Noida. These days, there is much discussion about ultra–luxury flats worth 20-25 crore rupees, but there are still some places where you can get a luxurious flat for just one to one-and-a-half crore. This is not somewhere else, but in Noida and Greater Noida itself.
The real estate market of Noida–Greater Noida now seems divided into two parts. On one side are ultra–luxury projects, where the price of a single flat is reaching 10 crore to 20-25 crore rupees, while on the other side, in the budget of 80 lakh to 1.50 crore rupees, buyers are getting “affordable luxury” flats with club facilities, security, green areas, and connectivity. In areas like Noida Extension, Sector-150, Sector-143B, and Greater Noida West, 2 and 3 BHK flats are available between 80 lakh and 1.5 crore. In projects like SKA Orion, Nirala Estate, ACE, and Purvanchal Group, middle-class buyers are getting better space and modern amenities. This is why, compared to Delhi, Noida is now becoming the first choice for those buying homes in a 1-1.5 crore budget.
On the other hand, ultra–luxury projects have rapidly emerged in Noida Expressway and prime sectors. In projects such as Max Estates’
Sector-128 project, ATS Knightsbridge, Godrej Woods, and ACE Starlit, large sizes, private lifts, low-density design, and wellness concepts are being offered, with prices reaching several crores. Prestige Group is also preparing for a major investment in Noida’s premium housing segment, which shows that developer confidence in the high-end market is steadily rising.
Why are prices rising
According to CREDAI, Dinesh Gupta, President of Credai Western UP, In the recent past, a sharp rise in land and construction costs has pushed up housing prices. Reports show a 20 to 25 percent increase in construction costs, mainly due to rising prices of cement, steel, and other raw materials.”
Similarly, rising raw material and labour costs have also created an additional 10 to 15 percent pressure on construction costs, which developers are directly adding to property prices.
Experts believe that the continuous rise in land prices, especially in areas with infrastructure projects, has become a major part of the total project cost, making flats more expensive.
Real estate experts say that due to Jewar International Airport, expressways, metro connectivity, and corporate investment, Noida is rapidly becoming a high-value market. This is why, while flats worth crores are being launched on one side, developers are also offering around 1 crore “comfort + luxury” packages keeping the middle class in mind.
Suresh Garg, CMD, Nirala World said, “Today’s buyer does not look only at square feet, but wants a home where children’s play areas, greenery, club facilities, fitness, and community amenities are all available in one campus. Keeping this idea in mind, we are designing our projects so that even within a reasonable budget, the buyer can experience a premium lifestyle.”
Geetanjali Khanna, MD, Rearco Private Limited said, “Homebuyers expect a premium lifestyle even in a low budget. Like a smart buyer, before moving ahead in the name of luxury and premium, they are doing a full analysis based on their needs and facilities. The rising cost of construction materials and resources has affected house prices. In such a situation, promoters are controlling costs and preparing projects according to present and future demand, so that homebuyers can get the features and facilities of luxury and premium projects at pocket-friendly costs.”
Himanshu Garg, Director, RG Group said, “In real estate, land cost is the biggest part of any project. Developers who had prepared land banks in time, or bought land at lower prices, are still able to control costs today. This benefits buyers, and flats with better facilities become available at relatively affordable prices.”
Shailendra Sharma, Chairman, Renox Group said, “Homebuyers are now looking not just for a roof, but for better space and a premium lifestyle. In such a situation, developers who had already prepared land banks are still able to provide homes and housing societies with better facilities within a limited budget, because the impact of rising land and construction material prices is clearly visible in new projects. This is why demand for units in the 1-2 crore category continues to remain strong.”
Lt. Ashwini Nagpal (Retd), COO, Diligent Builders said, “Homebuyers expect a premium lifestyle even in a low budget. Like a smart buyer, before moving ahead in the name of luxury and premium, they are doing a full analysis based on their needs and facilities. The rising cost of construction materials and resources has affected house prices. In such a situation, promoters are controlling costs and preparing projects according to present and future demand, so that homebuyers can get the features and facilities of luxury and premium projects at pocket-friendly costs.”