Noida and Greater Noida witnessed a noticeable upswing in homebuyer curiosity in October-December 2023 (Q4 2023), recording 7,481 transactions amounting to Rs 3,179 crore, in accordance with Square Yards Data Intelligence for property registered by the Inspector General of Registration (IGR), UP.
Nirala World led when it comes to quantity and models registered with 371 models amounting to Rs 203 crores adopted by Ace Group recording 259 registrations totaling Rs 181 crores within the October-December quarter.
Gaurs Group and Gulshan Homes additionally skilled good uptake for his or her stock this quarter which is obvious of their property registrations and sale worth.
Anupam Rastogi, co-founder and CBO-NRI of Square Yards, mentioned, “Noida and Greater Noida have everything that epitomises a modern cosmopolitan city. Excellent road and metro connectivity, strong infrastructure, bustling business and IT hubs, and affordability have made the twin cities potential real estate hotspots.”
He added that the brand new Jewar International Airport has proved to be a shot within the arm for the area’s prospects, positioning it for an actual property increase. Moreover, there’s a correct mix of housing stock catering to all walks of life, that has caught the eye of homebuyers, fostering robust demand and paving the best way for future development alternatives.
In phrases of tasks, the Greater Noida area exhibited the best variety of registrations within the present quarter. Nirala World and Ace Group stood out as dominant gamers within the mission charts. Nirala Estate in Greater Noida recorded 377 models registered, accumulating Rs 206 crore within the fourth quarter, whereas Ace Divino adopted intently with 274 registrations amounting to Rs 194 crore.
With Delhi having already reached a saturation level and homebuyers discovering themselves priced out of the Gurugram actual property market, Noida and Greater Noida have emerged as worth-oriented actual property locations. Featuring aggressive actual property costs and a wide range of housing codecs to select from, the dual cities current a plethora of decisions for discerning homebuyers.
However, Greater Noida scored a giant edge over its counterpart on this quarter which is obvious in 94 per cent of the transactions on this area. Greater Noida West and Noida Extension have witnessed essentially the most transactions as a consequence of their prepared-to-transfer, reasonably priced and luxurious residences and good societies, much less density, quieter environs and nearness to instructional institutes, industrial hubs and workplace campuses.
Conversely, Noida’s micro-markets witnessed a decline in transactions attributed to a discount in provide within the metropolis and the supply of extra premium but reasonably priced choices in Noida’s peripheral areas and in Greater Noida.
In all, Noida and Greater Noida’s realty situation has modified lots as a consequence of its superior infrastructure than the remainder of the suburbs of the nationwide capital area. The cities’ increasing metro community, growing enterprise and IT hubs and good-high quality residential tasks famend for delivering worth-oriented returns have collectively positioned this area as a distinguished realty hub in North India.
