Noida, Ghaziabad reports a 30% rise in the sale of residential properties sale during the festive season

The real estate sector is booming in India, especially around Noida. As during the festive season, the real sector saw a 30% spike in sales. It comes after 2 years of lockdown affecting the sales of the real sector. Plus, festive offers play a significant role in attracting consumers. 

“We have witnessed a 30-40 per cent rise in sales this festive season. After two years of Covid induced lockdowns, this is the biggest spike in sales in recent history,” said Sanjay Sharma, MD, SKA builders.

Noida real estate sector

“Work from-home culture has also tweaked the demand for the size of flats. Many customers are opting for a bigger flat with a separate room for office work or a home office. We are also in the process to make a society, especially for people working from home because the WFH is going to stay, people will be working on a hybrid mode and that’s why the demand for such homes is high,” said Sharma.

Yukti Nagpal, the owner of Gulshan Homes Noida, said the rise in sales can also be seen in luxury housing as people who delayed their plans due to Covid for two years came out and renewed their plans and entered the luxury housing segment.

“People who were about to buy flats worth Rs 90 lakh to one crore are now opting to invest in luxury housing. We have witnessed a spike of 30-40 per cent during the festive season. The rise in sales is mostly in the housing sector and lesser in the office and commercial sector,” she said.

According to the current scenario, Noida, as well as Greater Noida, is one of the most in-demand realty hubs in North India. The reason being its good connectivity, strong infrastructure, and affordability few vital factors in home buying. As compared to Gurugram and Delhi, the prices in Noida are budget friendly and affordable.