Noida Expressway
After Corona, there is an uneven rise in property prices across the country, but Noida has a different charm in NCR. Property prices are on fire in this city. Once upon a time, flats worth crores were sold in Gurugram. Now this has become a common thing in Noida. According to Anarock, house prices around the Noida Expressway in Delhi-NCR have seen a 66 per cent increase in the last five years. On the other hand, in Gunjur, Bengaluru, prices increased by 69 percent. According to data from real estate consultant Anarock, the average housing price around Noida Expressway stood at Rs 8,400 per sq ft in the September 2024 quarter, compared to Rs 5,075 per sq ft in 2019.
Price increased by 43 percent in Sohna
In Sohna on the outskirts of NCR, prices rose 43 per cent to Rs 5,900 per sq ft from Rs 4,120 per sq ft. The average price of housing on Dwarka Expressway increased by a significant 93 percent. Here the price increased from Rs 5,359 per sq ft to Rs 10,350 per sq ft. Housing prices in Gunjur on the outskirts of Bengaluru have increased from Rs 5,030 per sq ft to Rs 8,500 per sq ft. There has been a decline in overall demand. According to Anarock report, property sales in the National Capital Region (NCR) have declined by -6% year-on-year but prices have seen a huge jump of 30%.
Sales decreased due to increase in price
According to the report, house sales in 7 major cities of the country are expected to decline by four percent this year to about 4.6 lakh units. In terms of value, sales are likely to increase by 16 percent to Rs 5.68 lakh crore. According to real estate consultant Anarock, average house prices in seven major cities increased by 21 percent this year due to rising prices of land, labor and some construction raw materials. Apart from NCR, demand for property has fallen in Pune, Chennai, Kolkata and Hyderabad.
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