Infrastructure Upgrades Spark New Real Estate Hotspots Across NCR, from Dwarka to Yamuna Expressway

2024-11-14 02:26:56

Emerging Realty Hotspots in NCR: Sohna Road, Raj Nagar Extension, New Gurugram, and Meerut on the Rise

The National Capital Region (NCR) is seeing the rapid rise of new real estate micro-markets driven by enhanced infrastructure and connectivity, experts report.

While Gurugram, Noida, Faridabad, and Ghaziabad have traditionally led the NCR’s real estate scene, upgrades in infrastructure are now putting areas like Sohna, Raj Nagar Extension, New Gurugram, Dwarka Expressway, Yamuna Expressway, and Meerut in the spotlight as booming property hubs.

Experts highlight that improved accessibility and new infrastructure projects have accelerated urbanization in these areas, spurring new housing projects, retail spaces, and business districts.

According to Dharmendra Rao, a seasoned real estate broker, the growth in Gurugram’s micro-markets—especially along Dwarka Expressway, Sohna Road, and New Gurugram—is fueled by both infrastructure improvements and active development. Property values have risen significantly, with a 30% increase along Dwarka Expressway and up to 60% growth along the Gurugram-Sohna elevated road and the Sohna-Dausa stretch of the Delhi-Mumbai Expressway over recent years.

Residential Surge

A report by Cushman & Wakefield noted that Delhi-NCR saw 16,242 new residential units launched in the first nine months of 2024, marking a 121% increase compared to 2023. Around 88% of these launches occurred in Gurugram, particularly along Sohna Road, Dwarka Expressway, and New Gurugram. Popular sectors along the Dwarka Expressway, such as Sectors 82-85, have emerged as premium alternatives due to their easy access to the Cyber Hub and Golf Course Road.

In Ghaziabad, Raj Nagar Extension has evolved into a self-sustained area with affordable housing, benefiting from improved road networks and the Regional Rapid Transit System (RRTS) for seamless connectivity with Delhi and Meerut.

Property Prices Rising

Pankaj Kumar Jain, Director of KW Group, noted that metro connectivity, expressways, rapid rail, and other major infrastructure projects have led to significant property appreciation in Ghaziabad’s emerging micro-markets like Raj Nagar Extension and Greater Noida West. Average prices in Raj Nagar Extension have climbed to ₹6,000-₹7,000 per sq ft, showing around an 80% increase over the last five years.

Avneesh Sood, Director of Eros Group, and Saurab Saharan, MD of HCBS Developments, both emphasize that infrastructure upgrades in NCR have sparked demand among homebuyers and investors, particularly with proximity to upcoming projects like the Noida International Airport, which is set to boost the region’s real estate appeal.

With enhanced connectivity and robust infrastructure, NCR’s real estate landscape is transforming, creating new opportunities for homebuyers and investors alike.