New Delhi: Noida Expressway and Bengaluru's peripheral location Gunjur have emerged as hotspots for real estate appreciation, with prices skyrocketing in recent years. According to a report by the ANAROCK research, Noida Expressway, a vital artery linking Noida and Greater Noida, has seen residential property prices surge dramatically over the past few years. Since 2019, there has been an impressive 66% rise, with prices climbing from Rs 5,075 per square foot to a shocking Rs 8,400 per square foot as of the third quarter of 2024, making it a hot spot for real estate investment.
Similarly, Gunjur, a developing suburb of Bengaluru, has also experienced a 69% surge in residential property prices during the same period. The average price has climbed from Rs 5,030 per square foot in 2019 to Rs 8,500 per square foot in Q3 2024. Price growth has been witnessed in other areas as well such as Delhi’s NCR’s Sohna where the price has risen from Rs 4120 per sq ft in 2019 to Rs 5,900 per sq ft in quarter third of 2024 indicating a likely growth of 43%.
Similar growth can be seen in the peripheral area of Devanahalli, where prices increased by 49% over the last six years, rising from Rs 4,982 per sq. ft. in 2019 to Rs 7,400 per sq.
ft. in Q3 2024. The report also mentioned several key factors that are causing the sudden price surge.
Improved connectivity, including metro extensions and an expanded expressway network coupled with the development of commercial hubs and IT parks, has attr.
