Noida and Ghaziabad Brace up the Increased Demand for Luxury Homes, New Launches Increased Multifold in H1 2024

Delhi-NCR’s luxury housing market continues to raise the bar as the region witnesses a 45% share of sales in the luxury segment in H1 2024, surpassing the share back in 2019. Meanwhile, Noida and Greater Noida saw 42% of luxury home sales. Noida’s micro-markets have majorly contributed to the impressive growth graph of NCR's luxury market.

Moreover, regarding rental yields, Noida’s micro-markets, like Noida Sector 150, saw a 12% Y-O-Y increase in monthly rentals of luxury properties, followed by Noida-Greater Noida expressway at 11%. 

Strong luxury sales activity has further strengthened the real estate market in the town, which has welcomed new projects catering to this segment. The growth is driven by a rising demand for luxury living spaces that offer premium amenities. The region’s strategic locations catalyze this demand with its proximity to Delhi and excellent connectivity via various expressways.

Developers have actively responded to these demands for luxury homes, bringing premium projects across the city. Though Noida is the talk of the town these days, Ghaziabad quickly caught up with luxury homebuyers.

Traditionally known for its affordable segment, the city diversified its offerings by allowing premium and high-end properties. In H1, Ghaziabad’s luxury segment accounted for 715+ units, indicating a solid presence of luxury residences. Apart from connectivity with Delhi, Noida, and other parts of NCR, infrastructure growth is what makes the city attractive. Its new roads and metro expansions have further attracted high-value homebuyers.

Hence, developers are focusing on the increased demand for luxury homes in Noida and Ghaziabad with the launching of premium projects. Greater Noida West and key locations along NH 24 in Ghaziabad are highly potential areas for luxury living investment. In Noida and Ghaziabad, the realty market is constantly evolving owing to the projects of some of the renowned and credible developers. Amongst some of the key developers, Prateek Group stands out through its luxury living options and has earned a paramount reputation after every other project-defined luxury living.

With a continued focus on infrastructure development and the rising aspirations of homebuyers, the Noida and Ghaziabad realty market is likely to maintain its growth trajectory in the second half of 2024. 

The year towards the end is likely to witness new launches catering to the increased demand for luxury homes. With the focus on constantly raising the bar of quality living, Prateek Group is soon likely to launch a premium luxury project in Ghaziabad offering its residents a flavor of quality living amidst high-end amenities

Noid and Ghaziabad are poised to emerge as leading luxury living hubs backed by the fuelled demand and anticipated surge in new launches in H2 2024.