Greater Noida and Noida saw stellar sales growth in the fourth quarter (Q4) of 2023. There were 7,481 transactions in this period, which cumulatively amounted to Rs. 3,179 crore as per Square Yards Data Intelligence. This pertained to properties registered by the IGR (Inspector General of Registration), Uttar Pradesh.
Nirala World was the frontrunner by way of registered units and volumes, with 371 units (worth Rs. 203 crore) and it was followed by Ace Group which had 259 registrations that amounted to Rs. 181 crore for the quarter. Gaurs Group and Gulshan Homes also had good quarters in terms of sales values and registrations.
The Co-Founder and CBO-NRI, Square Yards, Anupam Rastogi, stated that Greater Noida and Noida possess all the attributes and key features of contemporary and cosmopolitan cities. He highlighted how they have transformed into real estate hubs with their top-notch metro and road connectivity along with robust infrastructure, buzzing IT and business hotspots, and overall affordability. He also opined that the Jewar International Airport has boosted the future prospects of the entire region, adding that it will lead to a boom in real estate throughout Noida and Greater Noida. He also stated that the housing inventory in these areas have the right balance while catering to people from all walks of life.
Greater Noida had the highest registration volumes with Nirala World and Ace Group posting 377 units and 274 units respectively. Noida and Greater Noida are fast becoming value-oriented property hotspots for buyers, especially with the saturation of the property market in Delhi. These cities offer attractive price points and multiple housing options. Greater Noida is slightly ahead, which is visible through the 94% of transactions it contributed in the entire region for Q4, 2023. Noida Extension and Greater Noida West saw the highest transactions owing to their availability of luxury and affordable ready-to-move units along with reputed housing societies, lower density, quieter surroundings, and proximity to commercial and office hubs along with educational institutions.
Transactions declined across micro-markets in Noida due to lower supply and higher availability of more affordable choices in peripheral zones and Greater Noida. The real estate prospects for the whole region, however, have taken a positive turn with excellent infrastructural growth as compared to other areas in the NCR (national capital region) and suburbs. The growing metro network and increasing IT and business presence are key factors along with high-quality residential projects that are offering decent returns to buyers. The Noida-Greater Noida region has transformed into one of the biggest real estate hubs in North India and the trend looks set to continue.
For a detailed report on this read the articles we were featured in:
Business Standard: https://bit.ly/3SBkYpa
Hindustan Times: https://bit.ly/4bugVnk
ThePrint: https://bit.ly/49b9U9q
News18 India: https://bit.ly/49azKKC
Primetimes: https://bit.ly/3wcnFpO
OfficeNewz: https://bit.ly/3uklRur
GoodReturns.in: https://bit.ly/3uz2I7S
Published Date: Feb 7, 2024
