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Noida is giving a fresh push to its commercial real estate and retail landscape with plans to offer 34 food and retail kiosks in two of the city's busiest commercial locations, Sector 18 and the area near GIP Mall in Sector 38A.
According to the Noida Authority, 19 kiosks will be located near Gate 2 of GIP Mall in Sector 38A, while another 15 will be placed at different locations in Sector 18. The kiosks will be allotted through e-auction for seven years, with the possibility of extending the licence by another three years.
The Sector 38A kiosks are planned as a themed commercial and food destination. Eleven will be earmarked for food businesses and eight for non-food businesses. In Sector 18, the kiosks can accommodate businesses such as clothing, books, art, watches and mobile-related products.
The proposed reserve price for the e-auction is ₹532 per sq ft per month per kiosk, while the licence fee will increase by 10% annually.
For Noida's commercial real estate market, the initiative could increase organised retail activity and improve the experience for visitors in high-footfall areas.
Source: Times of India
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