In an unexpected trend, peripheral locations like Pune’s Wagholi have outperformed prime areas such as Wakad in residential price growth over the past six years. ANAROCK’s latest research reveals that Wagholi recorded a 37% price increase, while Wakad saw a 27% rise. Improved connectivity, infrastructure development, and enhanced liveability have driven the surge in Wagholi, highlighting the growth potential in peripheral areas.
Similarly, other cities reflect this pattern. In Bengaluru, Gunjur experienced a 69% price jump from ₹5,030 per sq. ft. in 2019 to ₹8,500 per sq. ft. in Q3 2024, outpacing prime Thannisandra Main Road’s 62% growth. NCR’s Noida Expressway recorded a 66% rise, contrasting with Raj Nagar Extension’s 55% increase. However, exceptions exist, such as Delhi’s Dwarka Expressway, a prime area with a significant 93% rise, demonstrating that prime locations can still lead under the right conditions.
Peripheral growth stems from untapped price appreciation potential, connectivity enhancements, and urban development. These areas offer affordability alongside improved amenities, driving demand among homebuyers. Meanwhile, prime locations, with earlier price escalations, often exhibit slower growth, consolidating their value.
This trend underlines the evolving dynamics of India’s real estate market, where outlying areas increasingly rival prime locations in appeal and investment potential.
