Mixed use projects in Noida
Noida is witnessing growth and development of projects that concentrate on providing residential as well as commercial solutions, as a single package, to investors. Developmental authorities have chartered developmental plans in such a way that the same promotes mixed land-use activities. Builders and developers are taking care to design their projects in an efficient manner, so that both commercial and residential requirements are fulfilled through it.
Features and advantages of mixed development
Mixed development occurs when structures or other developments are built with blends of residential, commercial, industrial, cultural or institutional uses. Such a development can be undertaken by a governmental agency, a private builder, or a combination of both.
With the introduction of industrialization, residential areas were zoned far away from factories and manufacturing units. However, today, mixed development has become desirable owing to a number of reasons.
- Mixed development leads to greater housing variety and density.
- Promotes efficient use of land and infrastructure
- It helps in reducing the distances between housing and workplaces.
- Residents of a particular area are provided with state-of-the-art facilities, within their hand’s reach, making life easier and comfortable.
- A more compact and efficient development occurs
- A stronger neighborhood character and a sense of community is built
- Pedestrian and eco-friendly environments are promoted, lowering the rate of accidents and helping in efficient management of traffic.
- Encourages economic development and increases revenue
- Helps in revitalizing struggling areas
- Promotes preservation and enhances traditional village centres
Noida Developmental Plan 2013
For the development of a city-level commercial centre, City Centre, in Sectors 32 and 25, Noida’s Master Plan-2031 has allocated 98.59 hectares of land. In addition to the same, other commercial centers have also been planned along the Noida-Greater Noida Expressway and the major arterial roads spread at different places in the city.
Some of the sectors in Noida, like 8, 15, 16 and 32, have been experiencing frenetic development and are turning into residential cum commercial hotspots, mainly due to their high potential of real estate development and commercial activities. Moreover, these areas enjoy a good connectivity to the National Capital, Delhi.
Demand for office space
As per CBRE survey reports, Noida witnessed completion of large Grade A office supplies, with approximately 613,000 sq ft of IT office space getting completed in the fourth quarter of 2011. Logix Technova by Logix Grou, developed in Sector 132, was one of the most prominent developments under IT/ITeS segment. The same covered an area of 270,000 sq.ft. Under the commercial segment, Unitech Infospace (Phase 1) Tower 2 by Unitech Group was the prominent one. It was set up in Sector 62, and covered an area of 340,000 sq.ft.
Forthcoming residential projects
Few of the many forthcoming residential projects in Noida include Urban Young by Cosmic Group on Yamuna Expressway, featuring 2/3 BHK apartments that cover an area of 1050-1850 sq.ft ; Sikka Kaamna Greens in Sector-143, fearturing 1,2,3 and 4BHK apartments covering an area of 650-2075 sq.ft.; Paras Seasons by Paras, in Sector 168, featuring residential apartments that cover an area of 1165-1695 sq.ft.
