Housing prices in Bengaluru's peripheral location Gunjur have appreciated by 69% over the last five years. Noida Expressway in Delhi-NCR, on the other hand, has seen 66% appreciation, according to Anarock.
Average housing prices in Noida Expressway were Rs 8,400 per sq ft in the September 2024 quarter versus Rs 5,075 per square feet in 2019, as per data from real estate consultant Ananrock.
NCR's peripheral area Sohna saw price growth of 43 per cent to Rs 5,900 per sq ft from Rs 4,120 per sq ft, while prime area New Gurugram witnessed a 59 per cent rise in the same period. Dwarka Expressway saw a significant 93 per cent jump in average housing prices to Rs 10,350 per sq ft from 5,359 per sq ft.
In Bengaluru’s peripheral location Gunjur, the housing prices have increased to Rs 8,500 per square feet from Rs 5,030 per square feet.
Housing brokerage firm InvestoXpert.com founder and MD Vishal Raheja said, “The Noida-Greater Noida Expressway strikes the perfect balance between affordability and growth potential, drawing mid-segment buyers and investors alike”.
While average property prices in Noida have increased to Rs 1.05 crore, the region still compares favourably in terms of pricing with Gurugram or central Delhi, he said.
"With enhanced connectivity through metro extensions, expressways, and the upcoming Jewar International Airport, the area is well positioned for further price appreciation of 10-15 per cent annually," Raheja observed.
Salil Kumar, Director (Marketing & Business Management) of CRC Group, averred that the
Noida-Greater Noida Expressway has been a prime residential destination since its inception, but it is only in the last few years that the region consolidated its position as one of NCR's most prominent luxury residential hubs.
This, in turn, led to a massive investment in the commercial segment, both office and retail spaces. One of the major factors is the Expressway's strategic location. Its proximity to Noida, Greater Noida and Yamuna Expressway, including the upcoming Noida Airport, has led to a massive interest in the region, resulting in a significant price hike," he said.
Sunil Sisodiya, founder, Geetanjali Homestate, said that price appreciation in the Noida-Greater Noida Expressway has been due to infrastructure development and seamless connectivity.
Bhavesh Kothari, founder & CEO of Property First, talking about the Bengaluru market, said, "Bengaluru's peripheral areas are becoming highly sought-after real estate destinations because of their improved connectivity, affordability, and expansive land parcels".
These factors are attracting developers to build premium residential projects in such areas, integrated with luxury amenities and green spaces, he added.
Such development has seen a sharp price appreciation in Bengaluru's upcoming real estate hubs such as Gunjur and Devanahalli, Kothari said.
Residential property prices in Bengaluru's peripheries is rising substantially and are even surpassing that of prime locations," said Angad Bedi, CMD BCD Group.
He noted that this trend gained much popularity, especially since the pandemic.
Harinder Dhillon, Senior Vice President, Sales, BPTP, said, "Investing in Dwarka Expressway is no longer a speculative venture, but rather it is a calculated move backed by consistent growth and infrastructure development".
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