Noida, October 25, 2024: With the festive season nearing, the Indian real estate market is experiencing a surge in both residential demand and supply. According to Magicbricks, India’s leading real estate portal, Noida’s residential inventory increased by 50% in just one month, driven by heightened interest from potential buyers.
Sector 75 emerged as the top supply hotspot, with a 20% increase and prices reaching INR 13,113 psf, followed by Sector 150 with a 10.55% rise at INR 11,875 psf, and Sector 128 with an 8.7% increase to INR 14,120 psf.
To tap into the season, developers in Noida, including Ajnara Homes, Mahagun Mywoods, and Exotica Dreamville, have rolled out special offers to attract homebuyers. Ranging from discounts, cashback options, and flexible payment plans. Additionally, some projects may offer benefits like zero stamp duty, no GST, or free modular kitchen installations to make the home-buying process more appealing during the festive period.
Magicbricks data reveals the city’s average residential rate at INR 11,625 psf, with prices varying across property types: builder floors at INR 3,800 psf, multistorey apartments at INR 10,100 psf, residential houses at INR 17,000 psf, and luxurious villas at INR 18,900 psf.
Notably, demand for under-construction properties has surged, driving prices up by 69% YoY, from INR 7,547 psf in Q3 2023 to INR 12,758 psf in Q3 2024.
Magicbricks is India’s No.1 property site
As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property listings. Magicbricks has metamorphosed into a full stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.
With 17+ years of experience and deep research-based knowledge, Magicbricks also presents a repertoire of insight-driven platforms like MBTV- India’s leading online real estate YouTube channel, and other proprietary tools so that home buyers can access all information related to price trends and forecasts, locality reviews and more.