Introduction
The story of Noida’s residential real estate in 2023 is an interesting tale of resilience and shifting priorities. Surprising market dynamics. Its transformative journey to a commercial and corporate hotspot seems to have played a key role in reshaping the housing preferences of its residents. With the increasing emphasis, home buyers may be influenced to seek larger and more comfortable living spaces.
Table of Contents
- Roller Coaster Ride in Demand and Supply
- The Demand Hotspots in Noida Real Estate
- Noida Localities Values
- Bigger Homes Lead to Sales
Noida 2023 did see a remarkable change in residential real estate dynamics. The bustling satellite city located in India’s National Capital Region (NCR) has seen remarkable progress in recent years. Its strategic location, contemporary infrastructure, and thriving urban environment. Popular Noida has seen impressive growth. It has established itself as a leading real estate hub in the region.
Roller Coaster Ride in Demand and Supply
The Noida residential market witnessed a significant drop in new supply in the last quarter of 2023. 2022 recorded a 96% year-on-year (YoY) decline compared to the same period. However, the total new supply of 3,889 is here.
Year-on-year units showed 245% year-on-year growth in units launched. This suggests that the figure for the fourth quarter could be considered an aberration, illustrating the rapid transformation of the market.
At the same time, Noida’s real estate market has shown resilience in terms of sales. Total annual sales in 2023 are 4,252 units, and 3,559 units in 2022.
This indicates renewed confidence among homebuyers and a stable market environment. It also underlines the adaptability and expansion of the Noida housing market in response to the region’s diverse population.
The Demand Hotspots in Noida Real Estate
Micro-markets in Sectors 146, 150, and 94. Emerging as the most preferred neighborhood on the radar of home buyers in Noida in 2023. Achieved maximum sales traction. These pockets are strategically located and offer an array of essential amenities. These have become focal points of interest for buyers, reflecting the evolving preferences of the city’s homebuyers.
There is excellent connectivity and a strong physical and social infrastructure. making Sector 146 a favorable choice for home buyers. But Sector 150 attracts their attention with its vast green spaces and recreational facilities.
On the other hand, Sector 94 has emerged as a hotspot due to its proximity to commercial and employment hubs. It has become an attractive destination for those seeking a live-work-play lifestyle.
Noida Localities Values
Noida, a bustling city in the National Capital Region (NCR), offers several attractive localities for home buyers. Let’s explore some of the top areas where people are actively looking to buy properties with capital values.
| Localities | Capital Values |
| Sector 94 | INR 15,500-16,500 |
| Sector 146 | INR 16,500-17,500 |
| Sector 150 | INR 9,000-10,000 |
- Sector 150: Located at the intersection of the Yamuna Expressway and the Noida-Greater Noida Expressway, Sector 150 is witnessing significant real estate development. Big real estate brands have projects here. Some projects are ready to move. Others are under construction. Although public transport options are limited, their connectivity is good.
- Sector 137: This is also a good option for affordable housing. This sector is known for its commercial establishments and shopping centers.
- Sector 94: Sector 94 is a very good area. It is located on the Delhi-Noida border. You have connectivity through the metro. Societies like Supertech Supernova are located in this area. Because investing here can reap profits.
Bigger Homes Lead to Sales
A deeper dive into the preferences reveals that 3 BHK homes will dominate the sales landscape in 2023 out of the total units sold.
This trend towards larger living spaces reflects a shift in the needs of homebuyers, influenced by changing lifestyle needs and remote working trends.
Conclusion
Going forward, the region’s strategic location and ambitious infrastructure projects will continue to attract investors and home buyers. As the Noida real estate landscape evolves rapidly, stakeholders in the industry are closely monitoring the trends to understand the implications for future developments. For more information, visit our Openplot.com.
Also read: Property prices 18.8% increased for 2023 year (openplot.com)