As infrastructure corridors redraw the geography of growth across NCR and emerging Tier-II cities, real estate demand is becoming less about legacy addresses and more about connectivity, mobility and ecosystem depth. In this conversation, Paras Rai, Managing Director and Co-Founder of Property Master, reflects on how buyer psychology is evolving, how developers are recalibrating strategy, and why infrastructure-led growth is shaping a more mature, data-driven investment cycle.
Over your journey with Property Master, how have you seen buyer priorities shift from address-driven decisions to connectivity and ecosystem-focused investments?
Having entered real estate with a commerce background from Delhi University and an IT diploma, I’ve always viewed property through a financial and data lens rather than pure sentiment. A decade ago, buyers chased legacy addresses for social signalling; the right pin code implied status. Today, particularly across NCR, decisions are far more pragmatic. Connectivity, commute efficiency, and ecosystem depth drive value perception. The shift is visible: from “Where is it located?” to “How efficiently does it function?” Post-pandemic mobility patterns only accelerated this evolution toward structured, connectivity-led investing.
As consultants, how do you guide clients in evaluating connectivity-driven investments beyond marketing narratives and headline infrastructure announcements?
Headline infrastructure announcements create excitement, but we advise clients to look beyond intent and study execution timelines, budget allocations, and current on-ground progress. Connectivity only translates into value when delivery risk is low. We assess three layers: physical connectivity (roads, metro, airports), economic anchors (corporate presence, retail density), and social infrastructure depth. We also analyse absorption rates, price appreciation trends post-infrastructure delivery, and rental velocity. As seen in a report by Cushman and Wakefield, Delhi-NCR recorded 10,245 new residential unit launches in Q3 of 2025, marking a 12% rise over the previous quarter. New Gurugram and Dwarka Expressway regions emerged as the most active submarkets, accounting for 23% and 20% of launches, respectively, while Greater Noida contributed 14%. This kind of data validates where momentum is actually building, and not just where it is being marketed. We encourage clients to treat infrastructure as a value catalyst, but only after stress-testing timelines, ecosystem depth, and price sustainability. In today’s cycle, discipline matters more than excitement.
How are developers recalibrating their land acquisition strategies, product planning, and pricing models in response to infrastructure-led expansion and emerging micro-markets?
Developers today are far more strategic in land aggregation. Instead of chasing saturated core markets, they’re entering pre-growth corridors aligned with infrastructure visibility. Land is being secured closer to upcoming mobility nodes rather than established CBDs. Besides, product planning has become ecosystem-sensitive; mixed-use formats, integrated retail, and community amenities are now standard. Pricing models are phased and data-driven, often aligned with infrastructure milestones.
With infrastructure projects accelerating across NCR and Tier II markets, how do you see the broader real estate industry evolving over the next 3–5 years in terms of demand patterns, pricing stability, and investor confidence?
Over the next three to five years, I see a geographically wider growth cycle rather than a speculative spike. Demand will continue to decentralise toward well-connected peripheral nodes. End-user participation will remain strong, particularly in mid and upper-mid segments. Pricing, in my view, will stay firm but measured, supported by infrastructure-backed absorption rather than investor-led exuberance. Tier-II cities with airport and expressway upgrades could see structured appreciation.
In your view, is connectivity today a stronger determinant of property value than the brand legacy of a micro-market? How should buyers evaluate this shift while making long-term investment decisions?
Connectivity today often outweighs legacy, but only when it is functional and future-ready. A prestigious address without mobility efficiency can stagnate. Conversely, a well-connected emerging corridor can outperform once ecosystem depth builds. However, this is not a binary shift. Buyers must assess long-term livability, developer credibility, infrastructure completion certainty, and demand sustainability. We encourage clients to evaluate replacement cost economics, five-year infrastructure visibility, and demographic movement patterns.
