Remarkable Growth in Property Valuations

The real estate market in Noida and Jewar has experienced a tremendous surge, with significant increases in the prices of both under-construction and ready properties. According to a recent report by MagicBricks, Noida has seen a staggering 69% year-on-year rise in the prices of under-construction properties, while overall residential prices have jumped by 46.2%. Notably, areas like Sector 7X (Sector 74-79) and regions along the Dadri GT Road have emerged as the most searched locales.

Rising Demand and Prices in Residential Properties

The report indicates a 15.72% year-on-year increase in the demand for residential properties in Noida, with supply also rising by 13.1%. This surge has led to a notable increase in residential prices, now averaging ₹11,625 per square foot. The prices of under-construction properties have skyrocketed from ₹7,547 per square foot in the July-September 2023 quarter to ₹12,758 per square foot in 2024.

High Demand for 3 BHK Apartments

Among the various property types, 3 BHK apartments top the list of consumer preferences, with an average price of ₹11,300 per square foot. These apartments account for 64% of the total demand in Noida. Additionally, the demand for 2 BHK flats, priced at ₹8,400 per square foot, is also rapidly increasing, making up 22% of the property searches in the region.

Most Searched Areas in Noida

The MagicBricks report highlights that areas around the Faridabad-Noida-Ghaziabad (FNG) Expressway, such as Noida 7X, Noida Expressway (towards Pari Chowk), and Dadri Main Road, are the most sought-after locations. Residential rates in these areas range from ₹11,700 to ₹15,300 per square foot.

Luxury Living: Villas and Builder Floors

In Noida, luxurious villas are averaging ₹18,900 per square foot, while builder floors are priced at ₹3,800 per square foot. The average price for multi-story apartments stands at ₹10,100 per square foot, making the region highly attractive for investment.

A Prime Hub for Investment and Living

The rising demand and escalating property prices in Noida indicate that the area is not just a hotspot for real estate investment but also an increasingly desirable place to live.