Noida and Greater Noida continue to be the choicest destination for real estate investors during 2024. According to the data for July-September this year, property registrations witnessed an increase of 6 percent on a year-on-year basis.
Also, the registration sale value ascended by 34 percent in the same tenure per the data shared by the Inspector General of Registration (IGR) and Square Yards. The average home sale crossed the mark of Rs.1 crore which is a 41 percent YoY increase.
From July to September 2024, a total of 8,128 properties were registered in Noida and Greater Noida representing 6 percent year-on-year growth. Greater Noida had an upper edge with 62 percent (5,001) properties of these transactions during Q3, 2024. The shared data is based on primary and secondary residential property in noida transactions.
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For Noida and Greater Noida, the twin cities, the combined registered residential sale value soar to Rs. 6,328 crore in Q3, 2024. In 2023, Q3, the average home sale was recorded for Rs. 4,718 crore reflect 34 percent growth this year.
Noida exhibited a robust performance with a 62 percent YoY increase in home sales value as compared to 13 percent in home sales. Residential properties including apartments and independent homes worth Rs. 3,291 crore were registered in Noida compared to Rs. 2,035 crore during the same tenure last year.
Parallel to this, residential properties in Greater Noida worth Rs. 3,037 crore were registered with IGR in July-September compared to Rs.2,683 crore in Q3, 2023. The rise in sales cost was reflected in transaction volume and it heightened growth in average home values.
Ravi Nirwal, Sales Director and Principal Partner, Square Yards said, that Noida and Greater Noida residential markets are seeing s sustained growth, bolstered by infrastructure advancements like the Jewar International Airport, which continues to strengthen both the commercial and residential sectors in these cities.
“In the September 2024 quarter, both cities posted notable double-digit growth in home sales value and registered transactions – a surge driven by robust demand across mid-range and premium housing segments. The growing preferences for high-end apartments have notably pushed average sales values, with average property value crossing the Rs. 1-crore mark in Noida” he said.
