Realestate News: After Covid, a tremendous increase in property prices is being seen in the last three to four years. The result of this was that the prices more than doubled. The increase in prices in Noida and Gurugram was not seen in any other city.
Property Price in Delhi-NCR: After the Covid pandemic, prices in the real estate market of Noida and Gurugram have increased rapidly. The situation is such that within four years the property prices have crossed double. Both buyers and investors have benefited from this. According to a recent report by Anarock, between 2021 and 2024, property prices in these areas have increased by up to 128%. However, during this period, the rental rates did not see much increase.
Why did property prices increase in Noida-Gurugram?
If you had bought a house in Noida or Gurugram in the year 2021, its price would have more than doubled today. According to Anarock’s report, in the last four years, property prices in premium areas of Noida have increased by up to 128%. At the same time, in some areas of Gurugram, there has been an increase of up to 59%. In Sector-150 of Noida, the price has increased by up to 128%. But this is only a 66% increase in rent. Apart from this, the property price on Sohna Road in Gurugram has increased by 59%, while the rent is only 47%.
What do experts say?
SKA Group director Sanjay Sharma says that the premium sectors of Noida have seen a surge in property prices due to excellent infrastructure and better connectivity. People who invested here four years ago have now got more than double the return on their property. County Group director Amit Modi says that the real estate sector has seen a boom due to high-end projects, luxury townships and growing corporate hubs in Noida and Gurugram. The price near the expressway in Noida is constantly increasing.
Big difference in price and rent in other cities
According to Anarock’s report, different trends are being seen in property prices and rent in other major cities. Property prices in Mumbai’s Chembur and Mulund increased by 48% and 43% respectively, but the rent increased less than this, only 42% and 29%. A similar pattern was seen in Hyderabad’s Hitech City and Gachibowli, where property prices increased by 62% and 78%, while rentals saw a rise of 54% and 62%, respectively.
Property prices in Thanisandra Main Road in Bengaluru rose by 67%, while rents rose by 62%. At the same time, rents increased by 76% in Sarjapur Road, but property prices could only increase by 63%. Rental increase in Pune, Kolkata and Chennai was higher than property prices. Rents increased by 57% in Hinjewadi, Pune, property prices increased by only 37%. Rents rose by 51% in EM Bypass, Kolkata, but property prices increased by only 19%.
According to Anuj Puri, Chairman of Anarock Group, property prices increased more than rents in big cities like Bengaluru, Mumbai Metropolitan Region (MMR), Delhi-NCR and Hyderabad from the end of 2021 to the end of 2024. At the same time, the opposite trend was seen in some areas of Pune, Kolkata and Chennai, where the increase in rent was more than property prices. Experts believe that there are great opportunities for investors in areas where infrastructure development is still going on. Those investing in Noida Expressway, Gurugram can still earn good returns in the coming days.