Noida and Greater Noida are taking the greatest benefits from the sustained growth of the Delhi- NCR real estate sector. Demand for property in Noida and Greater Noida in these areas has grown significantly due to infrastructure development, metro connectivity, and the upcoming Jewar International Airport.
During the July -September 2024 quarter, a total of 8128 residential property transactions were registered in Noida and Greater Noida, an increase of about 6% compared to the previous year. The value of registered home sales during this period reached approximately Rs. 6,328 crore, reflecting an impressive year- on- year growth of 34%.
Property prices set a new record in Noida
According to market data, the average home sales value in Noida has risen to Rupees 1.05 crore, while the average property in Greater Noida is valued at approximately Rs. 61 lakh. This trend indicates that home buyers are now prioritizing premium and spacious homes with affordable housing options.
Experts believe that metro expansion, Expressway connectivity, and commercial development have significantly strengthened the Noida property market. Today, many buyers are prioritizing the purchase of a home in Noida for long- term investment and a better lifestyle.
Big Impact of Jewar Airport and Infrastructure Projects
Infrastructure development is the major factor behind the growth of Noida and Greater Noida. Jewar International Airport project, Noida-Greater Noida Expressway, FNG Corridor, and metro connectivity projects improved the connectivity of the region.
Due to this reason, in the Greater Noida real estate and Noida Realty sector, investors are gaining confidence. According to the experts, further appreciation in residential and property values could be seen once the airport becomes operational.
A rise is seen in the premium housing segment’s demand
In the July-September 2024 quarter, a tremendous amount of growth is seen in the apartments of 1,500 to 3,000 square feet. Along with this, the share of properties priced above Rs 1 crore has also increased. Indicating a rapidly rising demand for apartments in the premium segment in both Noida apartments for sale and Greater Noida apartments for sale.
Noida Extension and Noida Central are the Top Performers
In terms of market performance, Noida Extension, Noida, and central Noida have been emerging as the most active residential micro- markets. They both account for approximately 57% of the total home sales value.
Noida Extension, Noida, recorded the highest number of residential transactions. Driven by factors like affordable pricing, excellent connectivity, and new residential projects. Meanwhile, Central Noida remains a preferred destination for premium housing demand.
The Noida Expressway also continues to be the top choice for buyers seeking high- value properties, with average property values there exceeding one crore rupees.
What is the opportunity for the Investors?
Real estate experts believe that both Noida and Greater Noida remain strong markets for long- term investment. Increasing employment opportunities, the growth of commercial hubs, and infrastructure expansion are supporting future appreciation.
If you are looking for a Noida house for sale or a premium property in Greater Noida, now might be the right time to closely evaluate the market. Consistent growth is seen in both demand and prices, which indicate a bright future for the region.
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