The residential real estate sector within the regions of Noida and Greater Noida has undergone considerable growth during. The second quarter of 2024, as demonstrated by a remarkable 29 percent rise in property registrations in comparison to the preceding year. A cumulative total of 8,212 units were recorded during this timeframe . Signifying a notable increase from the 6,354 units documented in the corresponding quarter of the prior year, as reported by the housing brokerage firm Square Yards. This surge underscores the growing appeal of these regions as prime residential destinations.
This increase in property registrations reflects a broader trend of renewed buyer confidence and heightened interest in the residential real estate sector. Particularly in Noida and Greater Noida. The data from the Inspector General of Registration (IGR) highlights that this uptick in activity is not just in terms of volume but also in the value of transactions. The combined sales value of the registered properties reached an impressive Rs 6,013 crore in the June quarter. Showcasing a robust 59 per cent year-on-year surge. This growth in sales value outpaces the increase in transaction volume. Indicating a rise in the registration of higher-value properties, possibly driven by demand for premium housing options.
The Property Registrations In Noida and Greater Noida up 29%
Breaking down the data further, Noida reported the registration of 3,200 residential units during the April-June 2024 period. This is a substantial rise compared to the 2,408 units registered in the same quarter of the previous year. Reflecting a strong 33 per cent growth. infrastructural developments, including metro expansions, road networks. And the emergence of new commercial hubs, have The continuous advancement of infrastructure .Encompassing the expansion of metro systems, the enhancement of road networks, and the establishment of novel commercial centers, has rendered Noida an increasingly appealing destination for prospective homebuyers..
Greater Noida also recorded significant growth, with a 27 per cent increase in the registration of residential properties. The total number of units registered in Greater Noida during the June quarter reached 5,012. Up from 3,946 units in the corresponding period of 2023. The area persists in deriving advantages from its advantageous geographical positioning. Cost-effectiveness in relation to the adjacent Noida .And the proliferation of social infrastructure. Encompassing educational establishments, medical facilities, and commercial enterprises.
The ongoing momentum in property registrations in Noida. And Greater Noida is a clear indication of the positive sentiment in the real estate market. Both end-users and investors are showing increased interest, driven by the regions’ evolving infrastructure, connectivity .And the promise of future growth.
For more updates and detailed insights into the real estate market, visit New Launch Alert.
