Emerging NCR Corridors: The Next Wave of Real Estate Growth
As NCR’s physical and social infrastructure continues to evolve, real estate experts believe the region will maintain its growth trajectory across both end-user and investor categories.
In the first episode of Property Gurus – Season 2 hosted by ETRealty, Santosh Agarwal, Executive Director & CFO of Alphacorp, and Ashish Agarwal, Director at AU Real Estate, weighed in on the market outlook, emerging hotspots, and the changing demand dynamics in the region.
According to Santosh Agarwal, the NCR’s momentum is anchored by a consistent inflow of migrants from Tier 2 and Tier 3 cities seeking better employment and lifestyle opportunities. “The moment people migrate, housing becomes the next immediate necessity,” he said, highlighting the continued demand for residential units in the region.
He noted that infrastructure upgrades have dramatically reduced travel times across NCR corridors. “Reaching Meerut now takes 45 minutes compared to two hours earlier. Similarly, travel time to Karnal has halved,” Agarwal said, underlining how connectivity directly fuels housing demand.
Ashish Agarwal echoed similar sentiments, adding that lifestyle shifts are driving even Delhi-based families to suburban cities like Noida, Gurgaon, and Ghaziabad. “People today are prioritising amenities, open spaces, security and quality of life over congested inner-city living,” he observed.
Santosh Agarwal pointed to the Dwarka Expressway, Karnal, Panipat, and Meerut—areas expected to see heightened activity due to infrastructure projects like the Delhi-Meerut RRTS and the Mumbai Expressway extension.
Ashish Agarwal added that rising property prices in prime locations like Gurgaon and Noida may shift demand to more accessible yet under-explored areas such as Faridabad and Ghaziabad, especially with improved road connectivity.
“Real estate developers typically enter early-stage markets, create initial value, and rely on infrastructure buildout to fuel growth and affordability,” said Santosh Agarwal.
On the issue of rising property and home loan costs, both experts acknowledged that affordability remains a challenge, particularly in central NCR zones. However, developers are increasingly adopting cost-efficient construction technologies like aluminium formwork and sourcing local materials to optimise input costs.
Santosh Agarwal lauded recent government measures such as the TDR (Transferable Development Rights) and TOD (Transit-Oriented Development) policies, which help subsidise land costs and make housing more accessible. “Government support in land management and anti-dumping duties on materials like steel have helped control inflation,” he added.
Despite cost pressures, demand remains resilient across the spectrum—from affordable to luxury housing. “Every segment has its buyer—be it for a Maruti or a Mercedes,” quipped Ashish Agarwal, pointing out that today's homebuyers are more discerning and informed. “Customers are looking for product differentiation and value-for-money features before making a decision,” he said.
Ashish also stressed that developers must look beyond saturated zones. “With NCR’s rapid expansion and enhanced mobility, areas once considered far like Rewari or Meerut are now well within reach,” he noted, adding that this shift is essential to unlocking future supply and maintaining price stability.
