Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
NoidaGreater NoidaReal EstateHome SalesJewar International AirportReal Estate NewsNov 18, 2024
Greater Noida took the lead in this rally, accounting for 62% of the transactions. In Noida, the registration of homes increased by 15% to 3,127 units from 2,720 units, while Greater Noida saw a marginal 1% increase to 5,001 units from 4,973 units during the period under review.
The combined value of registered home sales in Noida and Greater Noida rose to Rs 6,328 crore, marking a significant 34% year-on-year (YoY) growth. This growth is attributed to several factors, including the development of new infrastructure projects such as the Jewar International Airport, which has bolstered both the commercial and residential sectors in these cities.
Ravi Nirwal, Sales Director and Principal Partner at Square Yards, commented, 'Noida and Greater Noida's residential market is experiencing sustained growth, driven by infrastructure advancements like the Jewar International Airport. These developments continue to strengthen the appeal of these cities for both residential and commercial investments.'
Amit Modi, Director of the realty firm County Group, observed a clear shift towards integrated luxury communities in Noida and Greater Noida. 'There is a growing demand for high-quality, integrated communities that offer a premium lifestyle,' he noted.
Sanjay Sharma, Director of SKA Group, echoed similar sentiments, stating, 'Noida and Greater Noida are emerging as key hotspots for high-end real estate. The infrastructure developments and the overall growth in these areas are making them increasingly attractive for developers and buyers alike.'
In conclusion, the residential market in Noida and Greater Noida is on a steady growth trajectory, with infrastructure improvements and a shift towards luxury communities playing a crucial role in this development.
Frequently Asked Questions
What is the percentage increase in home registrations in Noida and Greater Noida in Q3 2024?
The home registrations in Noida and Greater Noida increased by 6% in Q3 2024 compared to the same period last year.
How many units were registered in Noida and Greater Noida during Q3 2024?
A total of 8,128 units were registered in Noida and Greater Noida during the July-September quarter of 2024.
What is the growth in the combined value of registered home sales in Noida and Greater Noida?
The combined value of registered home sales in Noida and Greater Noida rose to Rs 6,328 crore, marking a 34% YoY growth.
Which area accounted for 62% of the transactions in Q3 2024?
Greater Noida accounted for 62% of the transactions in Q3 2024.
What are the key factors driving the growth in the residential market in Noida and Greater Noida?
The key factors driving the growth in the residential market include infrastructure advancements such as the Jewar International Airport and a shift towards integrated luxury communities.
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