When it comes to real estate in North India, Noida is the city that immediately pops in our mind. Noida was initially known for the affordable nature of its residential real estate, gradually it moved into the luxury housing market and now the city is walking hand-in-hand with Gurgaon in the field of commercial real estate also. Like any other property market, Noida has also seen several ups and downs in its property price trends. In this post, we will talk about how property price trends have changed in Noida over the last one year.
After a pretty stable price graph till July 2014, the circle rates and property prices in the city started to move north in August. The average price jumped by more than 8% in September and reached 4,289 per sq ft. However, it again showed a downward trend till November. Picking up an upward pace again, the property prices have not gone down ever since. As per the Price Trend Graphs of Investors Clinic, the current price in the city’s real estate market is reckoned at Rs 4,291 per sq ft.
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The localities in Noida that maintained a stable price trend over the last one year include Sector 137, Sector 78, Noida Extension and Sector 76. Yamuna Expressway remained the most affordable locality with prices, ranging between Rs 2,801 per sq ft to 3,175 per sq ft, which was quite lesser as compared to the average price in general. Still in the development stage, Yamuna Expressway is expected to remain affordable for some more time. Its proximity to the diplomatic enclave and excellent connectivity features makes it one of the most sought after localities of Noida.
As opposed to Yamuna Expressway that maintained quite a steady trend of prices, Noida-Greater Noida Expressway witnessed drastic ups and downs. It stood as an affordable option in the mid of 2014 but by the third quarter prices shot up to exceed the average figure of Noida. Falling down since then, the average value for June ‘15 was recorded at Rs 4,522 per sq ft. Sector 134, 121 and 128 also went through a whirlwind.
Projects by reputed developers like Ajnara, Ace Group, Lotus Greens, Amrapali, Jaypee Greens, Antriksh Group, Gulshan Homes, Paras Group, Wave Infratech, ABA Corp and Supertech have been trending on the skyline of Noida. Now, it is a good time to invest in the city to enjoy fruitful returns in the future