At 98%, Greater Noida Sees Highest Avg Price Rise
in NCR Over 5 Years - ANAROCK Report
- Among
all NCR cities, avg. residential prices in Greater Noida increased from
INR 3,340 per sq. ft. in Q1 2020 to INR 6,600 per sq. ft. in Q1 2025-end
- At
92%, Noida records second-highest avg. price rise; Gurugram sees 84% jump
in the period
- Despite
price hikes, NCR saw unsold inventory drop 51% in last five years – from
approx. 1,73,117 units by Q1 2020-end to approx. 84,500 units by Q1
2025-end
- At
72%, Noida saw the highest decline in its unsold stock – from approx. 18,148
units by Q1 2020-end to approx. 5,012 units by Q1 2025-end
- Inventory
overhang in NCR down to 17 months presently from the peak of 88 months
five years ago
- In previous years, affordable housing had the
highest share of new supply in NCR – in the last 3 years, luxury &
ultra-luxury housing supply & demand have gained more traction
- Report also identifies & examines key
growth corridors such as Sohna, New Gurgaon, Dwarka Expressway &
Greater Noida West for housing, office & retail growth
New Delhi, 24 April 2025: The National Capital Region -
the most remarkable turnaround story in the annals of Indian real estate – is a
resounding testament to the impact of structural reforms like RERA, SWAMIH
Fund, and PMAY (U). Over the last decade, NCR has seen a massive resurgence in
demand and supply across real estate segments, and key hotspots have witnessed
remarkable housing price appreciation. In its report NCR Real Estate – A Beacon of
Growth and Opportunity, ANAROCK identifies these growth
precincts.
Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Greater
Noida saw an astounding 98% appreciation among all NCR cities in the last five
years - average prices here rose from INR 3340/sq.ft.
in Q1 2020 to INR 6600/sq.ft. by Q1 2025-end. Noida recorded the second-best
appreciation of 92% in the same period – from INR 4795/sq.ft in Q1 2020 to
INR 9200/sq.ft by Q1 2025. Gurugram witnessed an 84% jump - from INR
6,150/sq.ft. to INR 11,300 per sq. ft. in this period. Overall, the entire NCR
saw an 81% jump in average residential prices over five years. Little wonder,
then, that the region is seen as an investment destination par
excellence among those who know where to look and what to look for.”
|
Avg. Residential Prices in NCR Cities |
|||
|
Cities |
Q12025 |
Q1 2020 |
% Change |
|
Gurgaon |
11,300 |
6,150 |
84% |
|
Noida |
9,200 |
4,795 |
92% |
|
Greater Noida |
6,600 |
3,340 |
98% |
|
Ghaziabad |
5,600 |
3,260 |
72% |
|
Faridabad |
4,800 |
3,200 |
50% |
|
Delhi |
25,200 |
18,200 |
38% |
|
NCR (altogether) |
8,300 |
4,580 |
81% |
Source: ANAROCK Research
Notably, the NCR market, which had previously
seen the highest unsold stock in the country, is now seeing a remarkable
decline. Despite the significant price rises across NCR in
the last five years, unsold inventory in the region has dropped by 51% in the
last five years – from approx. 1,73,117 units by Q1 2020-end to approx. 84,500
units by Q1 2025-end.
City-wise, Noida recorded the highest 72% decline
in its overall unsold stock – from approx. 18,148 units by Q1 2020-end to
approx. 5,012 units by Q1 2025-end. Ghaziabad saw its unsold stock decline by
58% in this period, from approx. 27,142 units by Q1 2020-end to approx. 11,393
units by Q1 2025-end. Greater Noida saw a 56% decline in unsold inventory, from
approx. 42,906 units by Q1 2020-end to approx. 19,066 units by Q1 2025-end.
|
Unsold Inventory in NCR Cities
(Units) |
|||
|
Cities |
Q12025 |
Q1 2020 |
% Change |
|
Gurgaon |
34,921 |
60,130 |
-42% |
|
Noida |
5,012 |
18,148 |
-72% |
|
Greater Noida |
19,066 |
42,906 |
-56% |
|
Ghaziabad |
11,393 |
27,142 |
-58% |
|
Faridabad |
6,233 |
6,927 |
-10% |
|
Delhi |
5,623 |
12,723 |
-56% |
|
Bhiwadi |
2,252 |
5,141 |
-56% |
|
Total |
84,500 |
1,73,117 |
-51% |
Source: ANAROCK Research
“The report further highlights that strong sales
velocity over the years, along with significant new launches, reduced the
inventory overhang to just 17 months by the end of Q1 2025,” says Santhosh
Kumar. “This is a remarkable drop from the peak of 88 months about five years ago.”
The NCR residential market saw a new supply addition of 53,000 units in 2024, almost 44% higher than
the launches in 2023. Another notable change is in budget
categories - in previous years, affordable housing (units priced < INR 40
lakh) dominated the supply pipeline. However, the past three years post
COVID-19 saw the maximum supply share cornered by luxury and ultra-luxury
housing.
In fact, the report highlights a significant increase in new launches in
the ultra-luxury segment (units priced over INR 2.5 Cr.), which contributed
nearly 59% in 2024 as compared to 24% in 2023 - and only 4% in 2020. The supply
share of affordable housing continued to decline, accounting for only 11% of
NCR’s total launches in 2024 as compared to 41% in 2022, and 47% in 2019.
The report also identifies key growth corridors in NCR such as Sohna,
New Gurgaon, Dwarka Expressway and Greater Noida West.
Download NCR Real Estate – A Beacon of
Growth and Opportunity
