The absolute first step when you plan to lease a new place for business is to zero down on possible locations. And to achieve that, you will need to connect with all the stakeholders and understand their requirements, compile the same and then proceed.
When looking for a retail space, proximity to areas with good concentration of target customers could be a good marker. Sometimes, it could be a very simple decision to look around and rent out a place in a shopping mall where other brands appealing to your target consumers are located. However, the availability of right spaces and budgetary constraints could complicate the decision.
Similarly, when searching for an office space, convenience of employees and their commute could be the most important considerations. It will be prudent to understand the profile of people you employ or plan to employ and look for a location accordingly. At times, the choice of location will have to conform to the brand perception. For example, it could be just fine for a start up to be located anywhere, but a top-notch consulting firm has to set up an office in a corporate building in the business district only.
Whatever be your preference, it is always recommended to ensure that the place is a safe and welcoming environment. This is important for the security and wellbeing of employees and customers, and warms them up even before they interact with the brand directly.
Check out our list of 7 important parameters one must consider before leasing a commercial space.
- Appropriate Location
- Buy or Lease Decision
- Size and Space Layout
- Amenities Required
- Expansion opportunities
- Start-up expenses
- Diligent Handling of the Paperwork
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According to the half-yearly report published by Knight Frank India titled – Indian Real Estate: H2 2020, National Capital Region (NCR) has set new benchmarks in the commercial realty sector with gross office leasing of 2.6 mnsqft in H2 2020; a whopping 24% higher than the level recorded in H1 2020.
258 Crore by Gulshan Group has also provided further impetus to Noida’s emerging commercial real estate segment.
The project will be offering numerous options of the office space in Noida expressway on lease.
Yukti Nagpal, Director of Gulshan Group vocalized, “We aim to deliver five million sqft of luxury housing and 4.75 lakh sqft of commercial space” and the project is presumed to complete by July 2021.Key hotspots in Noida include Noida expressway, Sector 62, Sector 16 where prime developers including Gulshan Group have taken the front seat in accelerating this city’s commercial sector, providing the best commercial property in Noida, while beating its counterpart, Gurugram for the first time.
The report also stated that even though the real estate segment in the commercial market came to a standstill due to the Coronavirus outbreak, Noida’s sales and demand was at a stellar 1.08 million sqft in H1 2020.Noida’s commercial market looks extremely promising as it offers ample opportunities for potential investors to enhance their real estate portfolio.
The soar in the city’s millennial population, fast-paced advancements in infrastructure and favourable FDI policies positionsit the brightest spot in NCR’s office space segment.Various ambitious projects like the forthcoming Jewar airport, opening of Yamuna expressway, better metro connectivity in Noida-Greater Noida Aqua metro line and Delhi-Mumbai based industrial corridor (DMIC) coupled with reasonable rental prices in this strategic zone makes this city as a desirable proposition for corporates and industries.
