Naugaon and Hapur in NCR, Khopoli and Karjat in Maharashtra, as well as Chikkaballapur and Channapatna in Karnataka are emerging as affordable new destinations for horizontal real estate development, with developers selling plots and farmland.
As real estate in metro areas becomes more expensive, buyers are searching for new locations within a reasonable driving distance from major cities.
“We are witnessing this trend across India as city land prices soar. Increased construction costs are prompting developers to pivot towards horizontal development, which is thriving as buyers with budgets of ₹50 lakh to ₹2 crore find it increasingly difficult to purchase in urban areas,” stated Shauzab Kazmi, director at Moneytree Realty.
Bengaluru’s Greenlakes startup, after successfully completing a 100-acre farmland project near the city, is now launching another project following strong demand.
“Initially, post-Covid demand predominantly came from corporates seeking remote work locations, but now individuals are looking to escape city life for a few days each month. Both luxury and mid-segment buyers are actively pursuing this market,” explained Almas Johari, CEO of Greenlakes.
According to Amit Agarwal, founder and MD of 2A Company, there’s a heightened interest in locations like Hapur due to their accessibility to highways connecting to Delhi.
Aranyaka, based in NCR, is developing a farmland project in Naugaon, about 1-1.5 hours from Delhi and Gurgaon via the Delhi-Mumbai Expressway, focusing on second homes easily reachable from urban centers.
Realty developer Central Park has acquired 120 acres in Naugaon for a wellness-centered farmhouse project.
NeoLiv, a residential investment platform, has entered a management agreement for developing 47 acres of prime land in Khopoli, Maharashtra, while Godrej Properties has purchased around 90 acres in Khalapur, Raigad.
This segment is also attracting institutional investors.
