Noida and Greater Noida continue to see expansion in office space absorption, despite issues of connectivity and uninterrupted power supply. Many IT companies find value in expanding back-end operations in the twin cities as rentals are still much lower than Gurgaon.
Analysts say despite a slight increase in rates over the past two years, office space rentals in Noida and Greater Noida hover between Rs 50 and Rs 55 per sq ft (psf), which are at least Rs 20 psf cheaper than the Millennium City. In comparison, office spaces in Gurgaon command rentals of Rs 70 to Rs 75 psf.
3 Pillar Global, a USA-based IT company with back-end offices in Romania and India, plans to expand its Noida offices from 300 to 450 seats over the next one year.
Read more: Times of India
