Housing Prices at Noida Expressway Rise 66% in 5 Years
Housing prices along the Noida Expressway in Delhi-NCR have seen a remarkable 66% increase over the past five years, according to recent data by real estate consultant Anarock. The surge in property values reflects the growing demand for residential spaces in this prime location, driven by enhanced connectivity, infrastructure development, and increasing investments in both residential and commercial real estate.*
In the September 2024 quarter, the average housing price on Noida Expressway reached Rs 8,400 per square foot, a sharp rise from Rs 5,075 per square foot in 2019. This surge is part of a wider trend in the National Capital Region (NCR), where peripheral areas such as Sohna and Dwarka Expressway also experienced significant price increases. Sohna, for instance, saw a 43% rise in average prices, climbing to Rs 5,900 per square foot, while Dwarka Expressway witnessed an astounding 93% increase, reaching Rs 10,350 per square foot. The Noida-Greater Noida Expressway, a key residential hub, strikes a perfect balance between affordability and growth potential, making it an attractive destination for mid-segment buyers and investors, said Vishal Raheja, Founder and MD of InvestoXpert.com. Despite the price rise, Noida remains a competitive option compared to more expensive markets like Gurugram and central Delhi, with average property prices now standing at Rs 1.05 crore.
Raheja pointed out that the region’s price growth is expected to continue, with annual increases of 10-15%, bolstered by infrastructural developments like metro extensions, expressways, and the upcoming Jewar International Airport. These upgrades are expected to further enhance the area’s connectivity and accessibility, driving continued demand for housing. The Noida-Greater Noida Expressway has solidified its position as one of NCR’s most prominent luxury residential destinations in recent years. According to Salil Kumar, Director (Marketing & Business Management) at CRC Group, the region’s strategic location—close to Noida, Greater Noida, the Yamuna Expressway, and the forthcoming Noida Airport—has spurred massive interest from both buyers and investors, contributing to significant price hikes.
Sunil Sisodiya, Founder of Geetanjali Homestate, attributes the price appreciation along the Noida Expressway to ongoing infrastructure development and seamless connectivity to major hubs. These improvements have made the area an increasingly attractive option for both end-users and investors. The trend of rising property prices is not confined to Delhi-NCR. In Bengaluru, the peripheral location of Gunjur has witnessed a 69% increase in housing prices over the last five years, with the average price rising from Rs 5,030 per square foot to Rs 8,500 per square foot. Bhavesh Kothari, Founder & CEO of Property First, highlighted that improved connectivity, affordability, and availability of large land parcels are driving demand in Bengaluru’s peripheral areas, prompting developers to launch premium residential projects with luxury amenities.
The sharp rise in property prices in both Noida and Bengaluru’s peripheral areas underscores the growing appeal of these locations, which offer value-for-money options compared to more established, expensive regions. For investors, areas like Noida Expressway and Bengaluru’s Gunjur present significant opportunities for capital appreciation, with improving infrastructure and strategic positioning fueling the growth. Harinder Dhillon, Senior Vice President of Sales at BPTP, noted that investing in emerging hotspots like the Dwarka Expressway is now a well-calculated decision, supported by consistent growth and infrastructure development. As both Noida and Bengaluru continue to expand and modernise their infrastructure, these areas are set to remain strong performers in the real estate market.
