Expressway Boom: How Dwarka and Noida-Greater Noida Expressways are Driving the Real Estate Market
Home News Business Real Estate Dwarka Expressway, Noida-Greater Noida... Average property prices along Dwarka Expressway and Noida-Greater Noida Expressway have risen by over 100% between 2021 and 2024.
Dwarka ExpresswayNoidagreater Noida ExpresswayReal EstateProperty PricesInfrastructure DevelopmentReal Estate NewsSep 10, 2024
Dwarka Expressway connects Gurugram in Haryana with Delhi's Dwarka suburb and Indira Gandhi International Airport while the other one connects Noida and Greater Noida sub-cities, and will link the upcoming Noida International Airport at Jewar through the Yamuna Expressway that branches off from the Noida-Greater Noida Expressway.
The Noida-Greater Noida Expressway was inaugurated in the early 2000s while the Dwarka Expressway was conceptualised in 2006-07 but was inaugurated in March 2024 by Prime Minister Narendra Modi.
Both these expressways have made commuting easy to and from these satellite towns. Experts say that the condominiums—with new-age amenities, malls and offices, social infrastructure like schools and hospitals, and better connectivity among other facilities—have added to the liveability quotient along these expressways.
Property price appreciation has been significant along both expressways. According to real estate data analytics firm PropEquity, the average price of new projects along the Dwarka Expressway rose to Rs 17,357 per square foot (psf) in July 2024 from Rs 8,630 psf in July 2021, a rise of around 101 percent. Similarly, the average price of newly launched projects along the Noida-Greater Noida expressway rose to Rs 17,428 psf in July 2024 from Rs 6,568 psf in July 2021, a rise of 165 percent.
The data showed that over 22,000 units had been launched along both the expressways between 2021 and 2024.
Experts said that though the average price for new projects along these arterial roads remains around Rs 17,000-Rs 18,000 psf, both the Gurugram and Noida markets have also seen wide acceptance of launch prices of Rs 20,000 to Rs 25,000 psf.
Shiwang Suraj, founder and director of Gurugram-based property consulting firm InfraMantra, said that the Dwarka and Noida expressways have become the lifeline for commuters and the sharp jump in realty prices points to the rising demand along these routes.
Easy connectivity, proximity to Grade A office spaces, and good schools, hospitals, and shopping areas in their catchment areas make these micro-markets lucrative real estate investments.
Frequently Asked Questions
What is the average property price increase along Dwarka Expressway and Noida-Greater Noida Expressway between 2021 and 2024?
Over 100%
What is the average price of new projects along Dwarka Expressway in July 2024?
Rs 17,357 per square foot (psf)
What is the average price of newly launched projects along Noida-Greater Noida expressway in July 2024?
Rs 17,428 psf
How many units have been launched along both expressways between 2021 and 2024?
Over 22,000
What is the average price range for new projects along these arterial roads?
Rs 17,000-Rs 18,000 psf
Tags:
Related News Articles
Debate Ignites Over End of Indexation Benefit on Property Sale
The removal of indexation benefit on property sale has sparked a heated debate, with officials claiming it will benefit most taxpayers, but industry experts argue it will lead to higher frequency of secondary market real estate sales.
Ola Executive Amit Anchal's ₹13.5-Crore Bengaluru Villa Purchase Highlights Luxury Property Trends
Amit Anchal, a strategic consultant for Ola, has bought a luxury villa for ₹13.5 crore in Bengaluru's Adarsh Palm Retreat Villas, reflecting the city's emerging luxury property market.
Capital Gains Tax Relief for Real Estate: A Game-Changer for Taxpayers
The government has proposed significant relief for taxpayers in terms of capital gains tax on real estate properties, giving them the option of paying a 20% tax rate with indexation or a 12.5% tax rate without indexation.
5 Top Companies Announcing Q2 Results Next Week
Next week, investors will be keeping a close eye on the market as some of the most prominent companies announce their Q2 results. These announcements can significantly impact stock prices and provide valuable insights into the financial health and future
Mumbai's Real Estate Market Sees Unprecedented Surge, Says CREDAI-MHAI President
The Mumbai real estate market is experiencing an unprecedented surge, with high demand, increasing volumes, and a growing interest in both residential and commercial properties.
Gauri Khan Sells Mumbai Flat for ₹11.61 Crore, Reaps 37% Profit in Just 19 Months
Gauri Khan, the renowned Indian interior designer and wife of Bollywood superstar Shah Rukh Khan, has sold her Mumbai flat for a staggering ₹11.61 crore, marking a 37% profit in just 19 months. This impressive sale highlights the robust real estate market in the bustling metropolis.