Noida and Greater Noida witnessed an increase in property demand from homebuyers in the fourth quarter of 2023 with as many as 7481 transactions amounting to ₹3179 crores getting recorded, according to data shared by online real estate platform Square Yards.
The data is based on the properties registered by the Inspector General of Registration (IGR), Uttar Pradesh.
In Noida, 247 properties worth ₹157 crore were registered in Noida Central during the period, while 205 units valued at ₹109 crore were registered on Noida Expressway, the data showed.
As many as 6,366 properties worth ₹2,643.7 crore were registered in Greater Noida West, also known as Noida Extension, and 643 units were registered in the ‘Yamuna Expressway’ area, the data showed.
“Noida and Greater Noida have everything that epitomizes a modern cosmopolitan city. Excellent road and metro connectivity, strong infrastructure, bustling business and IT hubs, and affordability have made the twin cities potential real estate hotspots. The new Jewar international airport has proved to be a shot-in-the-arm for the region’s prospects. There is a right mix of housing inventory catering to everyone and this has fostered strong demand,” said Anupam Rastogi, Co-founder and CBO-NRI, Square Yards.
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In terms of projects, the Greater Noida region exhibited the highest number of registrations in the current quarter.
However, Greater Noida scored a big edge over its counterpart in this quarter which is evident in 94% of the transactions in this region. Greater Noida West and Noida Extension have witnessed the most transactions due to their ready-to-move, affordable and luxury apartments and good societies, less density, quieter environs and nearness to educational institutes, commercial hubs and office campuses.
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Conversely, Noida’s micro-markets witnessed a decline in transactions attributed to reduction in supply in the city and availability of more premium yet affordable options in Noida’s peripheral areas and in Greater Noida.