Move Over Gurgaon, Greater Noida Is Going Global

Real estate investors rightly estimate that the growth potential of Greater Noida is very high. Lending credence to predictions is the fact that in recent months, many large multinational companies have announced plans to invest in Greater Noida. The Uttar Pradesh government offers various incentives to such firms under its infrastructure and industrial investment policy. The electronic manufacturing policy of Uttar Pradesh too offers many incentives to multinational companies that specialize in electronics manufacturing.

Let us look at the recent investment plans international giants have announced:

1. The biggest Chinese private property developer Dalian Wanda Group expressed its interest in investing in lifestyle and commercial real estate in Greater Noida. Dalian Wanda is also the largest cinema chain operator in the world. The $86 billion worth company decided to invest in Greater Noida after Indian Prime Minister Narendra Modi visited Beijing. Representatives of Dalian Wanda met Santosh Yadav, the CEO of Yamuna Expressway Industrial Development Authority (YEIDA) to inquire whether they would be able to find 500 acres of land along the Expressway to build a mixed-land use township.

2. A few weeks ago, the Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) announced that they would invest $200 million in the electronic manufacturing sector in Greater Noida with complete support from the Uttar Pradesh government. TEEMA plans to facilitate the formation of an electrical and electronics manufacturing cluster in Greater Noida. 

3. Scartlet, a Dutch telecom company, announced its plan to set up an electronic product manufacturing company in Greater Noida. Scarlet is an internet service and telephony provider. With the help of the Uttar Pradesh state government, they may set up a plant in Greater Noida's electronic manufacturing cluster.

In areas where Scarlet and other firms wants to set up plants, land is in great demand. Foreign investment in this sector is of great significance because at present, there is no electronic chip manufacturing or semiconductor wafer fabrication plant in India. In India, domestic electronics requirement is entirely met through imports.

With such investments, the level of consumption and development of real estate infrastructure to support such consumption is expected to grow, raising the price of property in Greater Noida.