By Abhay Ray 
Introduction
The next five years (2025-2030) could prove to be a milestone for the real estate sector in Uttar Pradesh. With the rapidly changing urban landscape, infrastructure development, and industrial investment, many cities in the state are set to witness skyrocketing land prices. There is a strong possibility that land prices in select cities could double within the next five years. But the question remains: which cities are poised for this kind of growth, and what are the reasons behind it? Let’s explore those cities where your investment dreams could turn into reality.
- Jewar (Jewar Airport)
Jewar is becoming a hotspot for investment due to the ongoing construction of the Noida International Airport, which is expected to open by 2025. The expansion of the Yamuna Expressway, metro connectivity, and the development of an international film city are adding to its attractiveness.
- Current Situation: Over the past five years (2020-2024), land prices in Jewar have risen from ₹5,000 per square foot to ₹7,000 per square foot, reflecting a 40% increase. Experts predict that by 2030, land prices could reach ₹10,482 per square foot, representing a 50-60% rise compared to current prices.
- Possibility: If the development continues at the same pace and the airport is completed on time, prices could even double in some areas, particularly near the airport and expressway.
- Ayodhya
With the construction of the Ram Mandir and its inauguration, Ayodhya has gained significant tourism and religious importance. The government is working on developing Ayodhya into a major pilgrimage destination, with investments in the airport, railway station, and road networks. A proposal to increase the circle rate by up to 200% in 2024 is also in the pipeline.
- Current Situation : In recent years, land prices in Ayodhya have surged rapidly, particularly in areas surrounding the temple, where prices have tripled.
- Possibility : With the ongoing development of tourism and infrastructure, land prices in Ayodhya are expected to double within the next five years, especially around the temple and major roads.
- Noida & Greater Noida
Noida and Greater Noida have already established themselves as major real estate hubs. The upcoming Jewar Airport, metro expansion, and semiconductor plants are further enhancing their potential. Additionally, the proximity to Delhi-NCR makes these areas even more attractive.
- Current Situation: In the past five years, property prices in Noida have surged by about 88%. For instance, the price per square foot on Noida Expressway increased from ₹5,075 in 2019 to ₹8,400 in 2024.
- Possibility: In the next five years, certain micro-markets (like Sector 150 and areas near the Yamuna Expressway) could see their prices double, driven by rising investment and demand.
- Lucknow
As the capital of Uttar Pradesh, Lucknow is witnessing a steady growth in real estate. Government projects, the development of IT hubs, and better connectivity (like the modernization of Charbagh Railway Station and expressways) are driving property prices up. Areas like Gomti Nagar and Shaheed Path are becoming popular among investors.
- Current Situation: In recent years, property prices in Lucknow have been stable yet steadily increasing. In Gomti Nagar, the circle rate is around ₹40,000-₹60,000 per square meter.
- Possibility: Over the next five years, property prices in key areas could double, particularly if IT sector growth and smart city projects gain momentum.
- Ghaziabad
Being part of the Delhi-NCR region, Ghaziabad has seen increased demand due to better connectivity via the Rapid Rail (Delhi-Meerut Corridor), metro expansion, and industrial development. Areas like Raj Nagar Extension and Indirapuram are favored by investors.
- Current Situation: In the past five years, property prices in Ghaziabad have increased by 55%, from ₹3,260 per square foot in 2019 to ₹5,050 in 2024.
- Possibility: Over the next five years, some areas in Ghaziabad could see prices double due to enhanced connectivity and urbanization.
- Agra
Agra, known for the Taj Mahal and its tourism industry, is gaining attractiveness as a real estate investment destination due to improved connectivity through the Agra-Lucknow Expressway and the proposed Jewar Airport.
- Current Situation: Land prices in Agra are relatively lower at present, but demand is on the rise.
- Possibility: Over the next five years, the combination of tourism growth and improved connectivity could lead to a doubling of land prices in some areas.
Key Factors Driving the Growth
- Infrastructure: The progress of airports, expressways, metro, and railway projects is a major factor boosting land prices.
- Industrial Development: The establishment of semiconductor plants, film cities, and IT hubs contributes to the growth in demand for land.
- Urbanization: The rapidly growing population in tier-2 cities and the increasing availability of amenities are creating a favorable environment for investment.
- Government Policies: Changes in circle rates and policies promoting investment play a crucial role in driving up property prices.
- Demand & Supply: Growing interest from NRIs, HNIs, and local investors is pushing up land prices.
Conclusion
Cities like Jewar, Ayodhya, Noida-Greater Noida, Lucknow, Ghaziabad, and Agra in Uttar Pradesh are expected to witness rapid growth in land prices over the next five years, with some areas possibly seeing their prices double. Jewar and Ayodhya, in particular, are strong contenders due to large-scale ongoing development projects. However, these predictions are subject to market fluctuations, government policies, and global economic conditions. Before investing, it is essential to conduct thorough local research and seek expert advice.
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