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NCR sees highest land appreciation since 2019, 38% rise on Yamuna Expressway

Gurgaon, July 21, 2022: Plotted developments have gained significant traction as an investment asset class in the post-pandemic world. Since 2020, several large and listed developers have been offering plots, leading to growth in demand and prices across major micro markets in the top cities.

ANAROCK data shows that the top 7 cities (Bengaluru, Chennai, Hyderabad, Pune, Kolkata, MMR and NCR) have witnessed new plotted developments supply since 2020 and saw decent appreciation over the last 2.5 years.

Out of the multiple micro markets across top 7 cities, the top 3 with maximum appreciation are all in NCR:

  • Yamuna Expressway saw the highest rise of 38% in average plot prices – from Rs 1,600/sft in 2019 to Rs 2,200/sft by H1 2022-end 
  • Greater Noida (West) saw a 36% rise in avg. plot prices – from Rs 3,300/sft by 2019-end to Rs 4,500/sft by H1 2022-end 
  • Neharpar in Faridabad saw a 29% rise in the same period – from Rs 3,500/sft by 2019-end to Rs 4,500/sft by in H1 2022-end 
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Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Plots have become a hot ticket for property investors on the post-pandemic marketplace. Undoubtedly, well-chosen land offers higher returns on investment when compared to apartments. Average plots prices across India’s major cities, and especially in NCR, rose considerably over the last two-and-half years.”

Unlike earlier, many large developers now offer this property type and have increased the overall supply of this typology. This is no longer the stronghold of smaller, unorganized players seeking to liquidate land they cannot develop. With the advantage of branding, plotted developments have become respectable, and most buyers prefer to deal with the bigger names. 

Today, this option is being offered by developers like DLF Ltd., Raheja Group, Godrej Properties, Century Real Estate, Puravankara’s Provident Housing, Shriram Properties, Goel Ganga, TVH, and Alpha Corp, among others.

City-wise Trends


Average prices of plots across multiple localities in the top 7 cities have witnessed good growth since 2019:

  • In Bengaluru, the top 3 micro markets to see land price growth since 2019 are Devanahalli (18%), Attibele (24%) and Doddaballapur Road (18%)
  • In Chennai, Poonamallee saw 22% growth in average plot prices, followed by Tambaram with 25% growth, and Navallur with 20% growth
  • In Hyderabad, avg. plot prices in Medchal, Adibatla and Ghatkesar saw 21%, 24% and 26% growth respectively 
  • In Kolkata, Howrah saw a 20% rise in plot prices, Barasat-Madhyamgram saw a 18% increase, and a 24% price rise in Garia
  • In Pune, the top 3 micro markets to see plot appreciation are Hinjawadi with 24%, Chakan with 18% and Manjri with 18% price rise
  • In MMR, the top 3 markets to see plot appreciation are Shahapur with 22%, Boisar with 18% and Neral with 17% price rise
  • and Neral with 17% price rise
CitiesTop Micro MarketsAvg. Prices of Plots (2019) INR/sq. ft.Avg. Prices of Plots (H1 2022) INR/sq. ft.% Change (2019 Vs 2022)
BengaluruDoddaballapur Road2,0002,35018%
NCRNeharpar, Faridabad3,5004,50029%
NCRGreater Noida West3,3004,50036%
NCRYamuna Expressway1,6002,20038%

Source: ANAROCK Research