Monthly Watch: Home Sales Decline 4% In Noida

Data by PropTiger DataLabs show there is no recovery in sight as far as Noida real estate is concerned. While home sales and new launches have declined on a monthly as well as an annual basis, property prices have remained range-bound.

Noida, the information technology hub of the national capital region, was among the cities where developers are seen exercising caution. As a result of that, there has been a 340-per-cent monthly decline in new launches in December last year. On an annual basis, too, new launches fell 98 per cent, shows the monthly report.

On home sales' front also, fall was the order of the day. While there has been a four per cent monthly decline in home sales, the annual fall stands at 85 per cent.

Among the developers who launched a new project in Noida is CBS Developers. At its new project at Sector 90, units will be offered at an average price of Rs 4,950 per square foot (sq ft) .

Localities that contributed the highest to monthly sales include Sector 1-Noida Extension, Techzone 4, Sector 16C-Noida Extension, Sector 22D Yamuna Expressway and Sector 150. Properties across these localities are priced in the range of Rs 3,500 per sq ft and Rs 8,300 per sq ft.