Five Residential Hotspots In Delhi-NCR
People follow jobs, and that is exactly true of the national capital region or NCR. For instance, multinationals setting up their plush corporate offices in Gurgaon and Noida are the reason why the two cities have turned into realty hotspots, too. However, that is not where it ends. There are several others spots suitable for investing if you are looking at property investments.
Greater Noida West
Also known as Noida Extension, Greater Noida West is a location offering many affordable homes and thus attracts many families from the middle-income group. An upcoming Metro network, which will enter deeper into the residential and commercial pockets, and the new Faridabad-Noida-Ghaziabad (FNG) Expressway is set to provide convenience for those living in Noida Extension. Proximity to employment hubs such as Techzone and Knowledge Park 5 and presence of IT, ITeS, BPO and KPO companies makes it an ideal location for working professionals.
There is a tremendous supply of properties with hundreds of under-construction projects and an equal number of ready-to-move-in units. Buyers can purchase one square foot (sqft) of a residential property for Rs 3,200. Houses are available as standard 1 and 2BHK apartments as well as spacious and lavish 3, 4, 5 and 6 BHK units, priced between Rs 18 lakh and Rs 18 crore.
Once an industrial town, Ghaziabad today is a residential hub with access to quality social amenities. The earnest efforts by the Ghaziabad Development Authority and the central government in the form of approved projects under ‘Housing for all’ scheme and new infrastructure projects have shaped this NCR town. There are many well-developed residential clusters like Sahibabad, Rajnagar Extension, Crossing Republik, Vaishali, Kaushambi and Indirapuram, which bejewel the city. The new Hindon Elevated Road connecting the National Highway-24, the FNG Expressway as well as two upcoming Metro routes joining the Delhi Metro network will improve accessibility for Ghaziabad residents.
There are about 143 under-construction properties and over 380 ready-to-move-in properties which available for an average price of Rs 3,300 per sqft. Just like Noida Extension, Ghaziabad, too, provides a variety of housing options ranging from affordable to luxury apartments in 1, 2, 3, 4,5 and 6 BHK configurations.
Noida-Greater Noida Expressway
Noida Expressway is more than just a road link between Delhi, Noida and Greater Noida. A coveted investment hotspot, it is dotted with corporate offices and commercial spaces which drive the realty demand in this corridor. This futuristic six-lane expressway houses plush hotels for transit accommodation, a number of small, medium and large industrial units, hospitals, schools as well as numerous shopping malls and recreational options.
Compared with Noida Extension, pricing is slightly on the higher side in Noida Expressway with the average capital value at Rs 5,400 per sqft. There are over 60 under-construction projects and over 80 properties which are ready for possession. A standard 1BHK apartment costs around Rs 32 lakh, 2BHK apartment costs around Rs 56 lakh whereas 3BHK apartment is priced Rs 1 crore. Luxury 4, 5 and 6BHK houses are also available priced between Rs 2 crore and Rs 5 crore.
Although Gurgaon seems to be an expensive housing destination, New Gurgaon, a micro-market located between Gurgaon and Manesar, has ample options for affordable properties. It includes sectors 88, 88A, 88B, 88D, 95A, 95B and 99A with apartments priced much lower than those in the high-end pockets of the Millennium City. Connectivity is provided by the Kundli-Palwal Expressway, the Dwarka Expressway and the National Highway - 8. The Indira Gandhi International Airport, which is only 31 km from the area, is an additional advantage for the residents.
With over 50 under-construction projects, over 50 ready-to-move-in projects and well-developed social infrastructure promises a complete lifestyle for buyers. The average property price in New Gurgaon is Rs 5,800 per sqft which is slightly lower than Gurgaon. Prices for contemporary apartments start at Rs 45 lakh for 1BHK layout, Rs 72 lakh for 2BHK layout and over Rs 3 crore for a 5BHK luxury home.
Also referred to as the Northern Peripheral Road, Dwarka Expressway is an attractive property hub for homebuyers where several big-ticket projects have come up in the past. The corridor has been developed to offer high-speed access and serve as a lifeline for commuters travelling between Delhi and Gurgaon for work. It boasts a robust transportation network and flourishing social infrastructure and commercial belts. There are plans to link this corridor with the Hindon Elevated Road and the IGI Airport which will make life easy for the residents.
Over 94 residential projects in construction stage while nearly 70 projects are available for possession. The average capital values are Rs 5,600 per sqft. Prices start from Rs 40 lakh for 1BHK apartment, Rs 71 lakh for 2BHK apartment and Rs 5 crore for a luxurious 6BHK apartment.