With growing numbers of skyscrapers and rapidly developing infrastructure, the National Capital Region (NCR) makes quite an interesting appeal to modern homebuyers. From high-end luxury housing to affordable residential units, there is something for everyone here. When it comes to the cost-effective homes, Greater Noida, Faridabad, and NH 24 are some of the best locations preferred by potential buyers in Delhi NCR.
On that note, check out five popular areas to buy a home in Delhi NCR within 50 lakhs.
5 Best Areas To Buy An Affordable House In Delhi NCR
Known as the lifeline of Ghaziabad, NH-24 has played a pivotal role in the development of many areas that lie along its stretch. Siddharth Vihar near NH- 24 is an emerging investment location, which caters to the needs of modern homebuyers at affordable prices.
Average property value in housing societies along NH-24 hover around Rs 3,700 per sq ft, after an almost 15 percent YoY price hike in the recent past. According to the report, the areas alongside NH-24 have witnessed nearly 18% growth in the last five years and with the upcoming metro extension in Indirapuram, this region is likely to become a hotspot for property investment in the near future and one of the best places to buy a house in Delhi NCR.
Greater Noida West
Greater Noida West, earlier known as the Noida Extension, has become one of the most preferred locations for those who are looking to purchase a residential property in Delhi NCR at affordable prices. The extension of the metro link from Noida to Greater Noida has proved to be a catalyst for the growth of this area.
Besides, the settlement of land acquisition-related issues has set aside some major concerns of homebuyers. Furthermore, the foundation of much-awaited Jewar Airport and the excellent connectivity provided via the Noida-Greater Noida Expressway have added to the positives of this area.
Greater Noida West boasts a wide variety of property options. Along with the development of several affordable housing projects by leading developers like Gaurs and Mahagun, the pace of infrastructural development in this area has been impressive.
With a continuously rising demand of luxury housing as well as affordable residential properties in New Gurgaon, the region has emerged as a potential hotspot for real estate investment. Its strategic location and connectivity to NH8 make it an ideal location for both investment purpose and end-use. Besides, the upcoming Delhi-Mumbai Industrial Corridor (DMIC) is also expected to fuel the area’s growth in the next few years.
Raj Nagar Extension
Like many other regions in Ghaziabad, Raj Nagar Extension also witnessed a rapid growth in the past few years. Several homebuyers who are looking to buy a spacious and luxury property in NCR but unable to afford it prefer to choose Raj Nagar Extension.
Affordable housing projects, improved connectivity and recent infrastructural development make this area a haven for modern homebuyers.The six-lane Meerut Bypass connects Raj Nagar Extension with two major highways – NH 91 and NH 58.
With the extension of Delhi Metro’s violet line from Badarpur to Raja Nahar Singh station, connectivity is no longer a barrier for several areas of Faridabad that used to be considered as remote. With revived interest, investors have begun to look at several sectors in Faridabad. Nehar Par is one such area in Faridabad that is witnessing a rapid development with property prices pegged around Rs 4,100 per sq ft.