Noida, November 18, 2024 – The residential real estate market in Noida and Greater Noida has marked an extraordinary phase of growth, underscoring its status as a leading region in Delhi NCR. Home sales in these cities surged by 34% year-on-year (YoY) in value during the July-September 2024 quarter, with transaction volumes also witnessing a healthy 6% YoY increase, according to a report by Square Yards.

This growth is not merely numerical; it reflects a shift in market preferences, with a rise in high-value transactions and larger apartment sizes driving the market’s momentum.

Sales Momentum: Key Highlights

A total of 8,128 residential transactions were registered during the quarter, with Greater Noida accounting for 62% of these. The combined registered sales value reached ₹6,328 crore, reflecting robust demand across the region.

Noida’s Rise: The city saw an impressive 62% YoY growth in home sales value, reaching ₹3,291 crore.

Greater Noida’s Steady Growth: Registered sales value increased by 13% YoY to ₹3,037 crore.

Surging Average Values: Noida’s average home sales value climbed to ₹1.05 crore, a 41% jump YoY, while Greater Noida’s average rose to ₹61 lakh, up by 13%.

Market Leaders and Projects Driving Growth

The competitive real estate landscape in Noida and Greater Noida is led by prominent developers, whose flagship projects are attracting significant buyer interest.

Top Developers by Sales Value

1. ABA County Group: ₹552 crore (378 units).
2. ATS: ₹292 crore (419 units).
3. Jaypee Greens: ₹269 crore (325 units).

Top Projects by Sales Value

ABA Ivy County, Noida: ₹322 crore (261 units).

ATS Nobility, Greater Noida: ₹250 crore (327 units).

While Noida dominated sales value, Greater Noida projects led in transaction volumes, reflecting the region’s diverse buyer base.

Shifting Trends: High-End Housing in Demand

The quarter showcased evolving buyer preferences:

Larger Apartments: Demand for apartments sized 1,500–3,000 sq. ft. increased from 21% to 28% YoY.

Luxury Housing Boom: Properties priced above ₹1 crore constituted 20% of transactions, doubling from 11% in 2023.

Micro-Market Dynamics

Noida Extension and Noida Central emerged as top-performing micro-markets, collectively contributing 57% of the total home sales value.

Key Micro-Markets

1. Noida Extension: 2,985 transactions (₹1,844 crore).
2. Noida Central: 1,912 transactions (₹1,796 crore).
3. Noida Expressway: Highest average sales value at ₹1.23 crore.

Factors Boosting Growth

Several factors are fueling the ongoing boom:

Infrastructure Development: Jewar International Airport, expanding metro connectivity, and Noida Film City are enhancing liveability and connectivity.

Corporate Presence: Increased commercial activity is driving housing demand among professionals.

Favorable Policies: Initiatives like allowing sales agreements with just 10% of the property value have improved buyer confidence.

What Lies Ahead?

The future of Noida and Greater Noida’s residential market looks promising. Developers are targeting high-demand areas like the Yamuna Expressway, leveraging the region’s strategic advantages. Rising demand for both mid-range and premium properties, coupled with continued infrastructure expansion, positions Noida and Greater Noida as leading investment destinations in India’s real estate sector.

With a growing appetite for luxury housing and robust market fundamentals, the region is set to attract even greater attention from homebuyers and investors in the coming years.