Noida’s Property Boom | Unprecedented Growth in Three Years

In the NCR (National Capital Region), average capital values rose by 128% to Rs 13,000 per sq/ft last year from Rs 5,700 per sq/ft three years ago, ANAROCK data showed. Another emerging prime location in the NCR, Sohna Road in Gurugram saw average capital values surge by 59% to Rs 10,500 per sq/ft in 2024-end from Rs 6,600 per sq/ft in 2021-end.

Post-pandemic real estate boom across top Indian cities

In the post-pandemic period, property prices have risen exponentially across the top 7 Indian cities: Bengaluru, Pune, Hyderabad, NCR, MMR, Kolkata, and Chennai. Property rates in key micro markets of these cities have grown by as much as 128% between 2021-end and 2024-end, according to the latest data by ANAROCK Property Consultants.

Noida and Gurugram lead the NCR growth

In the NCR (National Capital Region), average capital values rose by 128% to Rs 13,000 per sq/ft last year from Rs 5,700 per sq/ft three years ago, ANAROCK data showed. Another emerging prime location in the NCR, Sohna Road in Gurugram, saw average capital values surge by 59% to Rs 10,500 per sq/ft in 2024-end from Rs 6,600 per sq/ft in 2021-end.

Mumbai remains the most expensive market

Though NCR’s Noida Sector 150 logged the highest appreciation in the average property values in the three years, MMR (Mumbai Metropolitan Region) continued to be the most expensive real estate market for buyers. Average property price in Mumbai’s Chembur surged to Rs 27,800 per sq/ft last year, compared to Rs 18,735 per sq/ft three years ago—a significant jump of 48%. In the Mulund area of MMR, the average price of properties rose by 43% to Rs 24,200 from Rs 16,917 per sq/ft in three years.

Bengaluru property prices rise with IT expansion

According to ANAROCK data, the average property price in Sarjapur Road of Bengaluru jumped by 63% to Rs 9,850 per sq/ft from Rs 6,050 in a three-year period till 2024-end. The price rise was even higher in the Thanisandra Main Road of the city, with average value of property surging 67% to Rs 8,900 per sq/feet in 2024 from Rs 5,345 per sq/feet in 2021-end.

Hyderabad’s real estate boom

The average property rates in the city have risen by up to 78% in three years. HITECH City of Hyderabad saw the average value of property rise by 62% to Rs 9,300 per sq/ft from Rs 5,753 per sq/ft at the end of 2024. Gachibowli property rates saw an average 78% growth at Rs 8,900 per sq/ft in 2024-end. The average rate stood at Rs 5,010 per sq/ft in 2021-end.

Pune sees steady property price growth

Compared to NCR, MMR, Hyderabad, and Bengaluru property markets, the average property rate growth in Pune has been somewhat moderate in the last three years. Hinjewadi area of Pune saw a 37% appreciation in average property price at Rs 7,800 per sq/ft in 2024 against Rs 5,710 per sq/ft three years ago. Wagholi area of the city too witnessed similar appreciation in rates over the past three years, as per ANAROCK data. Average value of property in this area stood at Rs 6,800 per sq/ft in 2024 against Rs 4,951 per sq/ft in 2021-end.

Kolkata sees the slowest growth

The city’s EM Bypass saw just 19% rise in average value of properties in three years, which is the lowest growth for property markets in 7 major cities. The average price of property stood at Rs 8,350 per sq/ft in 2024-end against Rs 7,000 per sq/ft three years ago, a jump of 19%. However, the average price in Rajarhat area of the city jumped 32% to Rs 5,900 per sq/ft against Rs 4,475 per sq/ft during this period.

Chennai property market remains stable

The city too saw moderate increase in average property rates in the three-year period. Perambur area saw rates rising by 23% to Rs 7,800 per sq/ft in 2024 from Rs 6,350 in 2021. Pallavaram area saw even milder growth at 21% in property rates. Average value of properties stood at Rs 7,200 per sq/ft in 2024 against Rs 5,950 per sq/ft in 2021.