The Dwarka Expressway in the National Capital Region (NCR) has emerged as a frontrunner in real estate performance, showcasing a staggering 79% increase in property prices over the past five years. According to data analysed by property consultancy Anarock, this remarkable growth positions the Dwarka Expressway fourth among the top ten micro-markets for price appreciation. The average property price surged from Rs 5,359 per square foot in 2019 to over Rs 9,600 per square foot by mid-2024, a trend driven by enhanced connectivity, extensive infrastructure development, and a growing preference for suburban living.
In comparison, Bengaluru’s Bagaluru tops the list with a 90% increase in property prices, where values soared from Rs 4,300 per square foot in 2019 to approximately Rs 8,151 per square foot in H1 2024. This growth was bolstered by the introduction of around 17,065 new housing units, predominantly in the mid and premium segments. Following closely, Hyderabad’s Kokapet recorded an 89% increase, with prices climbing from Rs 4,750 to Rs 9,000 per square foot, largely fueled by a significant presence of ultra-luxury properties. Whitefield in Bengaluru also made an impressive showing with an 80% rise, highlighting a robust demand across the spectrum of urban housing.
The report indicates a broader trend of accelerated price growth in key markets, particularly post-pandemic. Among the top seven cities, Hyderabad experienced the most significant overall increase of 64%, while Bengaluru followed closely at 57%. Notably, Greater Noida West in NCR achieved the highest price appreciation of 129%, underscoring the dynamic shifts in demand and supply. This situation reflects changing buyer preferences towards suburban areas, driven by improved infrastructure and lifestyle aspirations.
