Noida and Greater Noida See 6% Rise in Home Registrations for Q3 2024
Residential property registrations in Noida and Greater Noida witnessed a 6% increase in the third quarter of 2024, with a total of 8,128 units registered. Greater Noida accounted for 62% of these transactions.
NoidaGreater NoidaHome RegistrationsReal EstateInfrastructureReal EstateNov 18, 2024
The data indicates a significant increase in home registrations in Noida, which saw a 15% rise to 3,127 units, up from 2,720 units in the year-ago period. In contrast, Greater Noida experienced a marginal 1% increase, with 5,001 units registered compared to 4,973 units in the same period last year.
Ravi Nirwal, Sales Director and Principal Partner at Square Yards, highlighted the substantial growth in the combined registered home sales value, which reached Rs 6,328 crore, marking a 34% year-on-year (YoY) increase. He attributed this growth to the significant infrastructure developments, particularly the Jewar International Airport, which has bolstered both the commercial and residential sectors in these cities.
Amit Modi, Director of County Group, a leading real estate firm, observed a clear shift towards integrated luxury communities in Noida and Greater Noida. He noted that these developments are not only enhancing the living standards but also attracting a wider range of investors and homebuyers.
Sanjay Sharma, Director of SKA Group, further emphasized that Noida and Greater Noida are emerging as key hotspots for high-end real estate. The development of modern infrastructure, coupled with the growing demand for quality housing, is making these areas increasingly attractive for both domestic and international buyers.
In summary, the robust growth in home registrations and the rising sales value in Noida and Greater Noida reflect the positive trends in the local real estate market. With ongoing infrastructure projects and the increasing focus on luxury housing, these cities are poised to continue their upward trajectory in the coming years.
Frequently Asked Questions
What is the percentage increase in home registrations in Noida and Greater Noida for Q3 2024?
The home registrations in Noida and Greater Noida increased by 6% in Q3 2024.
How many units were registered in total in Noida and Greater Noida in Q3 2024?
A total of 8,128 units were registered in Noida and Greater Noida in Q3 2024.
What percentage of the transactions in Q3 2024 were in Greater Noida?
Greater Noida accounted for 62% of the transactions in Q3 2024.
How much did the combined registered home sales value increase in Noida and Greater Noida for Q3 2024?
The combined registered home sales value increased to Rs 6,328 crore, marking a 34% YoY growth.
What infrastructure project is contributing to the growth in Noida and Greater Noida's real estate market?
The Jewar International Airport is a significant infrastructure project that is contributing to the growth in Noida and Greater Noida's real estate market.
Related News Articles
PBB's Q2 2024 Profits Plummet 74% Amid US Real Estate Crisis
PBB's profits fell sharply due to its exposure to the struggling US commercial real estate market, hit by rising interest rates, falling property values, and high office vacancies.
MahaRERA Conciliation Forums Resolve 1,749 Homebuyer-Developer Disputes
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has successfully resolved 1,749 disputes between homebuyers and real estate developers through its conciliation forums. These forums, established in 2018, have significantly improved the resoluti
Nithin Kamath Expresses Concerns Over Pollution and Luxury Real Estate
Zerodha CEO Nithin Kamath discusses the rising pollution levels in India and their potential impact on the luxury real estate market.
Blackstone-Panchshil Partnership to Construct India's Largest 500 MW Hyperscale Data Hub
Blackstone and Panchshil have announced a major partnership to build India's largest 500 MW hyperscale data center hub in Pune, Maharashtra. This ambitious project marks a significant step towards boosting India's digital infrastructure and attracting glo
Adani Group's Mega Projects in Mumbai Face Environmental Scrutiny
Adani Group is pushing forward with two major projects in Mumbai, one of the world's most expensive real estate markets, amid environmental concerns and regulatory hurdles.
Sohail Khan Earns Rs 10 Crore in Rent from High-Profile Bandra Property
Sohail Khan, a prominent figure in Mumbai's real estate scene, has secured a lucrative five-year lease deal for his property in Bandra. The property, located in one of Mumbai's most upscale neighborhoods, has been rented out to The Irish House Food and Beverages Pvt Ltd. for a staggering Rs 10 crore in rent.