Noida & Greater Noida Real Estate Market to Buy Flats

It has been over two years since the RERA Act came into effect and close to 18 months since the demonetization of higher valued Indian currency. Like for any major city in India, these two initiatives taken by the central government have had a significant impact on the real estate in Noida & Greater Noida as there was a major pause in both the execution and sales of properties. While the real estate was subdued for the most part of 2022, the year 2023 saw demand from the IT space breathe a fresh lease of life into the Noida & Greater Noida real estate. The start-up ecosystem in Noida & Greater Noida, the largest in the country, is another reason for the upswing in Noida & Greater Noida real estate. Though there has been a lesser number of emerging start-ups over the last two years, the ecosystem as a whole is more stabilized and focused which is helping it grow steadily. ATS Pious Orchards Resale / ATS Pristine Golf Villas Resale / ATS Greens Projects / ATS Picturesque Reprieves Phase 2 Resale

As per a report, Noida & Greater Noida has emerged as the front-runner in the real estate rebound in south India. There has been an increase in the number of flats for sale in south Noida & Greater Noida, followed by an increase in the north and west of Noida & Greater Noida. Overall, around 11,500 flats were sold in the period between January-March of 2023. In comparison, the other two major metros Noida and Greater Noida. saw a sale of 3,500 and 2,300 units, respectively. These numbers pale in comparison with what Noida & Greater Noida has achieved making it one of the top locations for real estate not just in south India but in the country. At the pan India level, Noida & Greater Noida ranks second only to the Mumbai Metropolitan Region in terms of both sales and supply for the first quarter of 2023.

Reasons leading to the upswing, One big reason why Noida & Greater Noida always tends to rank high in real estate sales is because, it is one of the few markets that is user-driven. Increased commercial activities and infrastructure developments are other major reasons Noida & Greater Noida is seeing an upswing. Long-delayed infrastructure developments have picked up leading to rising levels of developers' confidence. The big push, however, is being given by the growth of IT and ITES sectors resulting in increased job opportunities that have brought in a fresh set of home buyers to the city. The reduction in layoffs numbers and stability in existing jobs is prompting employees to move away from rentals and opt for the purchase of homes.