The National Capital Region (NCR) has transformed from a hub of dubious real estate practices to one of the most dynamic property markets in the nation. Over the past five years, the region has experienced several significant shifts in trends.
Notably, there has been a pronounced increase in demand for luxury housing. Recent data from ANAROCK reveals that in the first half of 2024, approximately 32,200 housing units were sold in NCR, with more than 45% of these sales occurring in the luxury segment, while the affordable segment accounted for 24%. In contrast, in 2019, luxury home sales constituted only 3%, with affordable housing making up 49% of the market share.
Meanwhile several commercial and residential hotspots and micro markets have emerged in Delhi-NCR in recent years. For instance, Golf Course Extension Road and New Gurugram have emerged as high growth corridors owing to excellent connectivity and vibrant social infrastructure. Similarly, Dwarka Expressway, Sohna Road, and Noida Expressway have seen a massive turnaround in terms of both residential and commercial real estate investments.
Here we are taking a look at 3 emerging property micro-markets in Delhi-NCR for profitable investment:
Dwarka Expressway
The completion of key infrastructure projects and recent policy decisions have played a crucial role in the ascension of New Gurugram or the Dwarka Expressway. With the Gurugram section of the Dwarka Expressway inauguration and the Haryana Government approving a Rs 99.5 crore project to construct service roads on both sides of the expressway, real estate experts predict a surge in residential and commercial investments by top developers and property buyers.
The Rs 9,000-crore Dwarka Expressway, one of the most ambitious yet delayed projects, is being executed in four phases—two in Delhi and two in Gurugram—connecting Dwarka in Delhi to Kherki Daula in Gurugram. Over the past five to six years, the region has seen substantial development, with significant investments from Grade-A developers, resulting in a variety of property options, including high-rise societies, gated communities, independent floors, and affordable housing.
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Vikas Garg, Joint Managing Director, Ganga Realty, says, “Dwarka Expressway, especially micro markets such as Sector 84 and 85, have become favorable zones for luxury housing purchases. The rapid development of infrastructure, extensive connectivity improvements, and the introduction of luxury housing projects have driven up property values in Sector 85 and neighboring areas. Concurrently, there has been a significant surge in property demand recently. With the Gurugram section of the Dwarka Expressway nearing completion and set to open for commuters soon, it is highly likely that property prices will increase substantially, attracting more investors to the real estate market.”
Sohna Road
Due to its proximity to the Sohna-Dausa stretch of the Delhi-Mumbai Expressway, Sohna Road is attracting substantial real estate investments, particularly in the residential sector. The Delhi-Mumbai Expressway has played a crucial role in the rise of Sohna Road, with developers seeing the area as a lucrative investment zone promising significant returns. In addition to its strong connection with the Delhi-Mumbai Expressway, Sohna Road benefits from seamless access to the six-lane elevated Gurugram-Sohna corridor (NH-248A). This allows for a convenient 15-minute drive to major commercial, retail, and entertainment hubs in Gurugram.
The robust connectivity provided by the Delhi-Mumbai Expressway will ensure that Sohna Road enjoys exceptional access to the Direct Noida-Delhi flyways, the Delhi-Meerut Expressway, the Kundli-Manesar-Palwal (KMP) Expressway, NH-2 (Delhi-Agra), the Delhi-Mumbai Expressway, and the highway leading to Jewar Airport. As per industry reports, the project is set to include 8 elevated sections, comprising 10 flyovers, 6 vehicle underpasses (VUPs), 11 light vehicle underpasses (LVUPs), 13 minor bridges, 1 rail overbridge (ROB), 1 rail underbridge (RUB), 6 bus bays, and 102 box culverts.
Commenting on this, Saransh Trehan, Managing Director, Trehan Group, says, “Sohna Road is a thriving and rapidly-transforming suburb in the National Capital Region, benefiting from its proximity to the Delhi-Mumbai Expressway and commercial hubs like Cyber City and Golf Course Road. This makes it an appealing location for professionals working in these areas. Homebuyers are increasingly favoring areas like Sohna Road, which offer closeness to nature and promote health and wellness. Access to green spaces is linked to increased social cohesion and a stronger sense of community, which can improve overall well-being. In response to the growing demand for sustainable and health-oriented living, developers and urban planners are designing new micro-markets and suburbs that focus on natural features and healthy lifestyles. This trend is expected to persist as more people aim to prioritize their physical and mental health in their daily lives.”
Noida Expressway
In addition to rapidly becoming a hotspot for retail and commercial developments, including shop-cum-offices and high-street projects, the Noida-Greater Noida Expressway excels in various key areas such as connectivity, infrastructure, population density, and urban settlements. The corridor offers excellent connectivity to the upcoming Noida International Airport/ Jewar Airport via the Yamuna Expressway, with travel time under one hour.
It also provides easy access to major cities in the NCR, including Delhi, Greater Noida, Ghaziabad, Faridabad, and Gurugram. The Aqua Metro line of the Noida Metro Rail Corporation (NMRC), which connects Noida to key areas of Greater Noida like Pari Chowk and Knowledge Park, further enhances the expressway’s appeal. Additionally, its proximity to the Yamuna Expressway (connecting to popular cities and religious sites in Uttar Pradesh like Agra, Mathura, and Vrindavan) and the FNG Expressway adds to its connectivity advantages.
The Noida Expressway has emerged as a prime area for commercial and retail developers, driven by rising consumer demand for high-quality offices, malls, and retail structures, thanks to the rapid increase in residential settlements along the corridor. According to the latest JLL report, retail developers are eager to launch projects in lucrative areas to expand their retail footprints. The report projects a 45% increase in new retail real estate space from the current 91 million sq ft across seven major cities, including Delhi-NCR, by 2028. Delhi-NCR is expected to capture a significant portion of this growth, accounting for 34% of the retail stock supply.
Dushyant Singh, Director, Orion One 32, says, “The Noida Expressway has quickly transformed into a bustling center for retail and commercial projects, fueled by its strategic location, excellent connectivity, and robust infrastructure. Its proximity to Delhi and integration with major highways and metro lines have made it a prime destination for businesses and investors. A key factor in this growth is the availability of ample development space. The area along the expressway has experienced a boom in high-end commercial complexes, IT parks, and shopping malls. Prominent developers have capitalized on this opportunity, creating state-of-the-art office spaces and retail hubs that attract multinational corporations and renowned retail brands.”
Shiven Vikram Bhatia, Executive Director, Splendor Group, says “The Noida Expressway has emerged as a key hub for retail and commercial real estate expansion in the National Capital Region (NCR). Its strategic location, excellent connectivity to Delhi and major highways, and robust infrastructure make it an attractive destination for businesses. The area has seen a surge in high-end commercial complexes, IT parks, and shopping malls, attracting multinational corporations and well-known retail brands. This growth is further supported by ample space for new developments, modern amenities, and supportive government initiatives, solidifying the Noida Expressway as a commercial powerhouse in the region.”
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