New Delhi: property prices In Greater Noida Westwhich is located close to major employment hubs, has seen a year-on-year growth of 21.6% till September 2023. According to a recent study conducted by Magicbricks, rents have increased by 13.15% year-on-year during this period.
“The region is attracting demand from both domestic and NRI customers, with residents of Delhi, Ghaziabad, Noida and Mumbai accounting for 90% of the domestic demand. NRIs from the US, Canada, United Kingdom and UAE account for 85% of the international demand. in Greater Noida West,” the company said. Demand for properties from NRIs has grown 15% year-on-year.
The demand that is increasing in the area is outstripping the supply, which is higher than other areas in Greater Noida. For example, residential supply in the region increased 8.6% year-on-year.
Magicbricks research has shown that apartment sizes above 1,250 sq ft account for 54.5% of the total demand, while over 50% of home seekers demand properties in the budget of Rs 5,000 to Rs 7,500 per sq ft.
“This year has seen a noticeable inclination towards spacious residences, leading to an increase in demand for properties in peripheral areas like Greater Noida West,” said CEO Sudhir Pai.
“The region is attracting demand from both domestic and NRI customers, with residents of Delhi, Ghaziabad, Noida and Mumbai accounting for 90% of the domestic demand. NRIs from the US, Canada, United Kingdom and UAE account for 85% of the international demand. in Greater Noida West,” the company said. Demand for properties from NRIs has grown 15% year-on-year.
The demand that is increasing in the area is outstripping the supply, which is higher than other areas in Greater Noida. For example, residential supply in the region increased 8.6% year-on-year.
Magicbricks research has shown that apartment sizes above 1,250 sq ft account for 54.5% of the total demand, while over 50% of home seekers demand properties in the budget of Rs 5,000 to Rs 7,500 per sq ft.
“This year has seen a noticeable inclination towards spacious residences, leading to an increase in demand for properties in peripheral areas like Greater Noida West,” said CEO Sudhir Pai.
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