With its towering housing stock and upcoming infrastructure projects, the National Capital Region (NCR) presents an intriguing lure for prospective homeowners. This area has numerous housing options, from affordable homes to opulent, high-end residences. Nonetheless, Propertywala.com offers you a list of some of the best locations to invest in Delhi NCR for less than Rs 50 lakh, all while keeping your budget in mind.
Many new locations have gained prominence lately as the Delhi Metro expands into far-flung parts of the National Capital Region (NCR). Other factors that have contributed significantly to growth include the launch of affordable housing projects, better road connectivity, and a greater emphasis on infrastructure. “National Highway (NH)-24, Greater Noida, Greater Noida West, and Yamuna Expressway are some of the best locations for homebuyers in Delhi NCR,” says Suresh Garg, CMD of Nirala World and Secretary of CREDAI Western UP. End users are now driving the market, so developers are concentrating on keeping it going by providing affordable homes in these areas. Infrastructure development has also had an impact on real estate expansion. “For those looking to purchase a home in Delhi NCR for less than Rs 50 lakh, these are the top five neighborhoods.
NH-24 (National Highway -24)
NH-24, sometimes known as “the lifeline of Ghaziabad,” has been an essential catalyst for growth in several communities along its path. “Siddharth Vihar, close to NH-24, is a developing area that meets the demands for homebuyers at reasonable costs,” continues Garg. Housing societies long NH-24 have average property values of approximately Rs 3,700 per square foot, following a nearly 15% YoY price rise. The region has grown by almost 18% over the previous five years, and its potential will continue to increase even more with the impending metro extension in Indirapuram.
Noida Extension (Greater-Noida West)
Greater Noida West, formerly known as Noida Extension, is now a popular option for reasonably priced real estate. The extension of the metro link from Noida to Greater Noida has been one of the primary factors driving the region’s growth. Additionally, some of the earlier worries of home buyers have been put to bed by the resolution of land acquisition issues. Prominent developers, including Gaurs Group, Mahagun Group, and Ace Group, have created several affordable housing projects in the region, and the pace at which the infrastructure is developing there is astounding. The development of Jewar Airport and the connectivity provided by the Noida-Greater Expressway have improved the area’s positive aspects. “The proposed commercial development, the metro terminal at Bodaki, and the Delhi-Mumbai Industrial Corridor (DMIC) project promise to create a lot of job opportunities in the region, which would further boost its real potential,” states Ashudeep Batra, vice president of operations at Exotica Housing.
The most popular configuration is the 2 BHK, with average prices rising by nearly 50%, from Rs 4,500 per sq ft square to 5,800 per sq ft.
New Gurgaon
Sectors of New Gurgaon are suitable for end-use and investment due to their strategic location and connectivity via NH-8. In addition, building the Delhi-Mumbai Industrial Corridor (DMIC) could contribute to the region’s expansion. Between Sectors 81 and 95, the entire area is currently seeing the construction of numerous residential and commercial projects. As the city’s civic infrastructure improves, New Gurgaon will likely become one of the most sought-after neighborhoods. The home values in the micro-market have grown annually by more than 45% and are currently between Rs 5,000 and Rs 6,300 per square foot. The State government’s decision to relocate Kherki Daula Toll Plaza to Pachgaon would help alleviate the area’s heavy vehicular traffic.
The Raj Nagar Extension
The extension of Raj Nagar, like many other parts of Ghaziabad, has been developing quickly. “Over the past few years, Raj Nagar Extension in Ghaziabad has attracted many home buyers looking at quality housing but unable to afford a property in NCR, “says Anuj Goel, Executive Director of KDP Infrastructure. Raj Nagar Extension is a haven for homebuyers thanks to its many upcoming infrastructure projects, better connectivity, and affordable housing developments. It is the hub of industry, commerce, and education in the western United Provinces and has excellent road connectivity. The Raj Nagar Extension links NH 91 and NH-58 via the six-lane Meerut Bypass. In addition, an elevated road connects the township to Delhi. The green belt beside the Hindon River is another major draw.”
Faridabad
Many of the previously remote areas of Faridabad no longer have connectivity issues thanks to the Delhi Mtero’s extension of service from Badarpur to Escorts Mujesar. Investors are showing a renewed interest in exploring different sectors in Faridabad. Nehar Par is one of the neighborhoods experiencing rapid growth, with an average property price of Rs 4,100 per square foot.
Your first-time home-buying checklist in Delhi NCR
If you have this home-buying checklist handy when closing a deal, investing in real estate in Delhi NCR can be profitable! What you should know is as follows:
- Delays in possession
Possession delays in metropolitan real estate are a well-known problem. In Delhi NCR, whether you are opening a store in a business district or purchasing your first house, be ready for delays in possession. When there are delays, the builder or developer usually requests an extension of six months. But this problem primarily affects impending and new housing developments; it rarely affects properties for sale.
- Potential for resale
Opportunities for real estate are plentiful in a bustling city like Delhi NCR. New developments with better features, amenities, and handy locations. Before completing the purchase of your first property, research the property’s potential for resale and determine whether selling it at a good time will help you financially.
- Building Caliber
Shocking footage of a 20-year-old, four-story building collapsing in the Bhajanpura neighborhood of Delhi-NCR flooded media channels in March 2023. Even though no one was hurt, this incident raised questions regarding the quality and standards. Nonetheless, trustworthy developers and builders with proven designs are accessible in Delhi NCR. The three most important factors to consider when buying a property in Delhi NCR are construction quality, development review, and brand value.
The NCR region has seen tremendous change in recent years due to new highways like the Dwarka Expressway and Greater Noida Expressway, along with metro extensions like the Aqua Line and Rapid Metro. Before making a choice, prospective homeowners should perform extensive research and due diligence because the listed area’s popularity is due to numerous factors.
