The Rise of Premium Real Estate in Noida and Greater Noida
Noida and Greater Noida, once known for affordable properties, have transformed into hotspots for premium real estate in the last five years. With new launches exceeding Rs 1 crore, the market has seen a significant shift towards luxury living.
A report by JLL revealed that 14,822 flats worth Rs 24,944 crore were sold in Noida last year, showing a surge in the market. Infrastructure development, completion of stalled projects, and policy changes have fueled this growth.
Key projects like the international airport, dedicated industrial sectors, and improved connectivity have attracted developers like Experion, Godrej, and M3M to offer ultra-luxurious apartments.
Areas like sectors 73, 74, 75, and the expressway sectors have witnessed significant price appreciation. Completion of stalled projects and government initiatives have further boosted buyer sentiment.
The acceptance of the Amitabh Kant Committee’s recommendations and the focus on business development have enhanced the region’s perception, attracting Fortune 500 companies and creating job opportunities.
In conclusion, Noida and Greater Noida’s premium real estate market is on the rise, offering a blend of luxury living, improved infrastructure, and promising investment opportunities.
Published on 16 June 2024, 13:45 IST