Booming Real Estate: Peripheral Zones Outshine Prime Areas

The real estate market in Indian cities like Bengaluru and Delhi-NCR shows a substantial rise in housing prices in peripheral areas over five years. Improved connectivity, infrastructure development, and strategic location are driving growth in suburbs, outperforming traditional urban centers in price appreciation.

The housing market in Bengaluru's suburb Gunjur has witnessed a surge of 69% over five years, with similar trends in Delhi-NCR's Noida Expressway seeing a 66% rise, according to data from real estate consultant Anarock.

Anarock's analysis reveals average housing prices in Noida Expressway rose from Rs 5,075 per sq ft in 2019 to Rs 8,400 per sq ft in the September 2024 quarter. Sohna, another NCR periphery, posted a 43% price hike, while New Gurugram and Dwarka Expressway climbed by 59% and 93%, respectively.

Experts attribute these increases to factors like improved infrastructure and connectivity. The Noida-Greater Noida Expressway, for example, benefits from metro expansions and the upcoming Jewar International Airport. These sub-market growths emphasize developers' focus on infrastructure as a catalyst for property appreciation.

(With inputs from agencies.)