Noida and Greater Noida See 6% Increase in Home Registrations in Q3 2024
Noida and Greater Noida recorded a 6% rise in home registrations in Q3 2024, with a total of 8,128 units. Greater Noida contributed 62% to the total growth, driven by infrastructure advancements and luxury communities.
Noida Real EstateGreater Noida Real EstateHome RegistrationsResidential PropertyReal Estate MarketReal Estate NewsNov 18, 2024
Greater Noida led the growth, accounting for 62% of the total transactions. The city registered 5,001 units, a marginal 1% increase from the 4,973 units in the year-ago period. Noida, on the other hand, saw a more substantial 15% increase, with 3,127 units registered compared to 2,720 units in the previous year.
The combined registered home sales value for both cities surged to Rs 6,328 crore, marking a 34% year-on-year (YoY) growth. This growth is attributed to several factors, including significant infrastructure developments and a shift towards integrated luxury communities.
Ravi Nirwal, Sales Director and Principal Partner at Square Yards, stated, 'Noida and Greater Noida's residential market is experiencing sustained growth, bolstered by infrastructure advancements like the Jewar International Airport. These developments continue to strengthen both the commercial and residential sectors in these cities.'
Amit Modi, Director of County Group, also noted that there is a clear trend towards integrated luxury communities in both Noida and Greater Noida. Sanjay Sharma, Director of SKA Group, added that these two cities are emerging as key hotspots for high-end real estate.
The Jewar International Airport, a major infrastructure project, is expected to further drive real estate demand in the region. The airport, once operational, will not only enhance connectivity but also attract more businesses and residents, further fueling the real estate market.
In conclusion, the residential market in Noida and Greater Noida is on a steady upward trajectory, supported by robust infrastructure and a growing preference for luxury living.
Frequently Asked Questions
What was the percentage increase in home registrations in Noida and Greater Noida in Q3 2024?
Home registrations in Noida and Greater Noida increased by 6% in Q3 2024, reaching a total of 8,128 units.
Which city led the growth in home registrations in Q3 2024?
Greater Noida led the growth, contributing 62% of the total transactions with 5,001 units registered.
What was the change in home registrations in Noida in Q3 2024 compared to the previous year?
Noida saw a 15% increase in home registrations, with 3,127 units registered in Q3 2024 compared to 2,720 units in the previous year.
What factors are contributing to the growth in the residential market in Noida and Greater Noida?
The growth is attributed to infrastructure advancements such as the Jewar International Airport and a shift towards integrated luxury communities.
What is the expected impact of the Jewar International Airport on the real estate market in Noida and Greater Noida?
The Jewar International Airport is expected to enhance connectivity, attract more businesses, and residents, thereby further fueling the real estate market in Noida and Greater Noida.
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