Greater Noida West, Greater Noida

State Of The Market

October 2023

Hotbed of housing investments, with consumers opting for luxury lifestyle at affordable prices
 Micro Market Overview Report | Greater Noida West, Greater Noida

Market Overview
● Greater Noida West is the fastest Supply
growing micro market in Greater 0.25% 8.62%
Noida in terms of demand.
Q-o-Q Y-o-Y
● From a supply perspective Greater Demand
Noida West has witnessed highest
5.36% 20.66%
growth compared to other localities in
Greater Noida.
Q-o-Q Y-o-Y
Capital Appreciation
● Highest rental growth amongst all
7.14% 21.62%
localities of Greater Noida.
Q-o-Q Y-o-Y
● This locality also offers good ROI for Rental Growth
investors with capital values
9.11% 13.15%
increasing by 21.62% YoY. Q-o-Q Y-o-Y

Nearby Localities
Supply Supply Demand Capital Capital Rent Rent
Demand
Locality Growth Growth Growth Appreciatio Appreciation Growth – Growth
Growth YoY
QoQ YoY QoQ n – QoQ – YoY QoQ – YoY

Pi-Rho-
-5.11% 2.36% 0.62% 17.38% 8.62% 31.25% 5.74% 7.25%
Sigma

Zeta-Eta-
-3.14% 5.61% 2.43% 13.50% 9.30% 20.51% 0.48% 2.77%
Theta

Omega-
-6.61% 2.52% 3.84% 11.26% 9.09% 36.36% 5.05% 9.67%
Chi-Phi

Omicron-
-3.26% 2.30% 2.47% 14.51% 15.69% 22.92% 3.91% 7.42%
Mu-Xu

Alpha-
Beta-
-4.72% 2.02% 3.02% 17.51% -6.41% 8.96% 3.12% 11.29%
Gamma-
Delta
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 Micro Market Overview Report | Greater Noida West, Greater Noida

Competitive Landscape
Top Developers in Micro Market (In terms of supply) Unit Density in Micro
Market
150 Units Per Acre

FAR of Projects in
Micro Market
3.5

Open Area offered by

Developers in Micro
There are 62 active developers in Market
Greater Noida West.
75%
Trident and Amrapali group leads on the Supply
front with maximum units listed for sale on MB
Loading Factor in
platform. This is closely followed by renowned
Micro Market
builders such as Express, County and ATS.
25%

New Launches in Micro Market

Project Builder Configuration Land Area No. of Towers
- Total Units

Express Astra Express Builders 2,3,4 BHK 6 Acres 7 53

Ltd

Palm Olympia Sam India 2,3,4 BHK 14 Acres 11 750

Abhimanyu
Housing

Arihant One Arihant Group 3,4 BHK 3 Acres 3 308

Civitech Strings Civitech 2,3 BHK 5 Acres 4 864

Developers

Spring Elmas Sublime Realtech 3,4 BHK 5 Acres 8 664

Pvt. Ltd
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 Micro Market Overview Report | Greater Noida West, Greater Noida

Consumer Demand
Changing Consumer Preferences by Budget Segment

“More than 50%

home seekers
searching for
properties in the
budget segment of
Rs. 5000 psf - Rs.
7500 psf.”

Prices in Rs per sq ft

• There is a drop in consumer demand from 68% to 42% YoY in the

low segment category (upto RS 5000 psf).

• The mid segment category (Rs. 5000 psf – Rs. 7500 psf) witnessed
demand growth of 50% YoY.
• Even the high-end luxury segment witnessed sustainable growth YoY.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Consumer Demand
BHK Wise Demand Apartment Size Wise Demand

Unit sizes in sq ft

• Consumers preferring 3 BHK or larger apartments over last five

quarters with 62% home seekers searching for 3 BHK or larger
apartments. This is an increase by 6% YoY. Also evident with increasing
demand for larger size apartments.

• Buyers are inclined towards larger apartments in this area because, in

comparison to other regions in the NCR, these spacious units are
available at more competitive prices.

• 1 Bhk and 2 Bhk apartments are on declining trends over the last five
quarters. Demand in the category declined by 5% YoY.

• Demand for apartment size below 750 sq ft has gone down by 2%

YoY.
• As evident with the Bhk trend, consumer preferences for apartment
sizes greater than 1250 sq ft have increased by 52%.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Consumer Demand International

Country Wise Demand
YoY Growth
99% 85% 91% 140% 90%

149% 68% 49% 93 103

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Consumer Demand National

City Wise Demand
YoY Growth
57% 87% 93% 87%

91% 99% 97% 97 98

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Market Performance
Capital Appreciation Rental Growth

Rate INR psf for all the residential asset classes in the Rent psf per month for all the residential asset classes
micro market in micro market

● Both in case of QoQ and YoY change across capital and rental growth,
Greater Noida West comes up to be at the top when compared to its
competing micro markets within the city.

● Prices in Greater Noida West have increased by 21.62% whereas

other micro markets have witnessed similar capital appreciation of
22%. Capital appreciation in Greater Noida stands at 27%.
● Rental values in Greater Noida West have increased by 12% which is
highest among all micro markets of Greater Noida.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Supply Trend
Product Mix Bedroom Wise Total Supply

Quarterly trend in supply of residential asset classes in the micro market Quarterly trend in supply of various configurations in the micro market

“Builder floors gain prominence from builders and developers in Greater

Noida West.”
● A clear shift in supply of larger apartments can be seen over the last
five quarters, aligning with the consumer preferences, as units with 3
BHKs and above configurations witness traction.

● Just like Gurugram, now developers in Greater Noida West are

focusing more on Apartments and low rise builder floors as against
other alternatives like villas and independent houses.

● Supply of apartments have increased by 5% YoY and builder floors

by 7% YoY

● The supply of Villas has witnessed decline of 10% YoY

● 60% consumers are looking for 3 Bhk and above units.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Supply Trend
Under Construction vs Unit Size wise Supply
Ready to Move

Unit sizes in sq ft

“Bigger apartments increasing in supply over the last five quarters”

“Developers focusing more on ready to move properties in Greater Noida West”

● With RTM properties dominating the market share, it is evident that

developers are prioritizing unsold inventory.

● In case of multistorey apartments maximum supply is of RTM

properties (58.5%).

● Though there was asymmetrical growth of different unit types in each

of last five quarters, but there is clear overall growth in supply of
larger units when compared to YoY.

● Supply of luxury high end apartments (i.e unit size 3000 sq feet and
above) has picked up over the last two quarters accounting for 7.5%
of overall supply.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Supply Trend
Supply by Budget Segmentation

“Supply of mid segment

(Rs 5000 psf to Rs 7500
psf) properties has
increased by 48% YoY
and 13% QoQ”

Rates in INR psf

• 50 % decrease YoY in lower segment unit (Rs 5000 psf).

• Supply of Mid segment properties (Rs 5000 psf to Rs 7500 psf) has
increased by 10% QoQ and 40% YoY to align with consumer
preferences

• The availability of high-end real estate units priced between Rs 7500

per square foot and Rs 10000 per square foot has risen by 2.5% on
a quarterly basis and 7.5% year-on-year.

• Ultra luxury properties (greater than Rs 10000 sqf) have emerged this
quarter. This segment was nonexistent in last four quarters in Greater
Noida West.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Most Active Agents

Top Projects with Active Brokers Asset Class Wise Active Brokers

• There were 1216 active agents in Greater Noida West.

• Out of total active brokers in Greater Noida, around 35% are active in
Greater Noida West.

• Agents are most active in multi storey apartments followed by

builder floors and villas indicating that multi storey apartment are
fastest moving asset class in the locality.

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 Micro Market Overview Report | Greater Noida West, Greater Noida

Key Takeaways

- Leading asset classes in Greater Noida West are Multi Storey

Apartments and Builder Floors accounting for more than 60% of
both demand and supply.

• Budget segment of Rs 5000 – Rs 7500 psf is leading in terms of

consumer preferences. Supply is also aligning with these preferences
over the last four quarters.

- NRI demand has increased substantially over the last 12 months,

witnessing almost 100% increase. United States, United
Kingdom and Canada lead demand with YoY increases of 99%,
98% and 129% respectively.
- As per consumer preferences, 3 BHK & higher configuration homes
accounted for more than 60% of demand.

- It’s a fast-moving market with more than 1216 active agents

accounting for 35% of total agent base of Greater Noida.

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For more information and research related queries, please contact:

Abhishek Bhadra| Research Head Pratit Kumar Das | Research Analyst

abhishek.bhadra@magicbricks.com
Kumar Priyam | Research Analyst

Disclaimer: The data presented in the report is compiled by Magicbricks from multiple sources. Magicbricks
gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and
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