Corporates, upscale apartments, and increasingly upscale dining establishments. Here's why Noida is experiencing a culinary boom

By Bricksnwall | 2024-12-20

By investing in capital expenditures or providing "bouquet" offers, real estate developers also encourage well-known restaurant chains to open locations in new complexes.

In addition to hundreds of homebuyers relocating to the new housing hubs along the Noida-Greater Noida Expressway and Greater Noida West, the Noida International Airport is anticipated to be operational by April 2025, and several corporates are setting up offices in Noida. As a result, well-known restaurant brands in Noida and Delhi are taking advantage of this opportunity by opening multiple locations to satisfy the palates of the expanding population.

Homegrown companies in Noida, like Desi Vibes, which first set up shop in the handy Sector 18 market 20 years ago, are now branching out to Sector 75 and Greater Noida West. But that's not all. Bollywood actress Sunny Leone and Sahil Baweja of Singing Bowls Hospitality opened the Chica Loca restaurant at Gulshan One 29 in Sector 129 in Noida last year. Sector 94 of Noida also saw the opening of Virat Kohli's One8 Commune.

Developers are encouraging restaurant companies to open additional locations by offering "bouquet deals" and investing in capital expenditures.

Another recent trend involves developers providing incentives to well-known retail companies in order to persuade them to open branches in their new complexes. This could take the kind of capital expenditures, or even a "bouquet" agreement whereby the developer opens restaurants in several locations.

In new housing hubs, restaurants serve those who are buying homes.

A number of food and beverage companies are opening locations in various Noida neighborhoods as a result of the city's growing population, according to Manish Aggarwal, senior managing director of JLL India Leasing, Capital Markets, Strategic Consulting, and Sales.

In addition to the corporates that have set up offices along the Noida Expressway, there are a number of new housing hubs popping up in Noida and Greater Noida. These new marketplaces present enormous opportunities for restaurateurs hoping to launch their enterprises in these regions in order to serve a new clientele. "There are new opportunities for restaurateurs as more of these corporate professionals move to these twin cities," he said.

According to Khera, who has operated the cafe Kaffiaa and the fine-dining establishment Desi Vibes in the Sector 18 market for nearly 20 years, Noida and Greater Noida also have cheaper leasing prices than Delhi and Gurugram.

He concurs that although some developers might provide bricklaying or civil support to help a restaurant become established, this is frequently included in the leasing prices. Additionally, a restaurant owner might not want to use the same developer for several locations, which would make the brand "generic." Additionally, each mall or retail location has a unique catchment that requires attention.

He acknowledged that if a developer wants to draw customers to a new property by bringing a well-known brand, he may even choose to cover the capital expenditures.

Only if the property is far away will a developer decide to invest in capital expenditures, according to Samir Srivastava, director of leasing Bhutani Group, which has commercial projects situated in the prestigious areas of Sector 90, Sector 140 A, Sector 133, Sector 150, and Sector 127. However, some developers might attempt to rationalize rentals by 12 to 15% for businesses that would want to expand to newer areas rather than invest in capital expenditures.

According to him, providing a discount might not always be beneficial; in the end, The durability of the brand and the clients it serves are guaranteed by the location.

Source: Hindustan Times