The cities of Noida and Greater Noida, once known for affordable homes, have transformed into key areas for premium real estate. Market data reveals that property in Noida for sale has seen prices more than double in the past five years.
Significant Price Increases in New and Existing Properties
Data shows that the average prices for newly launched projects in Noida and Greater Noida have jumped by 152% and 121%, respectively, since 2019. The secondary market in Noida also saw an 81% increase during this period. This price surge in property in Noida for sale is driven by infrastructure upgrades, enhanced connectivity, economic growth, and strong buyer interest.
Shift in Buyer Preferences for High-End Homes
Experts say the demand for larger spaces and modern amenities has surged since the pandemic, with developers from other regions investing in Noida to meet this need. Major companies such as Prestige Group and Godrej Properties are now offering premium property in Noida for sale, catering to new buyer demands.
Rising Prices of New Housing Projects in Noida
As of September 2024, the average price for newly launched homes in Noida reached Rs 14,946 per square foot, a 152% increase from 2019. Prices for new 2BHK units surged by around 180%, and new 3BHK homes saw a 146% rise, reflecting strong demand for property in Noida for sale.
Greater Noida Sees Similar Price Growth
Greater Noida also experienced significant appreciation, with average prices for new projects rising over 120% since 2019. The price for new 2BHK units in Greater Noida increased by 122%, while 3BHK prices went up by 134%, making property in Noida for sale a hot investment opportunity.
Decline in Unsold Inventory in Noida and Greater Noida
The number of unsold housing units in Noida decreased by more than half, from 11,379 units in 2019 to 4,745 units in September 2024. Greater Noida saw a similar decline, with unsold inventory dropping to 9,953 units, indicating high demand for property in Noida for sale.
Strong Secondary Market Growth in Noida and Surrounding Areas
Noida’s secondary housing market also grew, with prices for 2BHK units in Central Noida increasing to Rs 8,150 per square foot in 2024, and 3BHK units reaching Rs 11,500 per square foot. On the Noida-Greater Noida Expressway, average prices for property in Noida for sale rose by 64% for 2BHKs and 67% for 3BHKs, showing a robust market for resale properties as well.
Increased Demand for Commercial Spaces
The commercial real estate sector in Noida has also expanded, with more tech giants and multinational corporations establishing offices. Major companies like Infosys and Microsoft are boosting demand for commercial property in Noida for sale, leading to a 40% growth in the commercial sector over the past five years.
Key Factors Driving Real Estate Growth in Noida
Experts attribute the transformation of Noida’s real estate market to strategic infrastructure projects, better metro connectivity, and expressway expansions. Previously known for affordable housing, Noida is now a bustling center attracting both homeowners and investors.
Central Noida and Expressway Attracting Premium Buyers
Central Noida and the Noida-Greater Noida Expressway are increasingly popular with upper-middle-class buyers due to proximity to major infrastructure projects, including the Jewar Airport and the planned Film City. These areas are becoming prime locations for property in Noida for sale, drawing more high-end buyers.
Real Estate Growth Supported by Corporate and Retail Interest
Corporate offices and shopping centers in Noida are also adding to the area’s popularity, with branded developers entering the market. Factors such as the upcoming Noida International Airport and the presence of renowned developers are increasing confidence among buyers interested in property in Noida for sale.
Future Prospects for Real Estate Growth in Noida
The future of Noida’s real estate market looks promising, with projects like the Delhi-Mumbai Industrial Corridor (DMIC) and Film City expected to boost commercial investments. Plans to extend the Noida Metro to Jewar Airport will further enhance connectivity, making property in Noida for sale a highly sought-after option for buyers and investors alike.
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