Noida’s transformation into a premium real estate market highlights its growing stature in the Delhi-NCR region, positioning it as a rival to Gurugram in the luxury housing sector
Real estate developers in Noida are increasingly launching apartments priced at ₹5 crore and above, signaling the city’s emergence as a premium residential destination. Noida, once seen as Gurugram’s less attractive counterpart, is now catching up, with prices of high-end housing projects nearing parity with new launches in Gurugram, according to a report by Hindustan Times.
The city’s luxury real estate market is attracting a diverse range of buyers, including those transitioning from standalone homes to modern condos, investors seeking long-term gains, non-resident Indians (NRIs), and successful entrepreneurs. This shift reflects a broader trend of Noida shedding its old image, driven by an improving law and order situation and significant infrastructure development initiatives.
-
Prominent real estate developers such as Experion, M3M, Godrej, County Group, Gaurs Group, and Max are leading the charge, offering ultra-luxurious apartments packed with modern amenities
-
With Noida’s property prices on the rise, speculators and investors are also eyeing potential profits, further fueling demand in this segment
The region, particularly Gautam Buddh Nagar, has seen an influx of IT and consulting firms, not just limited to back-office operations. The government’s focus on business and infrastructure development has enhanced Noida’s appeal as a commercial and residential hub. Key projects like the upcoming Noida International Airport and extensive metro and road networks are set to further boost connectivity, making the city more attractive to investors and buyers alike.
The rising prices of newly launched projects can be attributed to escalating land costs. Since 2022, developers have faced stricter payment terms, with the requirement to complete full land payments within 90 days of allotment, compared to earlier staggered payment schedules. This has made land both scarcer and more expensive, pushing developers to focus on ultra-luxury housing to ensure economic viability.
***********************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken a small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, running a news website requires finances. While every contribution, big or small, will make a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com