Last Updated:
Home prices in Noida’s Sector 150 surged by 128% in three years, making it unaffordable for the middle class. Rental rates rose by 66%. New circle rates will further increase costs.
New circle rates will further increase property costs in Noida. (AP Photo)
The cost of owning a home in Delhi-NCR is soaring, but the situation in Noida’s Sector 150 has reached new extremes, making homeownership a distant dream for the middle class. Over the last three years, housing prices in this upscale sector have increased by a staggering 128 percent, while rental rates have surged by 66 percent, making it as expensive to live here as in some cities in the US and Europe.
According to a recent report by real estate consultancy firm Anarock, the sharp rise in property prices in Sector 150 outpaces the broader trend seen across Delhi-NCR. The report highlights that while housing prices on Sohna Road in Gurugram increased by 59 percent over the same period, rental rates there rose by 47 percent. In contrast, the increase in Sector 150 has been almost two and a half times the 2021 levels, creating a challenging environment for prospective homebuyers and renters alike.
Anuj Puri, Chairman of Anarock, noted that an analysis of major micro-markets across the top seven cities shows that home prices have risen faster than rents between the end of 2021 and the end of 2024 in cities such as Bangalore, the Mumbai Metropolitan Region (MMR), the National Capital Region (NCR), and Hyderabad. However, in cities like Pune, Kolkata, and Chennai, rental values have increased more than property prices during this period.
The scale of the increase in Sector 150 is striking. The average price of a house in the sector jumped from Rs 5,700 per square foot in late 2021 to Rs 13,000 per square foot by the end of 2024 – a 128 percent spike. Meanwhile, the average monthly rent rose from Rs 16,000 to Rs 26,600, marking a 66 percent increase. On Sohna Road, the average housing price increased from Rs 6,600 per square foot to Rs 10,500 per square foot over the same period, while rental values climbed from Rs 25,000 to Rs 36,700 per month.
Adding to the pressure, property prices in Noida are set to rise even further starting April 1, when the Gautam Buddha Nagar district administration implements a new circle rate. The circle rate – which determines the minimum value at which a property can be registered – is expected to increase by up to 70 percent. This will directly impact property prices and registration fees, making homeownership even more difficult for the average buyer.
The steep rise in both property and rental prices in Sector 150 reflects the growing demand for housing in premium areas of Noida, driven by improved infrastructure, proximity to commercial hubs, and better amenities. However, for many middle-class families, the dream of owning a home in this once-affordable sector is quickly slipping out of reach.
