Advantage Noida, Gurgaon
MCD’s demolition drive may have made erring property owners dive for cover but it has also made businesses operating out of residential areas sit up and take notice. Over the past week, there has been a deluge of queries for office and commercial space in neighbouring Noida and Gurgaon.
Said Pradeep Mishra, a local broker: “Every day, I’ve been getting at least 10-15 enquiries about space in Gurgaon. These people are generally looking for small offices in the range of 2,000-15,000 sq ft.
Most of the queries are from businesses being run out of semi-commercial or residential areas like C R Park, Janakpuri, Vasant Vihar, Pitampura and Safdarjung Enclave.
They all want to rent offices that will accommodate at least 20-30 people or more and most are running businesses like call centres or consumer goods shops etc,” added Pankaj Jain of Realistic Realtors, a brokerage firm.
With Delhi offering few options apart from commercial hubs like CP, Nehru Place, Bhikaji Cama Place and Saket till now, businesses in residential areas seemed as the ideal solution.
Said Parmeet Agarwal, a realtor, “Office and commercial space is very expensive in Delhi. For instance, rates in CP are around Rs 90 per sq ft. After the demolitions, it’s gone up further.”