Geetanjali Homestate has released a new report showing substantial increases in property prices along the Yamuna Expressway over the past five years. According to the report, apartment prices have risen by 170%, while land prices have increased by 450%, highlighting the area’s growing appeal as a key investment destination in the Delhi-NCR region.
Year-on-Year Price Trends
The report details the following trends:
- 2019: Apartment prices ranged between Rs 2,800 and 3,000 per square foot, and land prices were between Rs 1,200 and 1,300 per square foot.
- 2020: Despite the COVID-19 pandemic, apartment prices rose slightly to Rs 3,200 – 3,300 per square foot, while land prices remained stable at Rs 1,250 – 1,300 per square foot.
- 2021: The real estate market began gaining traction with apartment prices increasing to Rs 3,400 – 3,600 per square foot. Land prices also saw a rise to Rs 2,000 – 2,200 per square foot.
- 2022: Improved infrastructure and rising demand pushed apartment prices up to Rs 3,600 – 3,800 per square foot. Land prices nearly doubled, reaching Rs 3,400 – 3,600 per square foot.
- 2023: The market saw a significant jump with apartment prices reaching Rs 4,900 – 5,100 per square foot and land prices climbing to Rs 5,900 – 6,100 per square foot. This increase was driven by major developments such as the upcoming Jewar Airport and expansion of the Noida International Airport.
- 2024: Apartment prices have now reached Rs 7,900 – 8,100 per square foot, and land prices are between Rs 6,900 and 7,100 per square foot.
Overall Growth
The report indicates a 170% increase in apartment prices and a 450% rise in land prices over the past five years. Builder floor prices have also seen a notable rise of 35.6% over the last year and 43.5% over the past three years.
Expert Commentary
Sunil Sisodiya, Founder of Geetanjali Homestate, attributed the price surge to the strategic location of the Yamuna Expressway, enhanced connectivity from upcoming infrastructure projects, and increased demand for residential and commercial spaces. He emphasized that the region’s appeal, combined with ongoing developments, makes it a valuable investment opportunity.
Market Outlook
The report highlights the Yamuna Expressway’s growing importance in the Delhi-NCR real estate market. As infrastructure projects advance and the area continues to develop, it is expected to remain a key focus for both residential and commercial property investors.
Also Read: Delhi-NCR Real Estate Market Sees Record-Breaking Sales in 2024
