Is Noida poised to overtake Delhi and Gurugram as the top real estate destination? – Money News

Noida’s real estate market is flourishing, with developers increasingly launching premium projects worth over Rs 5 crore. This shift is fueled by robust infrastructure, improved connectivity, and the growing desire for luxury living.

As per industry reports, the average property prices in Noida experienced a quarter-on-quarter increase of 7% in the early part of 2024. The city’s prospective growth is supported by ongoing infrastructure developments, including the forthcoming Jewar Airport and improved metro connectivity.

Developers such as Gulshan, Prateek, and Gaurs have played pivotal roles in elevating Noida’s appeal, focusing on timely delivery and quality construction. These groups have also contributed to improving the city’s liveability index by creating lifestyle-centric projects that cater to luxury seekers and investors alike.

Why Noida?

Noida offers a more affordable alternative to Delhi and Gurgaon without compromising on infrastructure or living standards. Factors like increased economic activity, the presence of leading multinational companies, and the expansion of IT hubs along the Noida-Greater Noida Expressway have also contributed to its rise. Retail and commercial spaces are following suit, creating an ecosystem of integrated developments that further boosts demand for residential projects.

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“At Eldeco Group, we believe Noida is at the cusp of a major transformation, driven by its infrastructural advancements. Jewar Airport, the upcoming RRTS, and expressways like Noida-Greater Noida and Yamuna Expressway are not just connectivity enhancers, but catalysts for widespread development. These projects are creating an ecosystem where residential, commercial, and industrial sectors can thrive. The rise in demand for luxury housing and integrated townships is a direct result of improved urban mobility and accessibility. Noida’s ability to offer world-class infrastructure makes it a natural choice for both investors and homebuyers. We foresee Noida evolving into a global hub, with developers betting big on this vibrant future,” said Manish Jaiswal, Group COO, Eldeco Group.

Industry insiders say Noida is poised to overtake Delhi and Gurgaon as the preferred choice for homebuyers and investors. The Jewar Airport is a game-changer, promising to transform the region into an international business hub. Furthermore, metro extensions and expressway developments are improving intra-city and inter-city connectivity, making it easier for residents to commute.

Aman Trehan, Executive Director, Trehan Iris, said, “We envision a vibrant future for Noida, driven by its rapid growth as a business and commercial hub. Moreover, the upcoming Jewar airport is poised to be a significant catalyst for the region and positively impact local real estate. Due to the infrastructural advancements, we anticipate a corresponding surge in demand for real estate and allied industries. However, the focus is shifting more toward modern office spaces, mixed-use developments, and commercial complexes that promote collaboration and enhance urban living. In response to this demand, we are coming up with a commercial project in Noida, designed to meet the needs of businesses and create dynamic work environments. As Noida attracts more investment and talent, the demand for high-quality real estate is rising, establishing it as a key player in the national economy.”

Infrastructure Impact

Noida’s upward trajectory is closely linked to ongoing infrastructural developments. Metro rail extensions, expressways, and the upcoming international airport have been major growth catalysts. These projects not only make Noida more accessible but also attract multinational companies, driving economic growth and boosting demand for housing.

Sanjay Kumar Sinha, Founder and Managing Director of Chaitanya Projects Consultancy, says, “The infrastructure development in the Noida-Greater Noida Expressway — that has revolutionized transportation in the region through its well-planned layout and six-lane configuration—will give a strong impetus to the real estate landscape and commercial hubs bolstered by strategic location, enhance connectivity. This Expressway links sub-cities of Noida and will connect to the upcoming Noida International Airport at Jewar through the Yamuna Expressway which underscores India’s advancements in infrastructure. The Noida Expressway has significantly enhanced the region’s demand—with new-age amenities, malls, offices and social infrastructure—which will add to the liveability quotient along these expressways. By seamlessly linking Noida and other areas of Delhi-NCR, previously distant locales are now easily accessible, promoting easy commuting and a rise in habitation.’’

As Noida progresses, it appears more probable that the city will outpace Delhi and Gurgaon as the premier real estate hub, providing a combination of affordability, connectivity, and luxury. The ongoing development in the city reflects the collaborative vision of developers and urban planners striving to establish a cohesive urban environment.

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