According to PropEquity data, the weighted average price o new launch projects in Noida has seen surge of approximately 152 percent, reaching Rs 14,946 per square foot (psf) in 2024 (up to September) compared to Rs 5,910 psf in 2019, prior to the Covid-19 pandemic. This significant increase highlights Noida’s rapid growth in the real estate sector, attracting substantial interest and investment.
Traditionally known for affordable and mid-segment properties, Noida and Greater Noida have evolved over the past five years into key hubs for premium real estate. Market experts and available data indicate a doubling of property prices in these regions during this period. Specifically, weighted average prices of newly launched housing projects in 2024 surged by 152 percent in Noida and 121 percent in Greater Noida since the pre-pandemic years of 2019-2020. Noida's secondary housing market also experienced notable appreciation, with a price increase of around 81 percent over the same five-year period.
The transformation of Noida into a desirable destination for high-end residential projects can be attributed to multiple factors. Infrastructure upgrades, enhanced connectivity, a rise in economic activity, and positive buyer sentiment have all played a pivotal role in this shift. The region's appeal is further amplified by its strategic location and robust development initiatives, positioning Noida and Greater Noida as top choices for both investors and homebuyers seeking premium properties.
Overall, the growth trajectory of Noida's real estate market underscores its status as a booming sector within Delhi-NCR, redefining itself from an affordable housing market to a hotspot for luxury and premium projects, with prices reflecting this remarkable evolution.
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