lease a commercial space depends on the individual circumstances of the property owner and the property itself. It may be helpful to consult with a real estate professional or financial advisor to determine the best course of action.
In conclusion, the growing popularity of leasable property in Noida is driven by various factors such as the high cost of owning commercial property, the trend of co-working spaces, the need for flexible working spaces, and the availability of modern amenities.