Courtesy: propertyhome.in
The real estate market in Delhi NCR is on the threshold of significant expansion with emerging trends of high-end residential and commercial properties. Such evolving dynamics have reshaped the landscape for developers, investors, and the end-users alike. As per the findings by real estate consultancy firm Star Estate, the demand for properties is projected to grow exponentially in 2024-2025, with residential properties in Noida, Gurugram, and along the Yamuna Expressway leading the charge as top investment choices.
As per its findings around 58% of real estate investors plan to make investments in these locations within the next 3-5 months. Signalling a significant uptick in demand, this growing trend is set to gain pace in the coming quarters. Sharing his insight on the market's growth, Mr. Vijay Jain, MD, Star Estate said, "Noida and Gurugram are the most preferred locations for real estate investment in Delhi-NCR. They are preferred by the property buyers seeking high returns and quality living. The investors who choose these areas are likely to witness substantial appreciation of around 30% to 45% YoY growth in property values over the next couple of years."
Already these cities have witnessed around 45% price hike in property rates in the current year especially within the premium home segment. Such strong prospects further reinforces the appeal of these prime locations.
Mr. Jain emphasised the significance of these areas by highlighting the fact that most of the buyers in these cities look for mid to high end residential properties. "At Star Estate, we are witnessing a clear shift towards luxury real estate asset. We have experienced recently that nearly 50% of prospective buyers are focusing on this segment," he said.
According to Mr. Jain, the buyers today are not just looking for homes, they are seeking elevated living spaces. "The buyers prefer homes that offer comfort, luxury, and an enhanced lifestyle and so the premium home is growing," he noted. The key infrastructure developments in these locations have bolstered investors confidence.
The ongoing transformation of the Delhi-NCR real estate market is equally indicative of broader trends in urban living. "With the market continuing its upward trajectory, the emphasis on luxury, connectivity, and lifestyle amenities is fast becoming increasingly important to both the investors and the end-users," said Mr. Jain adding that these trends obviously provide valuable insights for the stakeholders.
Among these locations, Yamuna Expressway, in particular is rapidly becoming the new frontier for real estate investment. "With major projects like the Noida International Airport on the horizon, the region is poised for double digit appreciation in property values. The developments here are not just about infrastructure, they equally represent a long-term vision for growth and prosperity. For the investors seeking strong returns, Yamuna Expressway is an ideal destination," commented Mr. Jain.
Several key infrastructure projects along the Yamuna Expressway are set to further enhance the region's appeal. "As the upcoming Noida International Airport is expected to become operational by April 2024, we have witnessed a surge in property inquiries," added Mr. Jain.
"While Noida and Gurugram have emerged as epicenter of real estate growth, Yamuna Expressway is shaping the future of the region's real estate landscape in the coming years," concluded Mr. Jain.
As per Star Estate findings, the rising interest of the buyers is in 3BHK and even the larger luxury apartments which reflects the evolving lifestyle needs of homebuyers. With a growing emphasis on home offices and multifunctional spaces, this preference for spacious, multifunctional homes is particularly strong in Noida and Yamuna Expressway property markets, which have emerged as preferred destinations for those seeking both convenience and luxury. Gurugram bodes well terms of long-term investment prospects. Thus, the real estate landscape in Delhi-NCR in a nutshell, set to offer unparalleled opportunities for the astute investors.