Noida Sector 150 home prices rose 128% in three years

Home prices in Noida's Sector 150 have increased sharply, rising by 128% in just three years. This surge has made buying a home difficult for many middle-class families. Rental prices have also jumped, climbing by 66%. A report from real estate consultancy Anarock highlights that the increases in Sector 150 far exceed the average price changes seen in the Delhi-NCR region. For comparison, housing prices in Gurugram’s Sohna Road rose by 59% during the same period. The average cost of a home in Sector 150 rose from Rs 5,700 per square foot in late 2021 to Rs 13,000 per square foot by the end of 2024. Monthly rents also increased, from Rs 16,000 to Rs 26,600. This trend is reflected in other cities, where rental prices have sometimes outpaced property costs. Starting April 1, property prices in Noida are expected to rise even more. The local government will increase the circle rate, which determines the minimum registration value for properties, by up to 70%. This change will likely make homes even less affordable. The rise in prices is attributed to higher demand for housing in premium areas, improved infrastructure, and better amenities. Many middle-class families now find that the dream of homeownership in Sector 150 is becoming increasingly unattainable.