Greater Noida West real estate values rise 21.6% year over year

By Bricksnwall | 2023-11-29

According to the research, buyers preferred apartments larger than 1,250 square feet, accounting for 54.5 percent of the overall demand, and over half of them looked for properties between Rs 5,000 and Rs 7,500 per square foot.

Both domestic and NRI consumers are drawn to the area; 90% of domestic demand is coming from people in Delhi, Ghaziabad, Noida, and Mumbai.

According to a Magicbricks analysis, Greater Noida West has seen a rise in rental income and property prices of 21.6 percent year over year (YoY), making it a popular destination for reasonably priced residential investments.

According to the research, purchasers preferred apartments larger than 1,250 square feet, accounting for 54.5 percent of the overall demand, and over half of them looked for units priced between Rs 5,000 and Rs 7,500 per square foot.

According to the survey, Greater Noida West has experienced the most YoY growth in supply when compared to other Greater Noida neighborhoods, which has boosted demand in the area as well.

Both domestic and NRI consumers are drawn to the area; 90% of domestic demand is coming from people living in Delhi, Ghaziabad, Noida, and Mumbai. The survey noted that in Greater Noida West, NRIs from the US, Canada, the UK, and the UAE account for 85% of the foreign demand.

"This year has witnessed a noticeable inclination towards spacious residences, fuelling a surge in demand for properties in peripheral regions like Greater Noida West," Magicbricks CEO Sudhir Pai said. With affordable housing options, quick infrastructural improvements, and easy access to job centres, Greater Noida West has become one of the NCR's most sought-after locations.