Noida, Greater Noida—Noida and Greater Noida have solidified their status as prime destinations for real estate investment, fueled by a symbolic infrastructure drive. Key developments such as the expansion of the Metro system and the construction of Jewar International Airport are bringing heightened demand for both residential and commercial properties in these regions.
The Uttar Pradesh government’s ambitious plan to transform the Yamuna Expressway corridor into a comprehensive hub for residential, industrial, institutional, corporate, and entertainment purposes, creating substantial employment opportunities, has further boosted the appeal of these cities.
According to a recent report by Square Yards, the real estate market in Noida and Greater Noida saw a notable surge in the second quarter of 2024, with residential transactions increasing by 29 percent year-on-year. The total sales value for this period reached ₹6,013 crore, marking a 59 percent year-on-year rise.
Greater Noida West, also known as Noida Extension, led the market with 35 percent of the registered transactions, while Noida Central and Noida Expressway attracted buyers seeking high-value properties. Noida Expressway recorded the highest average transaction value at ₹1 crore.
Infrastructure fuels growth
Saurav Sharma, Sales Director at Trisol RED, attributes the surge in real estate activity to robust infrastructure developments. He noted, “The upcoming Jewar International Airport, improved metro connectivity, and substantial investments by the Greater Noida Authority are enhancing the value of these cities, making them increasingly attractive to homebuyers and investors.”
Yash Miglani, Managing Director of Migsun Group, emphasized that the region’s growth reflects its evolving role as a corporate hub and its proximity to Jewar Airport. “Noida and Greater Noida are becoming the preferred destinations for real estate investment due to their growing prominence and potential,” Miglani said.
Shifting buyer preferences
There has been a noticeable shift in buyer preferences towards spacious, premium homes with high-end amenities. Salil Kumar, Director of Marketing & Business Management at CRC Group, observed, “Noida Expressway and Greater Noida are leading examples of this trend, with average home sales values approaching ₹1 crore in Noida, and Greater Noida following closely behind.”
Optimistic outlook
In recent years, Noida and Greater Noida have emerged as leading sub-cities in the Delhi-NCR real estate market, offering high-value propositions. Neeraj Sharma, Managing Director of Escon Infra Realtor highlighted that the completion of Jewar International Airport and the entry of prominent developers into the market are significant factors in this growth. “The twin cities continue to evolve, presenting new opportunities for investment and living. They are well-positioned for further development in the coming quarters,” Sharma concluded.
