Monthly Watch: Homes Sales Up 36% In Noida

The Central government's focus on affordable housing is assisting Noida real estate to gradually come out of a slump the city has been battling for about three years now. According to a PropTiger DataLabs report, new project launches and home sales figures went upwards in the first month of the year 2017. According to the report, residential launches in Noida touched their highest level in the past eight months, with the launch of 2,000 units in January. Home sales, too, increased 36 per cent over December. "The affordable housing segment contributed over 60 per cent of the launches and sales during the month," says the report.

Property prices, on the other hand, declined three per cent when compared to January 2016. A decline in prices could also have been the reason why buyers are back to the market.

The performers

Localities that contributed the highest to the monthly home sales in Noida include Sector 150, Sector 1- Noida Extension, Sector 22D Yamuna expressway, Techzone 4 and Omicron, in that order. These localities offer buyers housing options across categories. To buy property at Sector 1-Noida Extension, for instance, buyers have to fork out between Rs 6,950 and Rs 8,450 per sqft. At Omicron, on the other hand, the average price for property stands at Rs 2,900-3,000 per sqft. At Sector 22D-Yamuna expressway, average property price stands at Rs 3,400-3,500 per sqft while rates vary from Rs 5,800 to 5,950 per sqft at Techzone 4. Average property price at Sector 150 stands at Rs 5,600-6200 per sqft, according to PropTiger DataLabs figures.

Also read: New Exit Policy Will Help Both Noida Developers And Authorities

Coming soon

Developers who launched new projects in Noida in the first month of the year 2017 include Misgun Group, Paras Buildtech, Supertech and Tata Value Homes. Real estate major Tata Value Homes has launched its new project, Destination 150, at Sector 150. The project will offer buyers 1,000 units priced at Rs 4,399 per sqft. Another real estate biggie Supertech has announced the launch of its new project Shaan at Sector 22D-Yamuna Expressway. The 550 units at the project are priced at Rs 2,101 per sqft. Paras Buildtech has launched its new project One33 at Sector 133 and has priced the 75 units at Rs 7,500 per sqft. At Misgun Mannnat at Omicron, units have an asking price of Rs 2,010 per sqft.