Noida, Greater Noida Real Estate Market Hits New Highs

The residential real estate markets in Noida and Greater Noida have continued their upward trajectory, recording a 6% increase in home registrations during the July-September quarter of 2024. A total of 8,128 properties were registered, up from 7,693 units in the same period last year. Greater Noida accounted for a majority share of 62% of the transactions, while Noida saw a robust 15% growth in registrations, rising to 3,127 units. This dynamic growth, coupled with rising demand for mid-range and premium housing, underscores the region’s increasing attractiveness for homebuyers and investors.

The combined value of registered home sales in these cities reached an impressive ₹6,328 crore, marking a 34% year-on-year (YoY) increase. Noida led in value growth with a staggering 62% rise, compared to a more modest 13% in Greater Noida. The surge has pushed the average sales value in Noida to over ₹1 crore—a remarkable 41% YoY growth—while Greater Noida’s average home price climbed to ₹61 lakh. Analysts attribute this surge to robust infrastructure developments, including the Jewar International Airport and expanding Metro connectivity, which have significantly enhanced the region’s desirability.

From a sustainability perspective, the developments in Noida and Greater Noida are paving the way for eco-conscious urbanisation. Integrated transport systems, energy-efficient housing projects, and green initiatives are gradually being incorporated into the region’s real estate landscape. However, the rapid expansion also raises questions about sustainable resource allocation and civic infrastructure preparedness, which must be addressed to ensure balanced growth.

The region’s burgeoning real estate market reflects a shift in buyer preferences towards high-value properties and bolstered confidence due to progressive policies. Recent regulatory measures, such as initiating sales agreements with just 10% of the property value, alongside growing tech and commercial developments, are expected to further catalyse demand. The sustained momentum signals a promising future for Noida and Greater Noida’s residential sector, blending urban growth with evolving buyer aspirations.