| | JUNE 20269CHRONICLESHOMESCHRONICLESHOMESdwelling units, have steered the movement to suburban and peri-urban markets. The current suburban homebuyer is concerned with cheaper housing prices outside of metro cities, quality of life, the availability of green spaces, and enhanced value of money, which is a strong pointer to real estate realignment in the long run. "Urbanization is no longer metro-centric and is moving into high-potential micro-markets." - Manoj Gaur, CMD, Gaurs. New Urban Suburbs: Hotspots of the Urban Core In India, many suburbanized areas have developed beyond emerging centres into strong real estate centres. National Capital Region (NCR): Greater Noida West, Ghaziabad (especially around NH-24) and the sectors of Faridabad close to the Dedicated Freight Corridor have become the favourite areas of the middle-income buyers. Investment appeal has been strengthened by affordable housing schemes, commendable building infrastructures and high rental demand. Bengaluru's Outer Ring: Areas such as Kanakapura road, Hoskote and Devanahalli have experienced an influx of attention since they are close to IT parks, new airport expansion and various industrial hot spots. The suburban living here has been reconfigured with mid-segment housing projects and integrated townships. Chennai Suburbs: Oragadam, Sriperumbudur and Kelambakkam are drawing in investors and end-users. These corridors have good manufacturing demand, future expressways, and better social infrastructure. Pune's Strategic Belt: As intended, Hinjewadi, Wagholi and Talegaon have become popular and prosperous suburbs with good accessibility to IT/ITES centers, cheap housing and well-educated schools. "Real estate growth is directly proportional to infrastructure development." - Kirthi Chilukuri, MD & CEO, Stonecraft Group. Hyderabad's Peripheral Hubs: Such localities like Narsingi, Shankarpally and Adibatla are increasingly coming into the limelight as they are strategically located around major areas of employment and fast retail and township construction. The suburban value of real estate is usually influenced by the development of infrastructure. With the widening of transport corridors, suburbs that could be thought of as far away are now reachable: · Metro Rail Extensions: Projects such as the Metro rail extensions of the NCR to Greater Noida and Gurgaon have greatly made the life of the people easier in terms of transportation hence the suburban houses now seem more appealing to the daily commuters.
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