Infrastructure will continue to drive NCR’s real estate market, with new transit projects enhancing the appeal of emerging hotspots.
With an array of infrastructure projects transforming the National Capital Region (NCR), areas like Dwarka, Dwarka Expressway, and the Yamuna Expressway are rapidly emerging as prime real estate hotspots. According to JLL’s Delhi-NCR Residential Market Update H1 2024, NCR has led the luxury residential launch segment in India, driven by enhanced connectivity and strategic investments in these locations. This infrastructure wave is elevating both residential and commercial markets, drawing investors and homeowners seeking dynamic, accessible lifestyles.
Report Highlights: A Catalyst for Growth
JLL’s report underscores the crucial role of infrastructure in driving NCR’s property boom. Significant developments, such as new expressways and extended metro links, have dramatically increased demand and property values in key corridors. The report highlights how the Dwarka Expressway has become particularly appealing for urban dwellers and investors, thanks to its reduced commute times to Delhi’s central business districts.
Meanwhile, the Yamuna Expressway has gained popularity as a prime investment destination, boosted by its proximity to major economic zones and the ongoing construction of the Noida International Airport. Similarly, the Delhi-Mumbai Expressway is expected to enhance real estate values along its route, further integrating NCR’s growth with broader national corridors, making it a strategic area for future development.
Industry Leaders Back Transit-Oriented Growth
Developers are increasingly focusing on transit-oriented projects. Improved connectivity has not only elevated property values but has also set a benchmark for upcoming projects. The transit-oriented development has expanded NCR’s real estate from commuter hubs to lifestyle centers, with buyers drawn to areas offering easy access to employment hubs and urban amenities.
Read More: Bhiwadi: Emerging real estate hotspot with strategic connectivity
Beyond Connectivity: Creating Self-Sufficient Lifestyle Hubs
The report reveals that new infrastructure isn’t only reducing travel times; it’s fostering self-sufficient, sustainable communities. Developers are creating integrated housing projects with in-built amenities like shopping complexes, schools, and healthcare centers.
Manish Jaiswal, Group COO, Eldeco Group, says, “With the rising demand for luxury living in Delhi-NCR, particularly in Gurgaon and Noida, developers are increasingly prioritizing premium residential projects. The luxury segment’s growth in H1 2024 highlights a robust demand among discerning buyers looking for homes that offer exclusivity, high-end amenities, and exceptional quality. At Eldeco, we recognize that Gurgaon and Noida have evolved into prime markets for upscale real estate, driven by buyers’ desire for a sophisticated lifestyle and smart investment. Developers, including us, are keenly focused on meeting this demand by creating thoughtfully-designed luxury spaces that resonate with today’s aspirational homeowners.”
Market Trends: Demand and Value Surge
The Dwarka Expressway has seen a marked rise in property values, with JLL’s report noting over 30% growth in residential prices in the last year, due to both improved infrastructure and emerging commercial zones that create local employment opportunities. Similarly, the Yamuna Expressway has benefited from the Noida International Airport’s proximity, leading to a surge in residential and commercial developments.
Santosh Agarwal, CFO and Executive Director, Alphacorp Development Pvt Ltd, says, “The swift transformation of the Gurugram real estate market highlights a burgeoning demand for luxury properties that integrate lifestyle amenities with desirable locations. At Alphacorp, we interpret this trend as indicative of the city’s increasing preference for high-quality, luxury living alternatives. Recent project launches mirror the refined tastes of the city, with buyers pursuing residences that offer exclusivity, comfort, and convenience. This demand not only emphasizes Gurugram’s status as a luxury destination but also solidifies the city’s appeal as a preferred option for investment in premium residential properties, aligning seamlessly with Alphacorp’s dedication to excellence in the real estate sector.”
Yamuna Expressway’s Real Estate Renaissance
As the Noida International Airport nears completion, the Yamuna Expressway is experiencing a renaissance, with developers eyeing this corridor as a strategic investment zone.
Yash Garg, Director, M3M Noida, says, “Noida has rapidly evolved into a premier real estate destination, with luxury properties witnessing unparalleled demand. Over the past five years, property prices in Noida and Greater Noida have nearly doubled, underscoring the region’s remarkable growth and immense investment potential. Bolstered by transformative infrastructure projects like the upcoming Jewar Airport, Noida is steadily emerging as a preferred residential and commercial hub in the NCR. At M3M India, we are committed to contributing to this dynamic market by delivering luxury projects that redefine living standards while introducing some of the region’s most iconic commercial hubs.”
Balancing Growth with Sustainability
Though infrastructure advances bring significant benefits, experts warn of potential issues without proper urban planning. Rapid expansion could lead to congestion and environmental challenges.
Future Outlook: Shaping NCR’s Real Estate Skyline
Infrastructure will, thus, continue to drive NCR’s real estate market, with new transit projects enhancing the appeal of emerging hotspots. For investors and homebuyers, areas like Dwarka Expressway and Yamuna Expressway present lucrative opportunities aligned with India’s urban growth trajectory. As these corridors rise, they offer not just connectivity but promise vibrant, self-sufficient communities for India’s expanding urban populace.
