Noida Property Price Trends: With demand (searches) increasing 15.72% YoY, and supply increasing 13.1% YoY, the aggregate asking residential price by homeowners has increased a whopping 46.2% YoY in Noida, shared Magicbricks in its recent PropIndex report. The average residential rate in this NCR town is Rs 11,625 per square foot (psf).
Noida Property Price Update
Magicbricks shared further that the average price of builder floors is Rs 3,800 psf, Rs 10,100 psf for multistorey apartments, Rs 17,000 psf for residential houses and Rs 18,900 psf for luxurious villas.
The report also noted that Noida 7X (near FNG), Noida Expressway South (towards Pari Chowk) and Dadri Main Road are the most searched areas. The average residential rate in these areas ranges from Rs 11,700 psf to Rs 15,300 psf.
Noida Property Rates News
The demand for under-construction properties has also increased significantly, driving prices up by a whopping 69% YoY, increasing from Rs 7,547 psf in Q3 ’23 (Jul-Sep 2023) to Rs 12,758 psf in Q3’24.
According to the portal, customer preference leans heavily towards 3-bedroom apartments (average price Rs 11,300 psf), comprising 64% of the total demand.
Following closely, 2 BHK units (average price Rs 8,400 psf) commanded 22% of searches in the area.
Why Noida?
Noida (New Okhla Industrial Development Authority) is a planned city in the state of Uttar Pradesh. It is part of the National Capital Region (NCR) of India and lies adjacent to Delhi, making it a popular choice for residential and commercial real estate due to its proximity to the capital.
Known for its well-developed infrastructure, Noida is a hub for IT, technology parks, educational institutions, and entertainment facilities. Over the years, it has seen rapid urbanisation and industrial growth, with a booming real estate market that attracts homebuyers and investors alike.
Comments
0 comment