Property prices in Greater Noida surge by 98% in five years
NCR's Greater
Noida
saw highest price appreciation among all NCR cities in the last five years with per sq ft rising by 98%.
Over the last decade, NCR has seen a massive resurgence in demand and supply across real estate segments, and key hotspots have witnessed remarkable housing price appreciation.
'Average prices in Greater Noida rose from Rs 3340 per sq.ft. in Q1 2020 to Rs 6600/sq.ft. by Q1 2025-end. Noida recorded the second-best appreciation of 92% in the same period – from Rs 4795 sq.ft in Q1 2020 to INR 9200/sq.ft by Q1 2025,' said Santhosh Kumar, Vice Chairman – ANAROCK Group.
Gurugram witnessed an 84% jump - from Rs 6,150/sq.ft. to Rs 11,300 per sq. ft. in this period. Overall, the entire NCR saw an 81% jump in average residential prices over five years.
NCR market, which had previously seen the highest unsold stock in the country, is now seeing a remarkable decline. Despite the significant price risesacross NCR in the last five years, unsold inventory in the region has dropped by 51% in the last five years – from approximately 1,73,117 units by Q1 2020-end to approximately 84,500 units by Q1 2025-end.
City-wise, Noida recorded the highest 72% decline in its overall unsold stock while Ghaziabad saw its unsold stock decline by 58% in this period.
'Strong sales velocity over the years, along with significant new launches, reduced the inventory overhang to just 17 months by the end of Q1 2025,' said Kumar.
The NCR residential market saw a new supply addition of 53,000 units in 2024, almost 44% higher than the launches in 2023. Another notable change is in budget categories - in previous years, affordable housing (units priced
'The NCR realty affected a massive turnaround post-pandemic. As the people realised the value of larger homes and the parallel thrust on infrastructure along with the construction of the Jewar Airport and inauguration of the Gurugram section of the Dwarka Expressway, the housing segment did not just witness a significant decline in unsold inventory but the demand for premium and luxury residences also soared. We expect this growth trajectory to continuously rise,' said Amit Modi, Director of County Group.
In fact, the report highlights a significant increase in new launches in the ultra-luxury segment (units priced over Rs 2.5 crore), which contributed nearly 59% in 2024 as compared to 24% in 2023 - and only 4% in 2020. The supply share of affordable housing continued to decline, accounting for only 11% of NCR's total launches in 2024 as compared to 41% in 2022, and 47% in 2019.
The report also identifies key growth corridors in NCR such as Sohna, New Gurgaon, Dwarka Expressway and Greater Noida West.
"Infrastructure expansion, increased demand for quality living and buoyed investors' confidence is contributing to the impressive growth of NCR's housing market. Micro markets like sec-150 and Siddharth Vihar in Noida and Ghaziabad respectively stand out as promising micro-markets for high-end residential investment. Further, metro network expansions and expressways have significantly boosted real estate demand in these corridors,' said Prateek Tiwari, MD, Prateek Group.
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