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Dwarka Expressway all set to trigger revival of real estate along its path

Priya Singh | 2023-12-09

Upon completion of the projects, we witnessed a rise in values as demand gained momentum. Property prices have risen from around Rs 4,600 per square foot a year ago by almost 17 percent. The average price in Greater Noida West is estimated to be Rs 5,400 per sq. ft as of Q2 of 2023,
founder of Geetanjali Homestate, a real estate consultancy, said property prices in Noida Extension oscillate between Rs 4,200 per sq. ft and Rs 7,500 per sq. ft, depending on the sector, location, floor and unit size.
Prices range from Rs 5,700 to Rs 6,000 per sq. ft in Sector 4, whereas in premium areas like Sectors 1 and 10, the average rate is Rs 6,500 to Rs 7,500 per sq. ft. There are affordable pockets as well, including Sector 16B, where rates start at as low as Rs 4,200 per sq. ft
With the return of work from office in the post-pandemic era, rental demand has also increased in the Noida Extension micro-market.

Rents for two-bedroom units range from Rs 10,000 to Rs 16,000 per month, while for three-bedroom flats, it is Rs 17,000 to Rs 22,000, depending on the size. The weighted average rental for a one-bedroom home is estimated at Rs 6,000 to Rs 8,000 per month.

One-bedroom suites are also in demand because they fetch good rents. The Saya Group and the Gaur Group have launched one-bedroom business suites.
People who already own a property generally purchase such 1BHK suits for investment purposes. They get good rentals of up to Rs 8,000 per month
Still, there are some challenges that residents face. Juhi Kataria, who lives in Mahagun Mywoods, said traffic jams and the lack of regular public transport are among the key problems
In the morning and evening, the entire stretch from Ek Murti Chowk to Gaur Chowk witnesses huge traffic snarls. Vehicles move at a snail’s pace and commuters have to spare about 30 minutes or leave early to reach their destination on time. There is no dedicated public transport in the area and people have to rely on autos or personal conveyance