As many as 8,128 properties were registered in Noida and Greater Noida, representing a 6% increase during the July-September period. Greater Noida led the rally, accounting for 62% of these transactions during the quarter, as per data shared by the Inspector General of Registration.
As many as 7,693 units were registered in Noida and Greater Noida in the year-ago period, said consultant Square Yards.
Registration of homes in Noida increased 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, it showed.
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The combined registered home sales value for Noida and Greater Noida rose to โน6,328 crore, marking a substantial 34% YoY growth, the data showed.
Noida displayed strong performance, achieving a 62% YoY increase in home sales value, compared to a 13% increase in Greater Noida.
This higher growth in sales value, relative to transaction volume, has driven a notable rise in average home values, with Noidaโs average home sales value increasing to Rs. 1.05 crore and Greater Noida reaching Rs. 61 lakh in September 2024 quarter, it said.
Average sales value in Noida cross the โน1 crore mark
The housing market in Noida has witnessed a surge, with the average home sales value crossing the โน1 crore markโa 41% year-on-year growth, the data showed.
โNoida and Greater Noidaโs residential market is experiencing sustained growth, bolstered by infrastructure advancements like the Jewar International Airport, which continue to strengthen both the commercial and residential sectors in these cities,” said Ravi Nirwal, Sales Director and Principal Partner, Square Yards.
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“In the September 2024 quarter, both cities posted double-digit growth in home sales value and registered transactionsโa surge driven by robust demand across mid-range and premium housing segments. The growing preference for high-end apartments has notably pushed average sales values, with property value crossing the Rs. 1 crore mark in Noida. Recent initiatives, such as allowing sales agreements to commence with 10% of the property value, alongside upcoming metro and tech-infrastructure expansion, are set to further enhance buyer confidence, connectivity, and liveability in the region, fuelling residential demand even more,โ he said.
