How to buy your home in Delhi-NCR, prices have increased by 450%
If you are also planning to buy a house in Delhi NCR, then this news may come as a surprise to you. In fact, land prices in Delhi NCR are sky-high and it is not that property prices have stagnated. Rates are increasing daily. Especially in some areas, flat and plot prices are sky-high. One such area is Noida. After the Corona epidemic, while flat prices along the Yamuna Expressway have increased by 170 percent, land prices have become 450 percent more expensive. In such a situation, property seekers have started wondering how to buy property in Delhi NCR…
Actually, buying a plot or a flat along the Yamuna Expressway in Noida is no longer within everyone’s reach. Property prices here are increasing day by day. This shocking revelation was made in a report by real estate consultancy GitanjaliHomestate. Let us know how much the rates of 2-3 BHKs have increased due to this inflation…
Prices rose after Corona
Land prices along the Yamuna Expressway are continuously soaring. The increasing interest in properties in big cities since 2021 has made them shine quickly. Even when the real estate market crashed in 2020 following the Covid-19 pandemic, property prices located around the Yamuna Expressway kept rising instead of falling. Apartment prices at that time were between Rs 3,200 and Rs 3,300 per square foot and land prices between Rs 1,250 and Rs 1,300 per square foot.
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Prices thus increased.
After 2021, apartment prices reached Rs 3,400-3,600 per sq ft and land prices also rose sharply to Rs 2,000-2,200 per sq ft. This sequence will not stop in the year 2022. Then, apartment prices reached Rs 3,600-3,800 per sq ft and land prices almost doubled to Rs 3,400-3,600 per sq ft.
The real estate market reached new heights in 2023. Average apartment prices reached Rs 4,900-5,100 per sq ft, while land prices shot up to Rs 5,900-6,100 per sq ft. The main reason for this was the construction of Jewar airport and better connectivity of the Delhi-Mumbai Industrial Corridor (DMIC).
Now the price of 2-3 BHK has become so high.
By 2024, the rates along the Yamuna Expressway have breached all limits. Now apartment prices here have reached an average of Rs 7,900 to Rs 8,100 per square foot and the land price has reached between Rs 6,900 and Rs 7,100 per square foot. A staggering 170% increase in apartment prices and 450% increase in land prices in the last five years has turned the real estate sector here into a cash cow for investors.
Rising real estate rates on Yamuna Expressway have made it a favourite destination for investors. Be it the development of Jewar Airport or any other government project, all have seen prices rise here. This is why the real estate market in this area is attracting investors and property prices here are reaching new records every day.
