Noida, Greater Noida Residential Market Soars; Sales Up 34%, Transaction Volume Up 6% in July-September 2024: Square Yards Report

Noida, November 18, 2024: Noida and Greater Noida have reinforced their positions as key players in Delhi NCR’s residential real estate landscape, following Gurugram’s lead. According to Square Yards, a total of 8,128 transactions were registered with IGR in Noida and Greater Noida in September quarter of 2024, representing a 6% year-on-year (YoY) increase. Greater Noida lead the rally, accounting for 62% of these transactions between July to September 2024 period.

The combined registered home sales value for Noida and Greater Noida rose to Rs. 6,328 crore, marking a substantial 34% YoY growth. Noida displayed particularly strong performance, achieving a 62% YoY increase in home sales value, compared to a 13% increase in Greater Noida. This higher growth in sales value, relative to transaction volume, has driven a notable rise in average home values, with Noida’s average home sales value increasing to Rs. 1.05 crore and Greater Noida reaching Rs. 61 lakh in September 2024 quarter.

*Includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

“Noida and Greater Noida’s residential market is experiencing sustained growth, bolstered by infrastructure advancements like the Jewar International Airport, which continue to strengthen both the commercial and residential sectors in these cities,” remarked Ravi Nirwal, Sales Director and Principal Partner, Square Yards. “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 property value crossing the Rs. 1 crore mark in Noida. Recent initiatives, such as allowing sales agreements to commence with 10% 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.”

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Market Leaders and Key Projects

In the July-September quarter of 2024, ABA County Group and ATS emerged as leading developers in Noida and Greater Noida’s residential real estate sector, demonstrating significant market activity. ABA County Group achieved the highest sales value during this period, with transactions amounting to an impressive Rs. 552 crore. ATS followed, recording Rs. 292 crore in sales, while Jaypee Greens secured the third position with Rs. 269 crore.

In terms of transaction volume, ATS led the market, registering 419 units, followed by ABA County Group with 378 units and Amrapali Group with 344 units. These figures underscore the competitive landscape and active buyer interest in developments by these leading firms in the region.

*Includes primary residential registered transactions only.                                                        

 Source: IGR, SquareYards.com         

Analysis of project-level data for the September 2024 quarter reveals that Noida accounted for six of the top ten residential projects by sales value. Leading this segment, ABA Ivy County in Noida recorded the highest sales value, reaching Rs. 322 crore. While Noida projects dominated in terms of overall sales value, Greater Noida saw the highest transaction volumes, with eight of the top ten projects by transaction count located in the area.

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ATS Nobility in Greater Noida led with 327 registered transactions, followed closely by SKA Divya Towers, which saw 271 units transacted. This trend highlights a regional split, with Noida attracting higher-value transactions while Greater Noida captured greater unit volume, reflecting a varied demand dynamic across the two markets.

*Includes primary residential registered transactions only.                                                        

 Source: IGR, SquareYards.com        

Area & Budget-wise Trends 

The residential market in Noida and Greater Noida experienced a notable shift in property preferences in July-Septemebr 2024, with increased demand for larger and higher-priced apartments. While units between 1,000-1,500 sq. ft. accounted for 40% of total transaction volume, interest in larger apartments measuring 1,500-3,000 sq. ft. grew significantly, increasing from 21% to 28% of total transactions compared to the same period last year.

This trend aligns with the growing preference for premium properties, with transactions in the Rs. 1 crore and above bracket rising to 20%, up from 11% in the previous year. Apartments priced between Rs. 1-2 crore saw their share nearly double, to 14% from 8% during the same period.

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*Includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

Micro Market Performance 

In the July-September 2024 quarter, Noida Extension and Noida Central emerged as the top-performing micro-markets in Noida and Greater Noida’s residential sector, collectively contributing 57% of total home sales value. Noida Extension recorded the highest number of registered transactions, with 2,985 units sold, followed by Noida Central, which accounted for 1,912 transactions during the quarter. In terms of average sales value, Noida Expressway led with an average property value of Rs. 1.23 crore, closely followed by Noida Central at Rs. 94 lakh, reflecting a sustained demand for high-end apartments in these areas. 

*Includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

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Noida and Greater Noida’s real estate market continues to expand, driven by rising demand across both mid-range and premium housing segments. Enhanced metro connectivity and proximity to the upcoming Jewar Airport have played a significant role in fueling this growth. The cities are witnessing a steady influx of working professionals as more companies establish commercial spaces, with additional initiatives like the proposed Noida Film City set to create further employment opportunities. Together, these development initiatives are bolstering end-user and investor interest alike. Developers are responding to this momentum, strategically positioning new projects in high-demand areas, and particularly around the Yamuna Expressway, where new land parcels are becoming available. With these factors in play, the outlook for Noida and Greater Noida remains positive, signalling sustained residential growth and investment potential in the region.

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