NCR real estate market grows by 81%, Noida and Gr Noida record significant price hikes
Noida: The National Capital Region (NCR) has noticed a substantial resurgence in the real estate sector with increase in both demand and supply. Reports suggest that prominent hotspots are experiencing significant housing price appreciation as an impact of structural reforms such as RERA, SWAMIH Fund, and PMAY (U).
Santosh Kumar, Vice Chairman of ANAROCK Group, said that Greater Noida experienced an astonishing 98 per cent appreciation among all NCR cities in the last five years, with average prices rising from Rs 3340/sq.ft. in 2020 to Rs 6600/sq.ft. by 2025.
“The NCR region as a whole saw an 81 per cent increase in average residential prices over the five-year period. Consequently, the region has become an investment destination par excellence for knowledgeable investors,” said Kumar.
“Noida marked the second-highest appreciation of 92 per cent during the same period, moving from Rs 4795/sq.ft to Rs 9200/sq.ft. Gurugram recorded an 84 per cent rise, climbing from Rs 6,150/sq.ft. to Rs 11,300 per sq. ft,” Kumar stated.
Kumar highlighted that the NCR market, previously infamous for the highest unsold stock in the country, has now seen a substantial reduction.
“Despite the surge in prices across the NCR in the past five years, unsold inventory dropped by 51 per cent – from approximately 1,73,117 units at 2020-end to about 84,500 units by 2025-end. Noida registered the largest drop of 72 per cent in its unsold stock while Ghaziabad recorded a 58 per cent decrease in unsold stock, falling from around 27,142 units in 2020 to approximately 11,393 units by 2025-end. Greater Noida witnessed a 56 per cent reduction in unsold inventory, from about 42,906 units at 2020-end to nearly 19,066 units by 2025-end,” the report said. The report further outlines the NCR residential market recorded a new supply addition of 53,000 units in 2024, reflecting a 44 per cent increase compared to launches in 2023. Key growth corridors identified in the report within the NCR include Noida International Airport, Sohna, New Gurgaon, Dwarka Expressway, and Greater Noida West.
