Residential rentals in the industrial city of Noida are showing no signs of calming down. This is mainly due to the escalating property prices which mostly refer to the land prices. With little land available for development in Delhi, over the years, Noida have acted as viable suburb for owning inexpensive real estate.

Metro railway expansion plans to Noida coupled with the completion of a proposed airport is sure to make Noida the best connected and thereby the most coveted place for residential needs in the NCR. Rates across markets have risen due to the commencement of the metro rail. In Noida, the prime rentals stood at Rs 42 per sq ft per month, up by 35 per cent from last year.

The residential rental segment in Noida has seen unprecedented growth as a lot of high quality supply has been witnessed in the Noida residential market. The boom in the property sector has attracted a large numbers of new developers into the field.

This fierce competition for a chunk of the realty pie has pushed the price of land high, consequently raising the price of the final project and ultimately the rental values from the end user.

Rental apartments: Noida rental apartments are most in demand as they cater to the majority of the working class in the city. The rentals apartments which are available in various budgetary segments and specifications are the most sought after rental properties in Noida.

As Noida is popularly growing as a business destination, there has been a new trend seen for luxury apartments which are mostly made available on corporate leasing, for the top executives of the MNCs and corporates in Noida.

Rental homes: Rental homes in Noida are the latest entrant to have entered the market as the expat community in particular opts for rental homes which include villas, penthouses and condominiums.

Similarly, service apartments are proving to be the biggest priority for the traveling business class people who are finding the option of putting up at a service apartment more congenial in lieu of the monotony of a hotel room.

The prime residential areas in NOIDA are located in Sector 14, 15, 27, 28, 29 and 37. All these Sectors predominantly consist of plotted housing, while Sector 44 predominantly consists of Group housing. A survey on the residential rental trends in Noida has shown that rental variations stood in the range of 10-25 per cent for prime and grade A residential properties during the first quarter as against the same period last year.