Noida and Greater Noida are constantly witnessing an increase in office spaces even with severe issues of power supply and connectivity.
Twin cities – Noida and Greater Noida, seem to be becoming the preferred NCR amongst IT companies for their back-end operations as the Noida, Greater Noida office space rentals are much less than Gurugram (earlier Gurgaon).
According to the sources, there has been an increase in the Noida, Greater Noida office space rentals in the past two years with the rates being between Rs.50 and Rs.55 per square feet. This rate is around Rs.20 per square feet less than the office spaces in Gurgaon.
USA based IT company, 3 Pillar Global has its offices in Noida which are likely to be expanded from 300 to 450 seats. This is because office spaces in Noida are convenient for them due to the low costs involved. They find talent along with sufficient offices spaces in Noida.
Another customer-relation company, SaleszShark, had recently shifted their office to Noida from Gurugram because of the cheaper rentals in Noida in comparison to Gurugram. They have shifted corporate office to sector 132 in Noida and have overcome the connectivity issue by providing facilities of pick-up and drop from the metro station to the employees. They are experiencing a better experience in the Noida office space in comparison to Gurgaon.
One more important reason for the shifting of offices in Noida and Greater Noida is the ample amount of supply of spaces which gives a tremendous scope to the companies to expand.
During 2016, from October to December, the total absorption of office spaces in Noida was 4,50,000 square feet. In 2017, January-February alone, Noida office spaces have occupied 3,50,000 square feet of area.
Even if the companies continue with their corporate offices in Gurgaon, they will expand to Noida, Greater Noida offices for the research and development sections.
Employers find this the best alternative as the living cost along with talent cost is cheaper in Noida.
