Flats Tripled in Prices and Plot Rates Went Up 5 Times Along This NCR Expressway: Report

While property rates in Delhi NCR have gone through the roof there are some areas where the land rates as well as apartment prices have boomed like never before. One such area is the land along the Yamuna Expressway in Noida.

Buying a plot of land or a flat along the Yamuna Expressway in Noida is no longer affordable. After the pandemic, while the prices of flats along the Yamuna Expressway have increased by 170 percent, prices of land have become surged by up to 470 percent. These shocking facts have come to light in a report by property consultancy firm Geetanjali Homestate.

The increasing interest in suburban property since 2021 has made land along the Yamuna Expressway expensive. Even when the real estate market was in a slump in 2020 after the pandemic, the prices of properties located around the Yamuna Expressway kept rising. Apartment prices at that time were between Rs 3,200 to Rs 3,300 per square foot and land prices were between Rs 1,250 to 1,300 per square foot.

After 2021, apartment prices became Rs 3,400 to Rs 3,600 per square foot and land prices also surged drastically to Rs 2,000-2,200 per square foot. This trend did not stop in 2022. During that time, apartment prices rose to Rs 3,600-3,800 per square foot and land prices almost doubled to Rs 3,400-3,600 per square foot.

The real estate market touched new heights in 2023. The average prices of apartments rose to Rs 4,900 to Rs 5,100 per square foot, while land prices skyrocketed to Rs 5,900 to Rs 6,100 per square foot. The main reason behind this is the construction of the Jewar Airport and better connectivity of the Delhi-Mumbai Industrial Corridor (DMIC).

In 2024, the rates along the Yamuna Expressway broke all barriers. The rates of apartments here have reached an average of Rs 7,900 to Rs 8,100 per square foot and the price of land has reached Rs 6,900 to Rs 7,100 per square foot. The staggering increase of 170 percent in apartment prices and 450 percent in land prices in the last five years has made the real estate here a golden goose for investors.

Whether it is because of the development of the Jewar airport or any other government project, every property dealer along the Yamuna Expressway has increased their prices. This is why the real estate market in this area is attracting investors. The property prices in this area are hitting new records every day.