According to data from real estate consultant Anarock, average home prices in Noida Expressway rose from Rs 5,075 per sq ft in 2019 to Rs 8,400 per sq ft in the September 2024 quarter.
Real estate trends: Over the past five years, the real estate market in major Indian cities, Delhi-NCR and Bengaluru, has seen a significant increase in home prices in peripheral areas. This trend is attributed to better connectivity, infrastructure development and the strategic location of these suburbs.
Development in these areas has outpaced traditional urban centres in terms of price growth. As infrastructure projects continue to improve connectivity, more and more home buyers are looking at suburban areas as a viable option for investment and living.
Experts believe that the ongoing expansion of metro lines and road networks has played a key role in making these peripheral areas more accessible. Additionally, the availability of land for development in these locations provides builders with opportunities to create modern housing projects, further attracting potential buyers.
According to data from real estate consultant Anarock, average housing prices in Noida Expressway increased from Rs 5,075 per sq ft in 2019 to Rs 8,400 per sq ft in the September 2024 quarter. Sohna, a peripheral area of NCR, saw a 43% increase to Rs 5,900 per sq ft from Rs 4,120 per sq ft, while New Gurugram saw a 59% increase in housing prices.
Dwarka Expressway saw a significant increase of 93%, with average prices rising from Rs 5,359 per sq ft to Rs 10,350 per sq ft. Despite average property prices in Noida reaching Rs 1.05 crore, the region remains competitively priced compared to Gurugram or central Delhi.
The Noida-Greater Noida Expressway is particularly advantageous due to the ongoing metro extension and the upcoming Jewar International Airport. These developments underscore the emphasis developers are placing on infrastructure as the main driver of property value appreciation.
Vishal Raheja, Founder and MD, InvestoExpert.com, said, “The Noida-Greater Noida Expressway strikes the perfect balance between affordability and growth potential, attracting mid-range buyers and investors alike. With enhanced connectivity via the metro extension, the expressway and the upcoming Jewar International Airport, the region is expected to witness further price appreciation of 10-15 per cent annually.”
In recent years, the Noida-Greater Noida Expressway has emerged as a major luxury residential area in the NCR region.
This development has attracted substantial investment in commercial properties, such as office and retail spaces. The strategic location of the expressway, its proximity to Noida, Greater Noida, Yamuna Expressway and the upcoming Noida airport have generated significant interest in the area and caused an increase in property prices.
The infrastructure development and excellent connectivity of the Noida-Greater Noida Expressway have contributed to its price increase.
