Record-Breaking Growth Near Airports The report indicates that property prices in airport-led micro-markets such as Yamuna Expressway, Panvel Region, North Bengaluru, and South Hyderabad have surged by 69%–90% for apartments between FY 2021 and FY 2025. During the same period, residential plot values in these corridors recorded even steeper growth, rising in the range of 84%–118%.

In comparison, the corresponding city-wide averages for these locations show apartment price growth of 45%–79%, while residential plot prices appreciated by 45%–93%. This clearly demonstrates that areas around airports have become investment hotspots.

Impact in Key Cities The report studies the airport-driven impact on property price trends from FY 2021 to FY 2025 in select key major cities and regions, including Bengaluru, Hyderabad, Navi Mumbai, and Noida & Greater Noida (including Yamuna Expressway). It captures the strong recovery and upcycle in residential markets in the post-pandemic years. The report highlights that property price growth in airport-led corridors has consistently outperformed city-wide averages for both apartments and residential plots.

Key Drivers of Growth Tanuj Shori, CEO & Founder, Square Yards, stated, “Airports are among the most influential enablers of economic growth, urban transformation, and real estate development. In India, cities anchored by major airports, such as Delhi, Mumbai, Bengaluru, and Hyderabad, have demonstrated sustained residential growth, driven by improved connectivity, increase in employment hubs, and large-scale infrastructure investment. This impact is even more visible in micro-markets located near airports.”

Shori further noted that areas like North Bengaluru and South Hyderabad, for example, have consistently recorded stronger property price appreciation than their regional peers. Even greenfield projects like Noida International Airport and Navi Mumbai International Airport are already driving residential activity well before operations begin.

Future Prospects Currently, according to the Airports Authority of India, India has 140 airports handling nearly 412 million passengers annually. In alignment with the national vision of ‘Viksit Bharat’, this figure is expected to rise to 300 airports serving nearly 3 billion passengers annually by 2047. Given these projections, all stakeholders in the residential market have a strategic opportunity to benefit from the next generation of globally connected, future-ready Indian cities.

Average Apartment Property Rates in Select Key Cities (FY25)

Average Residential Plot Property Rates in Select Key Cities (FY25)

Key Findings:

• Bengaluru: Apartment prices in North Bengaluru grew by 69% (Rs. 11,000-13,000 per sq.ft), compared to 48% in the rest of the city (Rs. 13,000-15,000 per sq.ft). For plots, North Bengaluru saw a 118% growth (Rs. 68,000-72,000 per sq.yd), while the rest of Bengaluru grew by 93% (Rs. 80,000-85,000 per sq.yd).
• Hyderabad: Apartment values in South Hyderabad rose by 74% (Rs. 6,000-8,000 per sq.ft), against 48% in other parts of Hyderabad (Rs. 9,000-11,000 per sq.ft). Plot prices in South Hyderabad increased by 84% (Rs. 55,000-60,000 per sq.yd), compared to 59% in the rest of the city (Rs. 75,000-80,000 per sq.yd).
• Navi Mumbai: Apartment prices in the Panvel region increased by 74% (Rs. 10,000-12,000 per sq.ft), while the rest of Navi Mumbai saw a 45% growth (Rs. 19,000-21,000 per sq.ft). Plot rates in Panvel recorded a solid 93% increase (Rs. 80,000-85,000 per sq.yd), whereas other parts of the city grew slower at 58% (Rs. 1,10,000-1,30,000 per sq.yd).
• Noida & Greater Noida: Apartment rates along the Yamuna Expressway corridor saw 90% growth (Rs. 7,000-9,000 per sq.ft), while the rest of Noida grew by 79% (Rs. 9,000-11,000 per sq.ft). Plot values on the Yamuna Expressway increased by 94% (Rs. 65,000-70,000 per sq.yd), compared to a slower pace of 45% in the rest of Noida (Rs. 90,000-1,10,000 per sq.yd).

This report highlights that airports are not just travel hubs but also powerful engines of economic and real estate development in their surrounding areas.

Also Read: Will Second airport boost Goa’s real estate?

The post Airport Micro-Markets See Steepest Property Price Surge appeared first on Square Feat India.

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

The post Property Prices Surge Significantly Along Yamuna Expressway appeared first on Square Feat India.

By Santosh Kumar

The foundation-laying ceremony of the Jewar International Airport by the Prime Minister heralds significant future economic activity in and around the airport. With an estimated cost of INR 34,000 Cr, the airport, once completed, will ease traffic at the IGI Airport, create a massive number of jobs for the local population, and give a major impetus to the property market in Noida, Greater Noida, and Yamuna Expressway.

These regions were previously speculator havens and needed significant impetus to attract end-user demand. For an area to become end-user-centric and liveable, an infrastructure project like the Jewar Airport can help kick-start more real estate developments, including housing, commercial, retail, and hospitality projects.

Interestingly, after the pandemic, the relatively affordable markets of Noida and Greater Noida had begun to see some demand uptick. Focus on Noida and Greater Noida increased manifold in the residential and commercial real estate segments. The airport will help push this demand even further.

Plotted Developments To Gain Momentum

The height restrictions for developments near airports and the newly-evolved homebuyer preferences post COVID-19 may combine to push up the viability of plotted developments around the Jewar Airport. In recent times, plots and independent homes have gained a lot of popularity in Delhi-NCR.

To illustrate – residential plots around the airport selling at INR 22,000 per sq. yard a year have seen prices increase to INR 30,000-32,000 per sq. yard by now, depending on the exact juxtaposition of the plot vis-à-vis the upcoming airport.

A Major Boost for the Region

If the construction progresses as per the schedule and Phase 1 completes by the second half of 2024, there will be significant ‘real’ benefits. Already, over the last year, commercial activity – particularly warehousing – saw increased momentum in and around the airport – also factoring in other mega projects in the vicinity, including the Film City.

Already, there is an uptick in office leasing in Noida. Various private institutions are now scouting for land in and around the airport. The Greater Noida Authority has boosted investments into the region by attracting big companies with various incentives.

While the future for real estate around Jewar Airport certainly looks bright, investors, end-users, and developers must continue to tread with caution. The arrival of a second international airport in NCR will have a positive impact on the real estate market in and around the region and the state of UP. However, investment gains expectations must be more realistic than speculative.

Over the short-to-mid-term, the area in and around the airport will undoubtedly witness significant development activity by players who hold suitable land banks there. Many players have been hoping to cash in on this mega project since it was announced several years ago and bought up large land parcels in the vicinity.

For these far-sighted developers, the time to come forward and weigh the best options is finally at hand. However, they will need to consider that the nearby areas, including Noida, Greater Noida, and Yamuna Expressway already have a lot of residential projects available.

As per ANAROCK data, the total available housing stock in Noida, Greater Noida, and Yamuna Expressway collectively stands at nearly 54,450 units (as on Q3 2021). This is 33% of the total stock in the entire NCR. Interestingly, back in 2019, the total available stock in the three areas was approx. 67,830 units. With demand rising in these cities after the pandemic, housing inventory declined by nearly 20% in this period.

Notable Future Trends

Once operational, the Jewar Airport will be a major game-changer for Noida and Greater Noida, and also the hitherto obscure property markets in the nearby hinterlands. Some of the most significant trends to watch for in the long-term include:

End-user Demand: Despite being more affordable than markets like Gurgaon and Delhi, Greater Noida and areas along Yamuna Expressway had been unable to position themselves as solid end-user markets due to lacklustre infrastructure facilities. The new airport will induce a massive infrastructure boost and make these areas more liveable and active. This will attract increasing interest from end-users in this region.

Greater Noida & Yamuna Expressway – New Affordable Options for First-time Homebuyers: With increased connectivity and several infrastructure upgrades on the anvil, these two regions will see significant real estate development in the times to come. These regions are more affordable than Gurgaon or Delhi, where prices are largely unaffordable for many. First-time budget-conscious homebuyers will have viable alternatives in these areas.

Commercial RE Uptick: The new airport will increase demand for housing, as well as commercial real estate like office and retail spaces. More and more office spaces will come up in this region as rentals there will be relatively lower than in Gurugram.

Moreover, COVID-19 came as a boon for the Noida office market, as demand for Grade A office space in the city was much higher than in Gurugram. To rein in costs during the pandemic, several corporates, start-ups, and other businesses saw Noida as a better alternative in 2020. Now, the upcoming Jewar international airport gives Noida an additional advantage.

As per ANAROCK research, the avg. monthly rentals for Grade A office spaces in Noida are anywhere between INR 50 – 80 per sq. ft. In Gurugram’s prime areas, they range between INR 85 –125 per sq. ft.  

Steady Future Capital Appreciation: Both Greater Noida and Yamuna Expressway historically aw high investor activity. While the areas always looked promising for end-users, their liveability quotient was a challenge. Many housing projects along the Expressway thus remained unoccupied and were tagged as ‘ghost towns.’ With the new airport drawing more end-users, the region will finally see steady capital appreciation based on actual demand, not speculation.

Tourism Boost in Mathura and Agra: The new airport will significantly boost tourism in Mathura and Agra. These cities are already well-connected with the national capital via the Yamuna Expressway, and the airport will massively increase tourist footfalls. This, in turn, will help these cities’ overall real estate markets in the times to come. The airport will also act as a catalyst for Western UP’s real estate market.

With the Jewar Airport finally set to take off, we can reasonably expect significant activity to commence over the next 2-4 years.

Santhosh Kumar, is the Vice Chairman – ANAROCK Group, opinions expressed in the above article are that of the author.

Also Read: Listed Developers Are Selling more Homes

The post Jewar AirPort will give a major impetus to the property market in Noida, Greater Noida, and Yamuna Expressway appeared first on Square Feat India.