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Demand and Supply Highest In Noida Extension & Sectors 74 & 79

By Rishabh Chamoli | 2023-03-06

Revival in housing supply and surge in property rates punctuated the residential market of Noida Greater Noida. With improvement in new launch activity, residential supply (listings) in Noida Greater Noida observed a growth of 6.7% quarter on quarter in Q4 2022. However, residential demand (searches) witnessed a quarter on quarter decline of 2.5%, which indicates restrained buyer sentiments.

Noida Extension and Sectors 74 & 79 in Noida continue to dominate residential activity in Noida Greater Noida, topping the charts in terms of consumer searches and active listings. Better connectivity to offices, adequate availability of social & retail infrastructure, and presence of affordable properties are amongst the key factors propelling growth of residential real estate in these micro markets.

Noidas sectors 150, 128, 137, 62, 75, 78 and Noida Extension witnessed the maximum concentration of demand and supply.

Interestingly Noida Greater Noida also observed increased traction for premium properties priced above INR 7,500 psf, which rose to 16% share in Q4 2022 from 11% in Q3 2022.

In Q4 2022, 3 BHK units commanded a 53% share of residential demand, which increased from 47% in Q3 2022. The corresponding supply stood at 45%. Above 3 BHK units accounted for 15% share of the demand and the combined share of 3 BHK and > 3 BHK homes accounted for nearly 68%.