Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Wave City Center to cater for growing demand of service apartments

By Rocky Singh Subscribe to RSS | March 1st 2012 | Views:

With a rapid increase in the number of business travelers, mostly employed with multinational companies/ diplomatic missions/outsourcing sector etc, the demand for temporary residence or serviced apartments has considerably risen. Currently, the NCR market offers a wide range of serviced apartments varying in facilities, space and ambience to suit the needs of the clients.

Another popular format is the mixed-use development, which incorporates serviced apartments in the larger commercial development including office and/or retail spaces. One such example is Wave Service Apartments which is a part of Wave Mega City Centre project from Wave Infratech. Wave Mega City Centre project is spread across more than 150 acres in Sector 25(A) and Sector 32, Noida. Wave Mega City Centre project offers Residential and Commercial (Shop Cum Office) space in the Heart of Noida. Wave Mega City Centre is a project coming with Commercial and hotel, Retail, Residential, Multiplexes and many more.

Majority supply in this sector can be categorised as unorganised where independent buildings or apartments, owned by individuals or entities are, leased out on a per month basis and run as serviced apartments. South Delhi and Gurgaon have seen numerous such apartments being offered owing to the prestigious address value and growing attractiveness as a business destination, respectively.

Location is the prime factor in determining the rental values of serviced apartments. Rents also vary depending upon quality of construction, furnishing / interiors fit outs and services provided in the apartment. Interestingly, in metros, 12-18 per cent of the hotel business is extended stay, which is two weeks or more. The potential for this segment can be gauged by the fact that at least another 20 per cent stay in guest houses or private homes of companies.

The potential for this market to grow, though the base is pretty small right now, is extremely high, particularly due to the services sector and increased penetration in not just primary, but secondary and tertiary markets as well. The sectors generating this demand are IT, ITes, BPO, KPO, bio-technology and to some extent manufacturing, particularly during new setups, consulting and financial services, infrastructure and telecom. Another big segment that could start using serviced apartments will be visitors for medical tourism. There could be players who will build serviced apartments next to large hospitals to cater to that kind of demand.

A growing number of players have already decided to step into this segment and are getting ready to launch their brand of serviced apartments.

Rocky Singh - About Author:
A growing number of players have already decided to step into this segment and are getting ready to launch their brand of serviced apartments.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Business Articles Subscribe to RSS

Assembly work through fulfillment center, fulfillment facilities as well as fulfillment warehouses.
Published by Ema Sis on July 20th 2012 | Business
In the fashionable business world, it will not pay to commit full-time employees to achieve tasks wh...
Park city Resorts
Published by Dany on February 25th 2012 | Business
As we all know that Park City is a tourist place in the midst of mountains and greenery. There are m...
Invest in a lucrative city Mohali
Published by Deepti on March 21st 2012 | Business
In the last few decades, a number of cities have succeeded to list themselves in those attractive c...
Discount medical supply store in your city
Published by Chooseems on July 6th 2012 | Business
You need to be extra careful while shopping on the internet. When it is about buying medication, the...
Wind Turbine Installations Equipped with Eco-tri-city
Published by Jonathan on March 23rd 2012 | Business
Green energy is now being harnessed in full capacity for both commercial and domestic purposes. Wind...
First hand guide for all information related to the city of Preston
Published by Coloprilreview on November 25th 2011 | Business
Activ Preston is a comprehensive online guide on shopping Preston and activities Preston....
Wave city Center sector 32 & 25a noida
Published by Nofrillsdeal on August 6th 2012 | Business
Wave City Centre Noida. Wave City Centre is situated at the center of noida. Wave city centre proper...
Make the best out of an amazing city Mohali
Published by Deepti on March 22nd 2012 | Business
India has seen an enormous growth in the real estate industry both in residential as well as commerc...
Business Telephone Systems: the nerve center of your business
Published by John Kumar on December 17th 2011 | Business
A telephone system as commonly understood represents the service that is provided by telephone compa...
Instability Continue inside of the B razil Prime city Current
Published by Andrew Thomas on July 27th 2012 | Business
Brazilian has been a getting fiscal system for several years and to conclude utilized how the indust...
Business Telephone Systems: the nerve center of your business office telephone systems
Published by John Kumar on December 17th 2011 | Business
Small business telephone systems could possibly be multiline systems in the offices of the small bus...
Personal Injury Law: when Can a Patient Sue a Medical center or a Physician for Negligence?
Published by Sheila R. Byron on March 28th 2012 | Business
We inhabit a world where all things are possible. Many things can happen and everything can put be i...
Data center Training and Monitoring
Published by Brian Hamilton on November 28th 2011 | Business
The Green Data center conference focuses on data center facilities, data center monitoring, and data...
Ways Robert Buggs is just altering that this city service provider at that Office having to do with Guidance
Published by Aldis Hodge on March 22nd 2012 | Business

Robert Buggs on the moment is the Chief People's Capital Official inside the Section create...
Convenience of riding scooters in crowded city
Published by Chris Luke on April 26th 2012 | Business
India is undoubtedly the 2nd largest manufacturer of two wheelers in the whole world. With different...