House prices around Noida Expressway in Delhi-NCR have seen an increase of 66 per cent in the last five years. On the other hand, in Gunjur, Bengaluru, prices increased by 69 percent. This information has been given by real estate consultant Anarock. According to Anarock data, the average housing price around Noida Expressway stood at Rs 8400 per sq ft in the September 2024 quarter, compared to Rs 5075 per sq ft in 2019.
How much did the prices increase in different areas?
In Sohna, on the outskirts of NCR, prices increased by 43 per cent from Rs 4,120 per sq ft to Rs 5,900 per sq ft. The average price of housing on Dwarka Expressway increased by a whopping 93 per cent. Here the price increased from Rs 5,359 per sq ft to Rs 10,350 per sq ft. Housing prices in Gunjur on the outskirts of Bengaluru have increased from Rs 5030 per sq ft to Rs 8500 per sq ft.
This is the opinion of experts
Vishal Raheja, founder and managing director, housing brokerage firm InvestoExpert.com, said, “The Noida-Greater Noida Expressway strikes the right balance between affordability and growth potential, which is attracting mid-range buyers and investors alike. ” Property prices in Noida have increased, but the area still offers competitive pricing compared to Gurugram or central Delhi, Raheja said, adding that there is increased connectivity through metro extensions, expressways and the upcoming Jewar International Airport. “With this, the region is likely to experience price growth of 10-15 per cent annually.”
Salil Kumar, Director (Marketing and Business Management), CRC Group, said that Noida-Greater Noida Expressway has always been a prime residential destination, but over the last few years, the area has transformed into one of the most prominent luxury residential hubs of NCR. Has strengthened its position as He said, “This has led to huge investment in the commercial segment, which includes both office and retail space. A key factor of the expressway is its strategic location. Its proximity to Noida, Greater Noida and Yamuna Expressway, which will also include the upcoming Noida Airport. “has created huge interest in the sector, leading to a huge increase in prices.”
Speaking about the Bengaluru market, Bhavesh Kothari, Founder and CEO, Property First, said, “The peripheral areas of Bengaluru are becoming highly sought-after real estate destinations due to their better connectivity, affordability and vast land parcels.” Kothari said the demand for such developments has led to a sharp rise in prices in Bengaluru’s upcoming real estate hubs like Gunjur and Devanahalli.