Chitranjan Saxena, a real estate consultant with an experience spanning over two decades advises SMEs to go for a small in the beginning and expand with your requirement. Here is his five-must-know recipe for SMEs who look forward to set up office in NOIDA.FIVE MUST KNOW FOR SETTING UP OFFICE IN NOIDA

Many options

In NOIDA there are many options available. If you want a cheaper space, you should go for Sector 2 to Sector 10 that is industrial. You can get 35000 to 40000 sq ft area easily. Fully furnished space is available with AC and power back up in the range of Rs 50 to Rs 60. These sectors are well connected with Metro Rail too.

Space is cheaper in Sector 63 and Sector 64 but Metro connectivity is not available yet. In Sector 18, commercial space is available on rent in the range of Rs 80 to Rs 100.

Offices in centers are an attractive option in the beginning. Offices are costly but very convenient. You just have to make some deposit and you can start your office right away. You are charged per seat. It is good for liaison offices and temporary set ups.

Beware of hidden charges

Entrepreneurs should clearly understand that space on rent will be charged on total area that is super area. In industrial plots, there is no big difference in super area and covered area as you normally go for a full floor. But in commercial space, 35 to 40 per cent goes in super area. That means if you take 1000 sq ft, you only get around 600-650 sq ft for use but you have to pay all charges like maintenance, etc on 1000 sq ft. In industrial areas you get more covered areas that in commercial areas.

 Plan meticulously

You must plan in advance the kind of space you require, the kind of budget you are looking at, the kind of earning you expect from your business. It is advisable to keep scope for future expansion. Suppose you require 1000 sq ft now and in immediate future you need to hire more people. In such a case, it is advisable to go for 1200 to 1300 sq ft area in the beginning.

Most important! Hire a local person who can guide you through the process. This will save a lot of money.

 Legal angle

In industrial areas, it is advisable to go for 11-month agreement that can be renewed for three to five years. Getting the office registered is costly as you need to pay a hefty sum to NOIDA Authority.

Start with a small office

For SMEs, small office set up in the beginning is good. Affordability is the most important factor.  Remember you can always hire a bigger space when you require. Small offices in the beginning of the project can save a lot of money.

Grow as your business grows.

Chitranjan Saxena can be contacted at 

Estate Consultants
13th floor, Vandana Building
11, Tolstoy Marg
New Delhi-110001
Call: +91 11 23719392 +91 11 23354787
Mobile:+91 9811038187, +91 9718238187