The growing curiosity in suburban property since 2021 has made land alongside the Yamuna Expressway costly. (News18 Hindi)
The common price for flats alongside the Yamuna Expressway has risen to between Rs 7,900 and Rs 8,100 per sq. foot, whereas land costs have elevated to between Rs 6,900 and Rs 7,100 per sq. foot
While property charges in Delhi NCR have gone by way of the roof there are some areas the place the land charges in addition to condo costs have boomed like by no means earlier than. One such space is the land alongside the Yamuna Expressway in Noida.
Buying a plot of land or a flat alongside the Yamuna Expressway in Noida is now not inexpensive. After the pandemic, whereas the costs of flats alongside the Yamuna Expressway have elevated by 170 %, costs of land have grow to be surged by as much as 470 %. These surprising details have come to gentle in a report by property consultancy agency Geetanjali Homestate.
The growing curiosity in suburban property since 2021 has made land alongside the Yamuna Expressway costly. Even when the true property market was in a stoop in 2020 after the pandemic, the costs of properties situated across the Yamuna Expressway stored rising. Apartment costs at the moment have been between Rs 3,200 to Rs 3,300 per sq. foot and land costs have been between Rs 1,250 to 1,300 per sq. foot.
After 2021, condo costs grew to become Rs 3,400 to Rs 3,600 per sq. foot and land costs additionally surged drastically to Rs 2,000-2,200 per sq. foot. This development didn’t cease in 2022. During that point, condo costs rose to Rs 3,600-3,800 per sq. foot and land costs virtually doubled to Rs 3,400-3,600 per sq. foot.
The actual property market touched new heights in 2023. The common costs of flats rose to Rs 4,900 to Rs 5,100 per sq. foot, whereas land costs skyrocketed to Rs 5,900 to Rs 6,100 per sq. foot. The essential purpose behind that is the development of the Jewar Airport and higher connectivity of the Delhi-Mumbai Industrial Corridor (DMIC).
In 2024, the charges alongside the Yamuna Expressway broke all obstacles. The charges of flats right here have reached a mean of Rs 7,900 to Rs 8,100 per sq. foot and the value of land has reached Rs 6,900 to Rs 7,100 per sq. foot. The staggering improve of 170 % in condo costs and 450 % in land costs within the final 5 years has made the true property right here a golden goose for traders.
Whether it’s due to the event of the Jewar airport or another authorities mission, each property supplier alongside the Yamuna Expressway has elevated their costs. This is why the true property market on this space is attracting traders. The property costs on this space are hitting new data daily.
