Delhi ncr real estate: The real estate sector of Delhi-NCR is seeing tremendous boom. The biggest reason behind this boom is- strong and rapid infrastructure development. Large projects like Delhi-Mumbai Expressway, Dwarka Expressway, RRTS and metro expansion have not only improved connectivity, but have opened new real estate corridors, where the interest of house buyers and investors is constantly increasing.
Gurugram became investment hub
According to an Enaark report, property prices in Delhi-NCR have increased by up to 81% on an average in the last 5 years. Especially in the premium areas of Gurugram, this increase has reached 98%.
Sandeep Chillar, founder and chairman of the Landmark Group, states the reason for this, saying, “There have been tremendous changes in areas like Dwarka Expressway in Gurugram in the last few years. Wide roads, direct connection to expressway and reach of the metro have made these sectors a new market. People are now liking these new areas of Gurugram more than Delhi, as they are proving to be better in terms of infrastructure, convenient and investment.
In 2019, where the price of the property in New Gurugram was ₹ 5,400 per sqft, in 2024 it has reached ₹ 10,700 per sqft. That is, an increase of 98%, which makes it the most growing micromket of NCR.
Demand increased in affordable segment
MRG Group MD Rajat Goyal said that now the thinking of the house buyers has already changed a lot. People are not only looking for houses in the budget, but are looking for places where good connectivity, wide roads, metro facilities and safe environment.
Goyal says that the demand for mid-segment as well as luxury housing has increased in Dwarka Expressway and its surrounding sectors. After Kovid, there has been an understanding among the people how important the location of the house, the surrounding infrastructure and lifestyle facilities are.
Demand for office and retail also increased
Prakash Mehta, chairman and managing director of Oakus Group, says that the demand of commercial real estate, especially office and retail space, has seen a tremendous bounce in areas like New Gurugram, SPR and Dwarka Expressway. The old business centers are now getting smaller. In such a situation, companies are moving towards new areas, where there are better infrastructure and proof of the airport.
Jewelry became a big game changer after Noida
Noida-Greater Noida and Yamuna Expressway zones have also increased a big rapid demand for property due to infrastructure. The New Noida Project and Jewar Airport have changed the picture of the area. The Noida International Airport being built in Jewar can prove to be a game changer for the area.
Experts believe that international companies and investors will be attracted here after the airport is commissioned. According to a report by Colliers India, Jewelry has now become one of the fastest growing real estate micro markets. Here the prices of land have increased by more than 40% in the last 5 years.
CRC Group Director Marketing and Business Management, Salil Kumar says that the speed with which the infrastructure is developing in areas like Noida Expressway, Greater Noida and Jewar Airport Corridor has given new energy to the entire West UP Real Estate Market. Now this area has become a great option not only to live, but also for investment and rental.
Big bounce in these areas
- New Gurugram: Property prices rise up to 98%
- Golf Course Extension Road, Gurugram: increased by 95%
- Dwarka Expressway: 79% growth
- Noida Expressway: 69% increase
- Jewelry: Land prices increased by 40%
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