Three real estate investment hotspots for Rs 50 lakh in NCR

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The NCR cities of Gurgaon, Noida and Ghaziabad still have a number of residential properties under Rs 50 lakh. Here are three locations, which you could consider from a 3-5 year investment horizon.

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Sector 92, Gurgaon: As a developing area, Sector 92 in Gurgaon holds a promising future. It is accessible from the NH-8 as well as Pataudi Road. At present, some stretches, which connect this sector to the main roads, do not have proper roads and street lights, but the picture is expected to change once more and more people start moving into the surrounding areas. At present, there are several real estate projects that are near completion.

However, the area has a long way to go in terms of metro rail connectivity. IFFCO Chowk Metro Station, which is the nearest, is at a distance of almost 15km. Though this sector is a part of the Gurgaon Master Plan 2021, which indicates that the area will get the necessary infrastructure.

The price of a 1,000 sq ft apartment in a multi-storey project ranges between Rs 48-50 lakh in this area.

Sector 120, Noida:
It is a well-connected area with wide roads. Some large residential real estate projects have already given possession in the past few months and some are at the final stages of completion. A number of families have already moved into this area and there is limited availability of ready-to-move-in apartments in the resale market.

The sector enjoys easy accessibility to prestigious schools, hospitals and shopping centres. The nearest metro station, Noida City Centre, is located at a distance of 5km.

In Sector 120, the price of a 1,000 sq ft apartment in a multi-storey project would start from Rs 42 lakh onwards.

Vaishali, Ghaziabad:
This location offers a number of options in both under-construction and ready-to-move-in properties. One can find a 1,000 sq ft single floor or an apartment in a multi-storey building within Rs 38-45 lakh.

“Vaishali has its own metro station and thus, is connected to all major parts of New Delhi, Noida and Gurgaon. Not just metro rail, it is well-connected through roads as well,” says Vijay Kharbanda, a city-based real estate agent.

Vikram Jethwani, Bureau