Noida and Greater Noida have emerged as significant players in the Delhi NCR residential real estate market, showing impressive growth and activity. According to recent data, these cities have demonstrated notable double-digit gains in residential transactions during the June quarter of 2024. The latest report highlights that Noida and Greater Noida saw a substantial increase in residential transactions, with a total of 8,212 deals registered with the Inspector General of Registration (IGR) during the June quarter. This marks a significant 29% increase compared to the same period last year. In tandem with this rise in transaction volume, the combined sales value of these properties surged to Rs 6,013 crore, representing an extraordinary 59% year-on-year growth.
This robust performance has solidified Noida and Greater Noida’s positions as leading markets within Uttar Pradesh, positioning them ahead of other regional hubs such as Ghaziabad and Lucknow. Their proximity to Delhi and the improving infrastructure have been key drivers behind this surge. The growth in residential real estate activity in these cities can be largely attributed to several ongoing infrastructure projects. The development of the Jewar International Airport, a major boost for the region, is expected to further enhance connectivity and drive future real estate demand. Additionally, improvements in metro connectivity are making commuting more convenient and increasing the attractiveness of these areas for homebuyers.
Greater Noida has also seen a significant investment of Rs 60 crore aimed at enhancing its infrastructure. This investment is focused on upgrading road networks, water supply, sewage systems, and street lighting, all of which contribute to improved livability and appeal. The substantial increase in both transaction volume and sales value underscores the growing confidence in Noida and Greater Noida’s real estate markets. As infrastructure developments continue to unfold, these cities are likely to attract even more attention from investors and homebuyers, further consolidating their roles as key real estate hotspots in the region.
