Noida- Greater Noida to be the next Corporate Hub, Making The Hemisphere even more Alluring!
Added: (Sat Jul 15 2017)
Pressbox (Press Release) -
Bangalore is considered to be the Silicon Valley of India. But of late, Bangalore has been facing a lot of competition from Gurugram, and surprisingly, from Noida and Greater Noida. There are today, several IT companies in Noida and the city is fast emerging as an IT hub in its own right. The IT companies in Noida and Greater Noida include some of the biggest names in India. Every year, tens of thousands of new jobs are being created in Noida’s IT, ITes, KPO and BPO industries. This comes at a time when the IT industry in Bangalore faces a slowdown.
Many IT companies in Bangalore are looking to move elsewhere, to Hyderabad, Gurugram and now to Noida and Greater Noida, because of the inefficiency of the state government. Not much has been done to provide a solution for the insane traffic on Bangalore’s roads. The water supply problem seems to be getting worse by the day and sanitation and garbage disposal are other critical issues in Bangalore.
In a survey by Assocham in 2016, 15 percent of the respondents wanted to shift to Pune and 10 percent wanted to Mumbai or Hyderabad. But clearly, Noida and Greater Noida were the most preferred alternatives to Bangalore. Many companies also insisted that they were not going anywhere out of Bangalore, so it cuts both ways. Noida and Greater Noida are very popular with many multinational IT firms looking to set up a base in India. The Assocham study was based on a survey of over 800 CEOs, CFOs, and directors of many Indian and multinational IT companies. 30 percent of the respondents in the survey said that they were willing to move to Gurugram, while 25 percent said that Noida and Greater Noida offered a compelling alternative.
While Gurugram still tops as a premium alternative, cracks have started showing. Gurugram’s attraction was based on cosmopolitan culture, modern infrastructure, availability of skilled workforce, closeness to Delhi along with industry-friendly government policies. These are rapidly being challenged. Gurugram faces problems of unplanned development, responsible for the flooding of several areas in the city during the rains of 2016. On the other hand, Noida and Greater Noida boasts of utmost planning in city development, and the Noida-Greater Noida corridor, where most of the companies in Noida are located, is one of the best planned IT Parks in India.
A surge in IT jobs in Noida and Greater Noida is placing the cities on the verge of becoming the next big IT hub. Officials recognize that with other cities such as Noida developing their infrastructure at a rapid clip, Bangalore faces competition for the every first time. They have accepted the necessity to improve the infrastructure and public transport. Noida-Greater Noida would soon have a city wide metro network, becoming only the second city to have this facility in India after New Delhi. Sustainable transport is a must for any city to grow as a corporate or an IT hub. Noida-Greater Noida has a unique model where the state government is taking pre-emptive action to bring in metro connectivity in these two areas. While earlier an image was created of it being a manufacturing hub, but slowly the image of an IT hub has replaced it. Many large and medium companies have grown rapidly here.
Noida-Greater Noida belt has everything an IT company would need, such as a great infrastructure, a high standard of living to attract the best talent, and a proper, well-planned city development. There are today hundreds of IT companies in Noida. The Noida – Greater Noida corridor is certainly emerging as a major threat to Bangalore and Gurugram’s dominance in the IT, ITes, BPO and KPO industries.
Hailed as the next big real estate hub by consultants and end users, Greater Noida will soon replace Gurugram as the hot-seat of real estate and attract premium IT industries in NCR. The Greater Noida Authority is revamping the civic amenities and other infrastructural facilities. Much awaited projects like the international airport at Jewar and 160-km long Noida-Agra Taj Expressway will help in the fast-track growth of the twin cities. The twin cities offer attractive habitat with 41% area earmarked for greenery, 12% for recreational facilities, 13% for residential, 2.5% commercial, 3.9% institutional and 18.9% devoted for the airport. Also, after completion, the 1483 km long Delhi-Mumbai Industrial Corridor will mark a watershed in connectivity. Apart from this, a mega rail-corridor will start from Boraki near Dadri. Foreseeing a surge in demand for office space, many real estate developers have launched various residential and commercial projects at Noida and Greater Noida.
The administration is also taking strong sustained action Special economic zones (SEZs), hotels, and commercial and residential complexes are coming up on the Noida-Greater Noida Expressway that offer great scope for strong and sustained growth for all real estate segments. There are 40 sectors along the expressway that have been divided into four zones under the 'Noida Masterplan 2021' to ensure balanced development amidst population explosion. The 321 hectares of Greater Noida land, which is within one km of the expressway, has been a major source of attraction for realtors, IT companies and educational institutions among others. The authorities have also planned development projects on each side of the expressway in phases to give a boost to IT,ITeS sectors. The impact of all these developments is clearly discernible, as there is an increasing demand for land by IT companies, triggering real estate boom in these satellite townships.