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Wednesday, July 24, 2024

Noida & Greater Noida register residential property worth Rs 3179 crores in Q4 2023

Noida and Greater Noida witnessed a noticeable upswing in homebuyer interest in Q4, 2023, recording 7481 transactions amounting to Rs 3179 crores, as per Square Yards Data Intelligence for property registered by Inspector General of Registration (IGR), UP.

Nirala World led in terms of volume and units registered with 371 units amounting to Rs 203 crores followed by Ace Group recording 259 registrations totaling Rs 181 crores in the October-December quarter.

(Noida + Greater Noida) Top Developer by Sale Value – (Q4′ 2023) – Primary
 Developer NameTotal Registered Value in Cr.No. of Transaction
1Nirala World203.2371
2Ace Group181.2259
3Gaurs Group103.8213
4Gulshan Homz77.1171
5CRC Group66.8137
6ABA Corp63.7131
7SKA Group61.8118
8Samriddhi Group51.290
9Arihant Buildcon46.4121
10IITL Nimbus Group32.471

Data Source: IGR, UP, squareyards.com

Gaurs Group and Gulshan Homes also experienced good uptake for their inventory this quarter which is evident in their property registrations and sale value.

“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, positioning it for a real estate boom. Moreover, there is a right mix of housing inventory catering to all walks of life, that has caught the attention of homebuyers, fostering strong demand and paving the way for future growth opportunities, “said Anupam Rastogi, Co-founder and CBO-NRI, Square Yards.

In terms of projects, the Greater Noida region exhibited the highest number of registrations in the current quarter. Nirala World and Ace Group stood out as dominant players in the project charts. Nirala Estate in Greater Noida recorded 377 units registered, accumulating Rs 206 crores in the fourth quarter, while Ace Divino followed closely with 274 registrations amounting to Rs 194 crores.

Top Projects by Transactions in (Noida + Greater Noida) – Q4’2023
 Project NameNo. of TransactionsRegistered Value in Cr.
1Nirala Estate, Greater Noida377206.9
2Ace Divino, Greater Noida274194.3
3Gulshan Bellina, Greater Noida17176.1
4CRC Sublimis, Greater Noida14068.9
5ABA Coco County, Greater Noida13163.7
6SKA Metro Ville, Greater Noida12465.6
7Arihant Abode, Greater Noida12045.8
8Samridhi Grand Avenue, Greater Noida9352.9
9Jewar Banger, Greater Noida858.8
10Migsun Twinz, Greater Noida8130.0

Data Source: IGR, UP, squareyards.com

With Delhi having already reached a saturation point and homebuyers finding themselves priced out of the Gurugram real estate market, Noida and Greater Noida have emerged as value-oriented real estate destinations. Featuring competitive real estate prices and a variety of housing formats to choose from, the twin cities present a plethora of choices for discerning homebuyers.

CityMicromarket NameTotal Registered Value in Cr.No. of Transactions
NoidaNoida Central157247
Noida Expressway109205
Greater NoidaGreater Noida West808.71335
Noida Extension1835.05031
Yamuna Expressway262.5643

Data Source: IGR, UP, squareyards.com

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.

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.

In all, Noida and Greater Noida’s realty scenario has changed a lot due to its superior infrastructure than the rest of the suburbs of National Capital Region. The cities’ expanding metro network, increasing business and IT hubs and good-quality residential projects renowned for delivering value-oriented returns have collectively positioned this region as a prominent realty hub in North India.

About Square Yards

Square Yards is India’s largest Integrated real estate marketplace, with category leadership presence across multiple touchpoints of consumer home ownership journey. With Urbanisation and rising disposable incomes as the core theme, Square Yards, with 7mn+ monthly traffic and ~USD 3bn+ GTV, is the largest and asset light proxy play to the growing residential demand story of India. One of the few Indian start-ups to taste global success with presence in 100+ cities across 9 countries, Square Yards is at the forefront of tech adoption in the sector, with multiple patents across VR/AI domains.

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