Written by: Harinder Dhillon, National Sales Head, BPTP
Since the pandemic, the real estate paradigm has changed drastically across India. India’s realty market, especially in Tier-1 cities, has boosted property transactions substantially in the last few years. While many homebuyers are inclining towards more spacious and affluent residential options, most seek well-connected homes that offer proximity to the workplace and are surrounded by good social infrastructure.
The role of connectivity in urban development has been a contributing factor in determining the prices and demand of properties worldwide. The ongoing infrastructure development, whether highways, expressways, or elevated corridors, brings new hype to the real estate sector. According to ANAROCK’s Annual Report 2024, the sales of luxury homes in Gurugram soared by over 66%. Such a surge pushed the overall residential property sale value in Delhi NCR to over Rs. 1 lac crore threshold.
After the announcement of Jewar Airport and the opening of Dwarka Expressway, prices in micro markets like Noida and Gurugram have seen a substantial boost in property demand. In fact, Gurugram has started to witness the launch of several new projects along the Dwarka Expressway.
Dwarka Expressway has been a prominent attraction for homebuyers searching for residential properties in Gurugram. According to ANAROCK’s report, property prices along Dwarka Expressway have appreciated by around 79% in the last 5 years. Since its launch, the stretch has allowed easy access to parts of Delhi, Manesar, and several significant business and commercial hubs in Gurugram. Furthermore, the expressway has become home to numerous prominent projects by renowned developers. Additionally, the ribbon development along Dwarka Expressway, such as, schools, hospitals, malls, and other social infrastructures, has made sectors along Dwarka Expressway a preferred choice for homebuyers.
Metro connectivity also significantly impacts real estate in metropolitan cities. The announcement of Gurugram Metro in 2024, with a spur on Dwarka Expressway, brought prices of real estate on the stretch up by 15% alone.
Coming to Noida, Noida International Airport, formally known as Jewar Airport, has been a game-changer for Gautam Buddha Nagar’s real estate spectrum. Since its announcement, numerous sectors that previously had minimal traction have become hot real estate markets. According to a report by Colliers, property prices in the region have increased by 40% and are expected to surge further by 50% by 2030.
Considering the changing paradigm of real estate demand in NCR, it is safe to say that homeowners’ preferences are shifting towards connectivity and robust infrastructure, and connectivity is playing a pivotal role in property trends across the national capital.
Since the COVID pandemic ended, aspiring homeowners have begun to consider commute time while deciding where to live in NCR. Areas close to business hubs in Gurugram, Faridabad, and Noida are seeing a boost in demand for residential properties, a clear trend that is encouraging developers to focus on markets with better connectivity and proximity to commercial and social hubs.
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