In the past few years, NCR’s real estate market has seen a noteworthy shift, with a growing demand for luxury housing. What was once a collection of scattered towns and cities has now evolved into a hub of urban development, marked by rapid infrastructure and real estate growth. Strategic locations of various micro-markets combined with the government’s initiatives for infrastructure upgradation, economic activities, and urban development have turned NCR into a magnet for real estate investment for end-users and investors alike.
A representational image
Government initiatives have laid a strong framework of connectivity and planned urbanization, improving the quality of life for residents and making NCR an attractive destination. Enhanced connectivity, supported by extensive road networks, expressways, and metro expansions, has further catalyzed the realty boom across micro-markets of NCR. Key infrastructure projects such as the Yamuna Expressway, NH-24, Delhi-Mumbai Industrial Corridor (DMIC), and others have dramatically improved connectivity within NCR and other major cities.
NCR’s realty market has witnessed the positive impact of various collective initiatives to push the development and growth of manufacturing clusters, industrial areas, highways, expressways, and Special Economic Zones. These initiatives have not only boosted the regions industrial output but have also propelled the development of surrounding areas, leading to the emergence of new residential and commercial hubs.
Besides, a combination of factors has made NCR one of the most desirable places to live and invest. The Anarock report highlights that in H1 2024, Noida saw substantial sales of 8,425 units, 42% of which were luxury homes, while Ghaziabad saw 6,205 units. In the first six months of 2024, Delhi-NCR collectively saw approximately 32,000 housing units sold, 45% of which were luxury homes. The data underscores how, with the increasing numbers of affluent buyers, the demand for high-end properties rises, providing an elevated living experience.
Rohit Mehta, a millennial working at an IT firm in Noida is actively looking to buy his dream home. He shares his views on choosing Noida as his preferred location and says “After spending a substantial time in the city as a migrant workforce, I look forward to owning my dream home here. I have witnessed the city undergoing massive infra upgradation, boosting the city’s connectivity and liveability quotient. Besides, the property appreciation has been quite impressive across Noida- Greater Noida which makes it a lucrative choice. I am confident that investing in this area will yield strong returns as the region grows as a luxurious residential hub.”
The availability and new supply of quality projects offering one-of-a-kind luxury living experiences intrigues potential homebuyers. Developers with credible track records who have earned customer trust and loyalty over the years are constantly shaping the growth of NCR’s realty market. Prateek Group, one of the notable developers in NCR is known for creating exquisitely designed residences. Prateek Grand City in Siddharth Vihar is the only developed township in the Ghaziabad region. Its strategic location along NH24 provides easy access to Delhi, Noida, and other parts of NCR, further enhancing its appeal. With the constant endeavor of improving its product portfolio and providing an upgraded lifestyle to its residents, Prateek Group is in the advanced stage of introducing a new addition to its township very soon.
Besides, the Prateek Canary located in Sector 150, Noida, is a perfect option for buyers looking to relish in luxury and nature retreats. The project’s strategic location along the Noida Expressway ensures excellent connectivity to key areas within NCR, making it an ideal choice for professionals and families.
Rashmi Sharma, a corporate professional is another prospective homebuyer preferring to buy a house around Noida-Ghaziabad. She says, “The constant upgradation in the city’s physical and social infrastructure over the years has impressed us especially its planned connectivity and the supply of quality living spaces. I and my family personally like the concept of an integrated township facilitating a comprehensive lifestyle. We are assessing key options available around Ghaziabad and Noida as these regions in NCR have been showing great growth potential.”
NCR’s extensive urban and infra development contributes to an exceptional quality of life, attracting a diverse population of professionals and families. With a range of housing options, NCR provides something for every type of homebuyer. As the region continues to evolve and expand, it presents an attractive opportunity for those seeking a vibrant community and a valuable real estate investment.
(Disclaimer: The above press release comes to you under an arrangement with Newsvoir)
Author- News Vior
