Another major development has taken place in Noida’s real estate market, specifically concerning Sector 151. The authority has successfully concluded the auction for two prime land parcels designated for residential projects in Sector 151, generating revenue of approximately 666 crore rupees. Godrej Properties and VRC Construction emerged as the highest bidders in the auction.
According to the authority, the reserve price for a 20,050 square metre plot was set at 245.74 crore rupees. After the bidding, VRC Construction placed a bid of 334.21 crore rupees for the plot, while Godrej Properties secured the other for 331.75 crore. This auction is being reviewed as a positive signal for Noida’s residential market.
Several major developers have invested in Noida over the past few months. Prior to this, the County Group purchased approximately 5 acres of land in Sector 151 for around 443 crore rupees, while Experion Developers acquired a similar 5-acre land parcel in the same area for about 450 crore rupees. These successful deals indicate that major developers are highly optimistic about Noida’s future.
Experts believe that the start of the Noida International Airport will make a major growth catalyst for this entire region. Demand for the corridor is rising rapidly due to the airport, the Noida Expressway, and easy connectivity to other parts of the Delhi-NCR region. Additionally, the proposed Tata Consultancy Service (TCS) campus in the vicinity could further boost employment and housing demand in the future.
Moreover, not only this, in recent times, reputed developers such as M3M India, Max Estates, Hero Realty, and Sobha have acquired land parcels in Noida and Greater Noida through auctions. This trend indicates that developers are aggressively building land banks to launch premium residential projects.
Property consultants also believe that due to the infrastructure project, significant growth in property value can be seen across several micro-markets in Noida. According to a report by Square Yards, apartment prices and plot values in the vicinity of the Noida International Airport could rise by approximately 22% and 28%, respectively, over the next two years.
Data from the past five years also reflects the market’s strong performance. During the period, apartment prices have nearly tripled, while the average value of plots has recorded an increase, or we can say grown by approximately 1.5 times. In certain micro-markets, land prices have even seen growth of up to fivefold. According to the experts, the expansion of infrastructure and the rising interest of investors could continue to drive momentum in the real estate sector of Noida in the future.
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