Greater noida real estate news property
The real estate market in Greater Noida is growing and moving into different segments which is good news for investors and home buyers. Let us take a deeper look at each of these aspects:
Surge in Property Registrations and Sales Value
The third quarter of 2024 saw property registrations in Greater Noida and its neighbouring city Noida. A total of 8,328 properties were registered between July and September 2024, a growth of 6% year-on-year. Greater Noida accounted for 62% of these transactions, reflecting the interest among buyers.
The combined registered home sales value for Noida and Greater Noida during this time period rose to ₹6,328 crore, showing a good growth of 34% year-on-year. This surge in sales value reflects the demand for residential properties in the region.
Rising Average Home Prices
The average price of homes sold in Greater Noida reached ₹ 61 lakh in the July-September 2024 quarter, showing a growth of 13% from ₹ 54 lakh during the same period in 2023. These property prices show how beneficial it is to invest in Greater Noida.
Launch of Luxury Housing Projects
Developers are capitalising on the growing demand for premium housing in Greater Noida. For instance, the Gaurs Group launched a luxury residential project called ‘Legacy by Gaurs’ in Jaypee Greens, which comprises of around 255 units. The project has seen massive growth with around 200 apartments sold, generating sales worth ₹1,300 crore. These residences are spacious, offered in sizes between 3,500 sq ft and 4,700 sq ft, catering to the taste of luxury homebuyers.
Factors Driving the Market Growth
Diffrent factors contribute to the buoyant real estate market in Greater Noida:
Infrastructure Developments:Infrastructure development: Projects such as the upcoming Jewar International Airport and metro extension are enhancing connectivity and accessibility, making Greater Noida a more attractive destination for residents and businesses
Economic Opportunities: The proximity of the area to major commercial centres and industrial areas provides ample employment opportunities, attracting people looking for residential options.
