NCR-The Emerging Property Investment Hub
Investment in real estate sector yields outdoing returns, and thus with improving connectivity, expanding cities and rising property prices, more and more home buyers and property investors are looking for locations close to metro cities. Even developers are not far behind and also betting big on such deals. And what surmount option can there be other than the emerging and planed metropolitan at the NCR. The property prices in the national capital region continue to defy the skeptics. Investment in NCR properties, is one of the most lucrative options, yielding fantastic returns on your investments. . During the last 5-6 years NCR real estate industry has grown to manifolds and so are the prices of flats, houses and land in the area. Such is the growth in the housing market in the region that housing development companies are finding it difficult to keep up with the volume of interest from potential buyers. The factors that have contributed to such a rapid growth are greater economic activity, rising personal income and the resulting migration. The boom has led to over 1 lakh newly launched apartment units into the market. Most of these projects cater to the mid-income group who want to own their own abode and also be a part of the metropolis.
So let’s take a look at some of the promising property investment options in the NCR, which is likely to show growth and tremendous returns over the emerging few years:
Bhiwadi:
Bhiwadi lies on NH-8 i.e., the Delhi Jaipur highway. It is in close proximity to Gurgaon and is termed as the Gateway of Rajasthan. Bhiwadi is one of the emerging real estate destinations in NCR. The place is emerging as the NCR’s next big industrial hub and has seen growth of affordable residential developments within the last few years. Some of the biggest names in the real estate business have come up with their projects here. This town is a fast-developing Tier II town, providing all the lifestyle facilities of a big city. With high property rates in Gurgaon and Manesar, Bhiwadi has come up as a profitable and affordable locality for real estate investors and buyers.
Some prominent names in the real estate sector whose projects can be found here are:
- Ashiana Housing,
- Parsvnath, Krish Group,
- MVL,
- Avalon,
- BDI,
- Genesis,
- Cosmos,
- Jagrit Infrastructure,
- Kajaria,
- Kingfisher,
- Konark
- Star Realcon.
Despite escalating price in the vicinity, housing is still affordable here. For instance, the rates 2BHK apartments of 1,160-1,200 sq ft range between Rs 25 lakh and Rs 31 lakh today as against Rs 24-29 lakh in 2009, while 3BHK apartments of 1,320-1,520 sq ft are available for Rs 34-39 lakh as against Rs 30-35 lakh in 2009.
New Gurgaon and Dwarka Expressway:
The stretch between Gurgaon and Dwarka is seeing significant buyer and investor interest and is one of the promising realty markets in the National Capital Region (NCR). Dwarka Expressway, also known as the Northern Peripheral Expressway, when complete would be an eight-lane expressway, being developed by the Haryana Urban Development Authority (HUDA) at a cost of Rs 120 crore. As a part of the Gurgaon-Manesar Master Plan 2021 (Urban Complex Plan), the expressway will connect Dwarka to National Highway 8. The proposed location will stretch 18 kms, starting from Dwarka and the forthcoming special economic zones in Gurgaon and would join the NH 8 near Kherki Dhaula. The expressway will cut the travel time from west Delhi by half. This area is a part of ‘New Gurgaon’, which is being developed with better infrastructure, to match the standards set by Greater Noida. The E-way already enjoys a decent infrastructure in terms of schools, shopping centers, hospitals in Palam Vihar, Gurgaon and Dwarka. The area is poised for stupendous growth , with some of the best names in the real estate sector having already launched their ultra-luxurious projects in the area.
Some of the prominent developers whose projects are emerging here are:
- BPTP.
- Mahindra Life Space
- Landmark
- Ansal Siddhartha
- Earth Infrastructure
- Satya Group
- Ramprastha
- Raheja
- Era Group
- Spire World
- India Bulls
- Tashee Group
- Brisk
The current rate at which reputed developers are selling their residential apartments are in the range of R3,000-4,500 per sq ft for mid-segment projects. The luxury projects are in the range of Rs 5,500-6,500 per sq ft. These prices are almost half of what is now prevailing in Gurgaon, and almost one third when compared with the prices prevailing in Dwarka.
Yamuna Expressway:
The areas in the vicinity of the six-lane, 165 kilometer long Yamuna Expressway, which connects Noida to Greater Noida with Agra is a booming real estate investment destination. Some of the factors that make the Yamuna E-way a goldmine for property investors are: its proximity to Delhi, rapid industrialization in Greater Noida, and the presence of a large number of educational institutions there. Jaypee Infratech, promoter of Yamuna Expressway, has the right to develop real estate along the Expressway over 6,175 acres (equivalent to 530 million sq ft). Due to the expressway, the property prices have already touched Rs 30,000 per square yard in the area, and which is growing very rapidly. The Jaypee Group, which has developed the expressway, will bring forth five integrated townships sprawling across 500 hectares at five locations along the expressway. The state government too has already acquired land and allotted 21,000 plots off the expressway to individuals.
Apart from the Jaypee Group, some other prominent real estate developers whose ongoing and upcoming projects can be found in the area are:
- Supertech
- SDS Infrastructure
- Orris Infrastructure
- Anushria Realtors
- 3C Company
- Anova Infracon
- Silver Sands Estate
- Aminiti Builders
- Ajnara
- Nimbus.
Faridabad:
A lot is happening in terms of real estate development in Faridabad and area between Faridabad and Palwal. Lots of new residential and commercial projects have sprung up in the region which has rekindled the interest of property buyers in the region. Located 25km from Delhi (ISBT), Faridabad is now emerging as the preferred destination for investors as there are huge prospects of economic boom in the air. Some of the few reasons supporting booming property prices in the region are: Housing demand, land crunch in Delhi and affordable housing. The industrial city enjoys the merit of proximity to Delhi, as well as the NCR cities of Greater Noida and Gurgaon. These factors are making investors and corporate choosing Faridabad as one of the potential thriving real estate destination. Faridabad is already home to several MNCs, ISO-based industries, aswell as scores of medium- and small-scale manufacturing units. On the whole, the total number of small, medium and large industries in the Faridabad-Ballabgarh Complex is around 15,000. Faridabad has always been underpriced in spite of the geographical advantages it offers, being equidistant from Delhi, Gurgaon, and Noida and having fairly good connectivity with all, by road and rail route. In the near future the property prices are set to go higher due to the proposed Metro rail-link and modernization of Mathura Road will enhance the prospects of Faridabad further.
Some of the real estate developers having noticeable presence in the region are:
- Omaxe.
- BPTP.
- Puri Construction.
- Eros Group.
- Ansals API
The average ticket size for apartments in Faridabad is around Rs 3,000-4,000 per sq ft. Although in most of the group housing projects, appreciation, of late, has been sluggish.
