Difference Between NCT And NCR Real Estate Market

Not many people know that National Capital Territory and National Capital Region stands for two different geographical limits. Politics, administration, taxation and even the real estate of these two concentric regions are different and have different rules and regulations to abide by. Here are some of the basic differences between the National Capital Territory (NCT) and the National Capital Region (NCR) and their real estate market that home buyers should know about.

NCT Vs NCR geography

NCT is a special Union Territory of India, administered by the Union Government and the elected government of NCT. It consists of the metropolitan area of Delhi along with nine districts and 59 census town and 300 villages. The administrative agencies of NCT are Municipal Corporation of Delhi, New Delhi Municipal Corporation, and Delhi Cantonment Board. NCR stands for National Capital Region and comprises of the regions around Delhi which include cities like Gurgaon, Faridabad, Noida, Ghaziabad etc. The NCR region has been expanded to include suburbs of New Delhi such as Sonipat, Bahadurgarh, Meerut etc. NCR does not have any legal jurisdiction and has gained prominence as a satellite town to decongest the national capital and develop adjacent areas as a part of metropolitan to distribute the population.  While Noida and Ghaziabad fall into Uttar Pradesh, Gurgaon and Faridabad are part of Haryana state.

NCT Vs NCR property market

There are vast differences between real estate market of Delhi metropolitan regions and NCR property market. Each of the region falling under NCR is governed and covered under their state Real Estate Regulatory Authority. For instance, Noida comes under the ambit of Uttar Pradesh RERA while Gurgaon comes under the Haryana RERA. NCT of New Delhi has its own RERA for which the rules were notified by the Union Urban Development Ministry. Another stark difference between their property market is the rules and regulations.

Also read: 5 Most Expensive Localities In NCR

The government of NCT does not allow colonisation in Delhi, unlike Gurgaon and Noida where real estate developers have been coming up with their own massive townships. Apart from this, the property market of NCT has limited choices where the affordable properties can be mapped only in illegal colonies of DDA colonies where infrastructure has not been developed yet. Rest of the real estate hubs of NCT such as Greater Kailash I, Khan Market, Safdarjung Enclave, Hauz Khas, Mayur Vihar have properties at higher price points. In fact, NCT has some of the trophy properties that have attracted investment worth crores from HNIs.

NCR, which comprises of satellite town, offers properties at lower price points that end-users can afford. Most of the development in NCR is happening in these suburban locations due to the availability of employment opportunities; land for residential development and to reduce the pressure on the existing infrastructure of the national capital. Noida Extension, also known as Greater Noida West, caters to thousands of home buyers, Noida Expressway, Dwarka Expressway, Sector 70s in Gurgaon, Indirapuram in Ghaziabad are some of the housing hubs of NCR.

While the NCT of Delhi is struggling for more open space, this is the reason end-users and investors are opening up to investment in search of better lifestyle in satellite towns where luxury housing has also gained traction to cater to the upper-middle class segment along with amenities such as parking, kids' play area, club house, community building which are not available in the main city.

 With infrastructure at par with the national capital, better management, administration, improving law and order, the investors and end-users who earlier averted suburbs for their housing needs have started moving to suburbs of Noida and Gurgaon where quality housing is available and is value for money.

Also read: How FNG Expressway Will Change NCR Real Estate Market