Noida luxury homes' demand on the rise
Noida is now transitioning into a premium and luxury real estate destination with apartment priced as high as Rs 40 crore being launched and sold
Noida is now transitioning into a premium and luxury real estate destination with apartment priced as high as Rs 40 crore being launched and sold, with demand coming from top executives of company’s setting up base here.Recently, a luxury bare-shell apartment of 10,000 sq. ft. at Prateek Edifice in Sector 107, Noida, has been sold for approximately Rs 20 crore.Also Read: India's middle class may have little room in the richer housing marketM3M, Max, Gulshan and County group are coming up with luxury residences in Noida where the average selling price is ranging from Rs 25,000 per sq ft to Rs 35,000 per sq ft.The deal highlights the growing strength of Noida’s luxury housing segment and the increasing willingness of affluent buyers to invest in high-value residential assets beyond traditional luxury markets.Also Read: Bengaluru, Mumbai, Delhi NCR: A tale of three housing marketsThe transaction was facilitated by Vipul Gupta of NeoBrix.“Luxury homebuyers today prioritise quality, exclusivity and long-term value over everything else.
This landmark transaction at Prateek Edifice reflects the growing confidence of affluent buyers in Noida’s luxury residential market,”said Vipul Gupta, from NeoBrix.Prateek group has delivered more than 20 million sq. ft. of real estate, is home to over 50,000 residents, and is currently developing an additional 10 million sq. ft.The developer has since expanded its portfolio with residential projects including Prateek Wisteria, Prateek Fedora and Prateek Stylome.In NCR, Noida and Greater Noida have emerged among the region’s most
dynamic residential corridors, supported by infrastructure investments, enhanced connectivity and growing economic activity.The company has an ongoing luxury project, Prateek Grand Begonia, located in Siddharth Vihar, Ghaziabad, which has registered Rs 1,200 crore sales in FY 24-25 for its 600 units.Hoping to cash on the influx of corporates with the opening of airport, builders are tying up with hospitality companies to manage these high-end residences.The development of the Noida International Airport at Jewar is acting as a powerful
multi-sector demand driver.Developers, however said that increase in pricing is not just because of demand for high living, but also increase in pricing for raw materials, land cost and human resource which eventually add on.A key catalyst in Noida’s transition of becoming an ultra luxury hub has been the rise of branded developments. Partnerships with global hospitality and lifestyle brands are introducing a new layer of credibility, service, and long-term asset value, which resonates strongly with today’s discerning buyers.
The BriefWire