Flat prices surge 170% on NCR's Yamuna Expressway in 5 years
ECONOMY & POLICY

Flat prices surge 170% on NCR's Yamuna Expressway in 5 years

Apartment prices along the Yamuna Expressway in the Delhi-NCR region have surged by 170%, while land prices have increased by an astonishing 450%, according to a report by property consulting firm GeetanjaliHomestate. In 2020, despite the onset of the COVID-19 pandemic, there was a slight appreciation in prices, with apartments averaging between Rs 3,200 - 3,300 per sq ft, and land prices remained stable at Rs 1,250 - 1,300 per sq ft.

The real estate market in the area began gaining momentum in 2021, with the return to normalcy and increased interest in suburban properties. Apartment prices rose to Rs 3,400 - 3,600 per sq ft, while land prices saw a notable increase to Rs 2,000 - 2,200 per sq ft. By 2022, improved infrastructure and the growing appeal of the Yamuna Expressway as a prime location drove further increases, with apartment prices reaching Rs 3,600 - 3,800 per sq ft and land prices nearly doubling to Rs 3,400 - 3,600 per sq ft.

By 2023, apartment prices had jumped to Rs 4,900 - 5,100 per sq ft, and land prices soared to Rs 5,900 - 6,100 per sq ft. This rise was largely attributed to key developments such as the upcoming Jewar Airport, the expansion of the Noida International Airport, and enhanced connectivity through the Delhi-Mumbai Industrial Corridor (DMIC). As of 2024, the report highlighted that apartment prices had reached an average of Rs 7,900 - 8,100 per sq ft, while land prices now average between Rs 6,900 - 7,100 per sq ft, reflecting a 170% increase in apartment prices and a 450% growth in land prices over the past five years.

Additionally, builder floor prices have shown significant growth, with a 35.6% rise in the past year and a 43.5% increase over the last three years. Sunil Sisodiya, Founder of GeetanjaliHomestate, attributed the remarkable price surge along the Yamuna Expressway to factors such as its strategic location, the development of Jewar Airport, and other infrastructural improvements, which have enhanced the area's connectivity and appeal. Sisodiya noted that the rising demand for residential and commercial spaces, driven by an increasing preference for suburban living, has played a major role in driving property prices to new heights, making the Yamuna Expressway a rapidly emerging real estate hotspot. The report further emphasised that the preference for spacious living, fuelled by remote work culture and the desire for a better quality of life, has been crucial in boosting demand for properties in the area.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Apartment prices along the Yamuna Expressway in the Delhi-NCR region have surged by 170%, while land prices have increased by an astonishing 450%, according to a report by property consulting firm GeetanjaliHomestate. In 2020, despite the onset of the COVID-19 pandemic, there was a slight appreciation in prices, with apartments averaging between Rs 3,200 - 3,300 per sq ft, and land prices remained stable at Rs 1,250 - 1,300 per sq ft. The real estate market in the area began gaining momentum in 2021, with the return to normalcy and increased interest in suburban properties. Apartment prices rose to Rs 3,400 - 3,600 per sq ft, while land prices saw a notable increase to Rs 2,000 - 2,200 per sq ft. By 2022, improved infrastructure and the growing appeal of the Yamuna Expressway as a prime location drove further increases, with apartment prices reaching Rs 3,600 - 3,800 per sq ft and land prices nearly doubling to Rs 3,400 - 3,600 per sq ft. By 2023, apartment prices had jumped to Rs 4,900 - 5,100 per sq ft, and land prices soared to Rs 5,900 - 6,100 per sq ft. This rise was largely attributed to key developments such as the upcoming Jewar Airport, the expansion of the Noida International Airport, and enhanced connectivity through the Delhi-Mumbai Industrial Corridor (DMIC). As of 2024, the report highlighted that apartment prices had reached an average of Rs 7,900 - 8,100 per sq ft, while land prices now average between Rs 6,900 - 7,100 per sq ft, reflecting a 170% increase in apartment prices and a 450% growth in land prices over the past five years. Additionally, builder floor prices have shown significant growth, with a 35.6% rise in the past year and a 43.5% increase over the last three years. Sunil Sisodiya, Founder of GeetanjaliHomestate, attributed the remarkable price surge along the Yamuna Expressway to factors such as its strategic location, the development of Jewar Airport, and other infrastructural improvements, which have enhanced the area's connectivity and appeal. Sisodiya noted that the rising demand for residential and commercial spaces, driven by an increasing preference for suburban living, has played a major role in driving property prices to new heights, making the Yamuna Expressway a rapidly emerging real estate hotspot. The report further emphasised that the preference for spacious living, fuelled by remote work culture and the desire for a better quality of life, has been crucial in boosting demand for properties in the area.

Next Story
Infrastructure Energy

Gujarat Powers Ahead with Solar Energy

Gujarat is emerging as a leader in India’s solar energy sector, with an installed capacity of 14.7 GW, making it the second-highest solar capacity state in the country. The state's total renewable energy capacity stands at 27.8 GW, and ambitious plans aim to add 31.9 GW of solar-wind hybrid projects. These details were shared by Arun Mahesh Babu, Managing Director of Uttar Gujarat Vij Company Limited (UGVCL) and Gujarat Power Corporation Limited (GPCL). Babu highlighted Gujarat’s solar and wind energy projects, which are instrumental in helping India meet its national target of 500 GW of ..

Next Story
Infrastructure Energy

UK Shuts Last Coal Plant as India Maintains Coal in Energy Mix

As the UK officially closed its last coal power plant signaling its exit from coal-based energy, policy experts in India emphasized that coal will remain part of India's energy mix for the foreseeable future. While developed nations like the UK are moving towards coal-free energy systems by 2040, India faces unique challenges as a developing country with substantial energy demands. The UK's closure of its last coal plant marks a significant moment in energy history, as the country had been one of the pioneers of coal power since 1882. According to global energy think tank Ember, more than a th..

Next Story
Infrastructure Urban

NCLAT Clears Supertech to Resume Work on Doon Square in Dehradun

The National Company Law Appellate Tribunal (NCLAT) has granted approval for Supertech to resume construction of its Doon Square project in Dehradun. This decision follows the submission by Supertech that the lender, co-developer, and homebuyers had all accepted its proposal to complete the stalled project. The approval paves the way for the project’s completion within 515 days, or just over one year and four months. Out of the 750 planned units, only 150 studio apartments have been delivered, with the remaining awaiting completion. Supertech’s proposal, submitted to NCLAT, was accepted by..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000