Housing prices in Gunjur, a suburb of Bengaluru, have surged by 69% over the past five years. In comparison, the Noida Expressway in Delhi-NCR witnessed a 66% increase. As reported by Anarock, average prices in Noida Expressway reached Rs 8,400 per square foot in the September 2024 quarter, up from Rs 5,075 in 2019.
In the NCR, the Sohna area experienced a 43% rise in prices, going from Rs 4,120 to Rs 5,900 per square foot. The prime area of New Gurugram saw a 59% increase, while Dwarka Expressway saw an astounding 93% jump, with prices climbing to Rs 10,350 per square foot from Rs 5,359.
Gunjur’s housing prices also climbed to Rs 8,500 per square foot, up from Rs 5,030. Noida-Greater Noida Expressway offers a great mix of affordability and potential growth, attracting both homebuyers and investors. While average property prices in Noida have reached Rs 1.05 crore, they remain competitive compared to Gurugram or central Delhi. The prices are expected to increase further by 10-15% due to improved connectivity and the upcoming Jewar International Airport.
Noida-Greater Noida Expressway has become a key luxury residential area. This growth has triggered significant investment in commercial properties, thanks to its strategic location near Noida, Greater Noida, and the Yamuna Expressway.
Developers are focusing on building premium residential projects in these areas, which include luxury amenities and green spaces. The developments in emerging hubs like Gunjur and Devanahalli have led to significant price jumps.
Angad Bedi, CMD of BCD Group, stated that residential prices in Bengaluru’s outskirts are climbing rapidly, often outpacing those in central areas. This trend has gained momentum since the pandemic. Harinder Dhillon, Senior VP of Sales at BPTP, said that investing in Dwarka Expressway is now a smart move due to steady growth and infrastructure improvements.