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Noida-Gurugram Price Boom: Property Becomes Hottest Investment In Last 5 Years, Says Report

Priya Singh | 2023-10-28

Residential property prices in the Delhi-NCR region have appreciated significantly over the last five-year
period as per insights shared by property search platform 99acres.com. Various factors, such as changes in government policies, economic conditions, and regulatory reforms like the Real Estate (Regulation and Development) Act, 2016, have contributed to the market dynamics.

Residential property prices in the Delhi-NCR region have appreciated significantly over the last five-year period as per insights shared by property search platform 99acres.com. Various factors, such as changes in government policies, economic conditions, and regulatory reforms like the Real Estate (Regulation and Development) Act, 2016, have contributed to the market dynamics.

Maneesh Upadhyaya, Chief Business Officer, 99acres.com, said, “In 2023, more than 1.6 lakh housing units are set to be delivered to home buyers across Delhi NCR. This, accompanied with infrastructural developments, such as the expansion of metro lines, expressways and upcoming airport, along with an increase in new project launches in the first quarter of the year have rendered a positive impact on the region. These developments have collectively contributed to the rise in property prices in key micro-markets of Gurugram and Noida in both resale and new home segments.”
According to 99acres, Gurugram has seen 20.3% YoY price appreciation across 50+ localities. The city has an ample supply of residential apartments, followed by builder floors and residential plots. The prominent and most searched areas of DLF Phase 5 and Sector 48 in Gurugram have a price of Rs 16,400/sqft and Rs 11,350/sqft respectively.