Noida Expressway Sees 66% Jump In Housing Prices Over 5 Years: Report

Salil Kumar, Director of CRC Group, pointed out that the Noida-Greater-Noida Expressway has emerged as a top luxury residential hub, sparking a rise in commercial investments

Gunjur's housing prices in Bengaluru increased from Rs 5,030 per sq ft to Rs 8,500 per sq ft

Source : PTI

Housing prices in Bengaluru's Gunjur, a peripheral area, have surged by 69 per cent over the past five years, while the Noida Expressway in Delhi-NCR saw a 66 per cent increase, according to Anarock data.

In the September 2024 quarter, average housing prices on Noida Expressway rose to Rs 8,400 per sq ft from Rs 5,075 per sq ft in 2019. The peripheral area of Sohna in NCR experienced a 43 per cent rise, with prices climbing to Rs 5,900 per sq ft from Rs 4,120 per sq ft. Meanwhile, prime New Gurugram saw a 59 per cent increase, and Dwarka Expressway saw a massive 93 per cent jump, with prices reaching Rs 10,350 per sq ft from Rs 5,359 per sq ft.

Gunjur's housing prices in Bengaluru increased from Rs 5,030 per sq ft to Rs 8,500 per sq ft. 

Vishal Raheja, Founder and MD of InvestoXpert.com, noted that the Noida-Greater Noida Expressway offers a balanced mix of affordability and growth potential, attracting mid-segment buyers and investors. Despite rising property prices, Noida remains competitively priced compared to Gurugram or central Delhi, 

"With enhanced connectivity through metro extensions, expressways, and the upcoming Jewar International Airport, the area is poised for further price appreciation of 10-15 per cent annually," Raheja added.

Salil Kumar, Director of CRC Group, pointed out that the Noida-Greater-Noida Expressway has emerged as a top luxury residential hub, sparking a rise in commercial investments. 

"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.

In Bengaluru, Bhavesh Kothari, founder of Property First, highlighted that the city's peripheral areas are gaining popularity due to improved connectivity, affordability, and expansive land. This has prompted developers to launch premium residential projects with luxury amenities. Kothari noted significant price appreciation in areas like Gunjur and Devanahalli, which are becoming key real estate hubs.