Residential real estate prices continue to soar in Noida and Greater Noida micro-markets as property registrations in these twin cities have shot up by 6 percent year on year (YoY) in July-September of calendar year 2024, and registered sales value grew by 34 percent during the same period, data from the Inspector General of Registration (IGR) and Square Yards showed.
The residential market in Noida has witnessed a substantial surge, with the average home sales value crossing the Rs 1-crore mark—a 41 percent YoY growth.
According to the data, a total of 8,128 properties were registered with IGR in Noida and Greater Noida between July and September 2024, representing a 6 percent YoY increase. Greater Noida led the rally, accounting for 62 percent (5,001 properties) of these transactions in Q3 of 2024. The data includes both primary and secondary residential property transactions.
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The combined registered home sales value for Noida and Greater Noida rose to Rs 6,328 crore in the July-September 2024 quarter, a rise of 34 percent YoY. Home sales value for Noida and Greater Noida in 2023 during the same period was Rs 4,718 crore, Square Yard data showed.
Noida displayed particularly strong performance, achieving a 62 percent YoY increase in home sales value, compared to a 13 percent increase in Greater Noida. Residential properties, which include apartments and independent houses, worth Rs 3,291 crore, were registered in Noida in the July-September 2024 quarter, compared to Rs 2,035 crore during same period a year ago.
Similarly, housing units worth Rs 3,037 crore were registered with IGR in Greater Noida in the July-September 2024 quarter, compared to Rs 2,683 crore in Q3 2023.
This growth in sales value, relative to transaction volume, has driven a significant increase in average home values. Noida’s average home sales value increased to Rs 1.05 crore from Rs 75 lakh during the same period a year ago, registering a 41 percent YoY growth. Similarly, Greater Noida’s average home sales value reached Rs 61 lakh in the September 2024 quarter, from Rs 54 lakh in Q3 2023, a jump of 13 percent.
Ravi Nirwal, sales director and principal partner, Square Yards, said that Noida and Greater Noida residential markets are seeing a sustained growth, bolstered by infrastructure advancements like the Jewar International Airport, which continue to strengthen both the commercial and residential sectors in these cities.
"In the September 2024 quarter, both cities posted notable double-digit growth in home sales value and registered transactions—a 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 average property value crossing the Rs 1-crore mark in Noida,” he said.
Future outlook
Recent initiatives, such as allowing sales agreements to be signed with 10 percent 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, Nirwal said.
The outlook for Noida and Greater Noida remains positive, signalling sustained residential growth and investment potential in the region.
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