Noida’s luxury housing market is seeing transactions for larger and higher-priced homes as residential development expands beyond the National Capital Region’s traditional premium locations.
A recent transaction involving a 10,000 sq ft bare-shell apartment in Sector 107 has brought this segment into focus.
The apartment at Prateek Edifice has been sold for approximately Rs 20 crore, according to Prateek Group. It was acquired by Shwetabh Kumar, CEO of a multinational healthcare company, while the transaction was facilitated by Vipul Gupta of NeoBrix.
The transaction comes amid growth in the higher-priced residential segment across India. According to JLL’s Residential Dynamics Report, demand for homes priced above Rs 1 crore increased 30% year-on-year.
“Luxury homebuyers today prioritise quality, exclusivity and long-term value over everything else. This landmark transaction at Prateek Edifice reflects the growing confidence of affluent buyers in Noida’s luxury residential market,” said Vipul Gupta, from NeoBrix, who facilitated the transaction.
He further shared, “What is particularly noteworthy is that buyers are increasingly gravitating towards developments that offer a combination of superior construction quality, thoughtful planning and a strong residential ecosystem. Projects such as Prateek Edifice helped shape Noida’s early luxury housing narrative, while the Group’s other project, Prateek Canary in sec-150, has emerged as one of the city’s most exclusive low-density luxury developments. And is touted to be the next most luxurious project in Noida.”
Noida and Greater Noida have seen residential development alongside investments in infrastructure, connectivity and commercial activity. The higher-priced housing segment has also seen demand for larger homes and low-density developments.
