Monthly Watch: Home Sales Up 14% In Noida

After registering a 36 per cent month-on-month growth in January, home sales numbers in Noida have continued the upward movement in February, too. According to a PropTiger DataLabs report, home sales in February grew 14 per cent over January. However, the number of new launches declined during the same period, with a 62 per cent fall. In January, residential launched in Noida touched their highest level in the past eight months, according to PropTiger DataLabs figures. Property prices on the other hand declined two per cent in February on a monthly basis.

The report also points out that the affordable segment contributed over 60 per cent to the new launch as well as sales figures in February.

The performers

Localities that contributed the highest to the monthly home sales include Sector 1-Noida Extension, Sector 22D-Yamuna Expressway, Sector 150, Techzone 4 and Sector 16C-Noida Extension, in that order. According to the report, nearly 35 per cent of the total sales were seen in Sector 1-Noida Extension, Sector 22D-Yamuna Expressway and Sector 150. These localities offer investment options across segments. While property rates vary from Rs 6,900 per sq ft to Rs 21,700 per sq ft at Sector 1-Noida Extension, you can buy property for Rs 3,500 per sq ft at Sector 16C-Noida Extension and Sector 22D-Yamuna Expressway. According to PropTiger DataLabs, a buyer has to pay an average price of Rs 5,800 per sq ft to buy property at Techzone 4 and Rs 5,600-6,200 per sq ft at Sector 150.

 Coming soon

Real estate developers who launched new projects in Noida in February include Invest Group, Godrej Properties, Lotus Greens and Sikka Group. Sector major Godrej has launched its new project The Suites with 250 units at PI. Units at the project will be priced at Rs 5,544 per sq ft. Kanak Greens is the new project by Sikka Group at Sector 10-Noida Extension, and will have 253 units up for sale for Rs 2,100 per sq ft. Lotus Greens new project Arena 7 at Sector 79 will offer buyers 216 units for Rs 4,650 per sq ft.  At Shahberi, Invest Group has announced the launch of its new project Landmark One. Units at the project will go for an average price of Rs 3,719 per sq ft.

Also Read: Monthly Watch: Home Sales Increase 7% In Gurgaon