NCR Real Estate Boom: A Sign of Economic Resilience and Infrastructure Growth

The weighted average prices of new residential projects in Gurugram, Noida, Greater Noida, and Ghaziabad have doubled in the last five years, driven by infrastructural developments and strong demand. Experts highlight the region's robust appeal, with returns from real estate surpassing other investment tools, despite elevated price points.

In the bustling NCR region, the real estate market is witnessing unprecedented growth, with prices for new residential projects more than doubling over the past five years, according to PropEquity data. Noida led the surge at 152% increase, raising rates from Rs 5,910 per sq ft in 2019 to Rs 14,946 by September 2024.

Gurugram and Greater Noida followed suit, posting hikes of 135% and 121%, respectively. The transformation is attributed to major infrastructural advancements, including the Noida International Airport and Dwarka Expressway, which have galvanized real estate interest and investment across the National Capital Region.

Industry leaders like Samir Jasuja and Shiwang Suraj express optimism over the region's appeal, citing a strong return on investment in real estate. While property prices continue to climb, experts foresee either stabilization or modest growth in the foreseeable future as the NCR solidifies its status as a real estate hotspot.

(With inputs from agencies.)