Once regarded for its affordability, Noida and Greater Noida have rapidly transformed into sought-after hubs for premium real estate.
According to market experts and recent data, property prices in both cities have more than doubled in the past five years, highlighting the area’s shift toward high-end housing and infrastructure growth, as published by the Money Control.
In 2024, the weighted average prices for new housing projects surged by 152 percent in Noida and 121 percent in Greater Noida compared to pre-COVID levels in 2019-2020. Noida’s secondary housing market saw similarly high appreciation, with prices rising by approximately 81 percent over the last five years.
This shift from affordable to luxury real estate is attributed to upgraded infrastructure, improved connectivity, and economic growth in the Noida region. Experts say the pandemic sparked heightened demand for larger spaces with better amenities, attracting premium developers like Prestige Group, Godrej Properties, and Sobha Limited, who aim to meet the needs of post-pandemic buyers.
Data from PropEquity shows significant price increases across housing types. Newly launched 2BHK units in Noida saw prices soar by nearly 180 percent, from ₹5,712 per square foot in 2019 to ₹16,000 per square foot in 2024. Similarly, 3BHK units rose by 146 percent, with average prices now at ₹12,828 per square foot in Noida.
In Greater Noida, the weighted average prices for new projects jumped from ₹3,900 per square foot in 2019 to ₹8,601 per square foot in 2024 — a 120 percent increase. The average price for newly launched 2BHK units surged 122 percent to ₹7,849 per square foot, while 3BHK units appreciated by 134 percent to ₹8,595 per square foot.
Noida’s secondary market has also shown significant growth, particularly in key areas like Central Noida and the Noida-Greater Noida Expressway. Central Noida’s 2BHK units now average ₹8,150 per square foot, up from ₹4,500 in 2019. Meanwhile, the 3BHK units in this area increased by 77 percent to ₹11,500 per square foot.
The Noida-Greater Noida Expressway also witnessed substantial growth: prices for 2BHK units grew by 64 percent, reaching ₹7,900 per square foot in 2024, while 3BHK prices rose to ₹12,000 per square foot, a 67 percent increase. Greater Noida West saw prices for 2BHK units rise to ₹5,500 per square foot, up from ₹3,500, while 3BHK units reached ₹8,800 per square foot, marking a 52 percent increase.
In addition to price growth, unsold inventory has reduced significantly in both Noida and Greater Noida. Noida’s unsold inventory dropped from 11,379 units in 2019 to 4,745 units in 2024, while Greater Noida saw a decline from 30,924 units in 2019 to 9,953 units in 2024.
The commercial sector in Noida has experienced robust growth as well, with increasing demand for office spaces fueled by major corporations like Infosys, Microsoft, and Samsung establishing offices along the Noida-Greater Noida Expressway and in Sector 62. This has led to a 40 percent increase in the commercial property market over the last five years, according to Vishal Raheja of InvestoXpert.
Real estate experts attribute the rapid growth in Noida and Greater Noida to strategic infrastructure developments, such as expanded metro lines and expressways, which have enhanced connectivity. Sunil Sisodia of Geetanjali Homestate noted that the pandemic spurred Noida’s transition from an affordable housing market to a prime destination for upper-middle-class buyers, particularly in areas like Central Noida and the Noida-Greater Noida Expressway. High-profile projects like the upcoming Jewar Airport and Film City along the Yamuna Expressway are expected to further elevate the region’s appeal.
“Noida and Greater Noida have evolved from satellite towns into dynamic urban centers that attract both end-users and investors,” Sisodia said, emphasizing the region’s shift towards premium offerings.
Looking ahead, the Noida region is expected to witness continued growth due to large-scale projects like the Delhi-Mumbai Industrial Corridor (DMIC) and the Film City project. The proposed extension of the Noida-Greater Noida Metro Aqua Line to Jewar Airport is anticipated to bolster the region’s connectivity further.
According to Raheja, with over 100 residential and commercial projects in development, Noida and Greater Noida are positioned for substantial future growth, with an estimated 20 percent annual increase in project launches anticipated in the coming years. These factors are set to establish Noida as a major real estate powerhouse in North India.