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Updated: January 08, 2024, 08:37 PM IST | BrandMedia | brandmedia@mid-day.com | Mumbai
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As we step into the promising landscape of 2024, Noida`s real estate market stands as a testament to resilience and growth.
Buniyad, a leading player in the real estate domain, brings forth valuable insights into the trends and expectations that shape Noida`s real estate in the coming year.
1. Surge in Luxury Housing: A Striking 200% Increase in 2023
In the dynamic realm of real estate, Noida experienced an extraordinary surge in luxury housing, witnessing a remarkable 200% increase in 2023. This surge not only reflects the evolving preferences of homebuyers but also underscores the city`s capacity to cater to diverse market segments.
2. Post-COVID Rebound: 10 Million Square Feet of Office Space Leased by Q3 2023
Noida`s commercial sector demonstrated resilience post-COVID, with a substantial leasing of 10 million square feet of office space by the third quarter of 2023. This achievement not only signals a bounce back but also positions Noida as a strategic hub for businesses seeking growth and stability.
3. Anticipated Rise in Property Rates: 10-15% Growth Across Industrial, Residential, and Commercial Segments
Looking ahead, Noida`s property market is poised for growth, with anticipated rate increases of 10-15% across industrial, residential, and commercial segments. This projection indicates a robust market, driven by factors such as increased demand and strategic economic positioning.
4. Surging Demand for Industrial Plots and Factories: Buniyad Foresees a Continuation in 2024
Buniyad, a key player in the real estate landscape, witnessed a surge in demand for industrial plots and factories in 2023. This trend is expected to persist into 2024, highlighting Noida`s appeal as a thriving industrial hub.
5. Skyrocketing Demand for Low-Budget Residential Apartments: Greater Noida West/Noida Extension in Focus
In response to changing market dynamics, Noida witnessed a substantial demand for low-budget residential apartments, particularly in Greater Noida West/Noida Extension. The surge in demand has propelled prices skyward, indicating a resilient market in this particular segment.
6. Macro-Economic Dynamics: Noida`s Favourable Position in the "China Plus One" Era
Noida`s emergence as a manufacturing hub is intricately linked to macro-economic factors, with India benefiting from the "China Plus One" policy. Noida, with its strategic location and business-friendly environment, has become a natural choice for businesses seeking to diversify their manufacturing base.
7. UP Government`s Vision: Initiatives for Data Centres Signal Digitalization and Prosperity
The Uttar Pradesh government`s forward-looking initiatives, especially those targeting the establishment of data centres in Noida, underscore a vision of digitalization and economic prosperity. These schemes position Noida as a frontrunner in the digital economy, aligning with global trends and fostering growth opportunities.
In conclusion, as we gaze into 2024, Noida`s real estate landscape presents a compelling narrative of growth, adaptability, and vision. Buniyad remains at the forefront, navigating these dynamic shifts and providing valuable insights for those looking to engage with Noida`s vibrant real estate market.
For more information and assistance in navigating Noida`s real estate, contact Buniyad at:
+91-999 9011 115
info@buniyad.com
