News: Noida Luxury Housing Narrows Gap With Gurugram-12-04-2026

Noida, long regarded as an industrial town offering affordable and aspirational homes, is moving into the premium segment as developers from both Noida and Gurugram launch ultra-luxury projects there at Rs 25,000 to Rs 35,000 per sq ft. The recently inaugurated Noida International Airport and expanding metro and road links have raised the question of whether the city is now challenging Gurugram.

Branded residences are a large part of the shift. Gulshan Group has tied up with Indian Hotels Company Ltd (IHCL) to build the country’s tallest Taj hotel along with branded serviced residences priced at Rs 35-40 crore. M3M India has partnered with Jacob & Co. for a premium residential project, and its sister concern Smartworld Developers has joined hands with Elie Saab for a branded development in Sector 98. These projects carry ticket sizes of Rs 3 crore to over Rs 25 crore, with pricing of around Rs 33,000 per sq ft.

Land costs are also pushing up launch prices. Developers say that since 2022 they have had to pay the full amount within 90 days of allotment, whereas earlier only 10 per cent was due at purchase and the balance over five to seven years. This, they say, has made land both costlier and scarcer. Leasing of A Grade office space is rising too, with several corporates treating Noida as an important market, which has fed into housing demand.

Experts say Noida’s premium appeal rests on scale, larger homes, planned development and modern infrastructure, unlike Mumbai, where scarcity drives luxury, or central Delhi, where legacy and exclusivity dominate. Multiple connectivity projects are progressing simultaneously rather than in phases, which they expect to support further price appreciation.

Prices have risen along the Noida-Greater Noida Expressway, now an ultra-luxury destination, and along the Yamuna Expressway corridor between 2020 and 2025. A SquareYards report titled ’Runway to Realty: How Noida International Airport is Reshaping Realty.’ said apartment prices have nearly tripled over the past five years and plot values have risen by an average of 1.5x, with select micro-markets seeing up to 5x growth. It projects plot and apartment values will rise by a further 28% and 22%, respectively, over the next two years.

The Yamuna Expressway Industrial Development Authority (YEIDA) recently launched its residential plot scheme 2026 with 973 plots near the airport at a land rate of Rs 36,260 per sqm. According to the brochure, registration amounts are Rs 5.87 lakh for 162 sqm plots, Rs 6.63 lakh for 183 sqm, Rs 6.67 lakh for 184 sqm, Rs 7.25 lakh for 200 sqm, Rs 8.08 lakh for 223 sqm and Rs 10.51 lakh for 290 sqm.

Developers say buyers in the Rs 10 crore to Rs 35 crore range are high net-worth individuals: Noida families upgrading to serviced-apartment living, South Delhi residents relocating, MSME owners and logistics entrepreneurs drawn by the airport, and senior corporate executives. End users include Noida-based entrepreneurs, contractors, service consultants and NRIs.

Gupta said an upgradation wave is under way within Noida, with residents of kothis and older or smaller apartments seeking modern homes. Branded residences with hotel services, he said, are filling the city’s lack of five-star infrastructure for high-profile meetings. East Delhi has traditionally leaned towards Noida, he noted, but interest from South Delhi buyers is new, driven by top-tier schools and office hubs. He cautioned that supply of high-quality projects from Grade A developers remains significantly lower than in Gurugram.

He recalled that moving to Gurgaon was once "seen as a downgrade" before it became aspirational, and said Noida is at that stage now, with the gap narrowing. If Haryana’s water, road and sewage problems are not addressed, Noida’s momentum could last longer than expected, he added. On sustainability, he said the right product will sell even at Rs 50 crore while a poor one may struggle at Rs 4 crore, and that a market matures when end users absorb inventory from investors.

Ankita Sood of Knight Frank India said Noida was never a ’poor cousin’ but served a distinct set of needs. The airport’s full impact, she said, will depend on demand converging across residential, commercial and hospitality segments. Demand now comes from across Uttar Pradesh, and Noida is emerging as a key hub, though it has not yet overtaken Gurugram.