For years, premium in real estate was easy to define. It meant a better address, more space, a recognisable name behind the project. That worked for a long time.
But that definition is starting to fall short.
In the last couple of years, especially after the pandemic, the nature of buyer conversations has changed. People are not just asking what they’re buying, they’re asking how it will hold up over time. How expensive will it be to run? Will it stay liveable? Does it actually improve daily life?
These are not abstract concerns anymore. They’re practical ones.
It’s Not About Luxury Anymore
Sustainability has quietly moved into that conversation. Not in a dramatic way, but steadily.
What used to be seen as a “green feature” is now being evaluated as a cost and value factor. Energy efficiency, water usage, ventilation, open space, all of these are being looked at more closely than before.
Knight Frank’s recent work on ESG in Indian real estate reflects this shift. There is a clear preference building up for assets that are better aligned with these principles¹. It’s not just about compliance. It’s about long-term viability.
Why the Shift Is More Visible in Tier-II NCR
Interestingly, this change is easier to see in places like Sonipat and Kundli than in core city areas.
Part of that is because connectivity is no longer the barrier it used to be. With the KMP Expressway and the RRTS corridor coming up, these locations are far more accessible than they were even five years ago². For a lot of buyers, that changes the equation.
But connectivity alone doesn’t explain it.
The bigger reason is that these markets still have room to get things right.
The Advantage of Starting Clean
In Delhi or even parts of Gurgaon, development often works around existing constraints. Land is limited, planning is reactive, and sustainability tends to come in later.
In Sonipat or Kundli, you don’t have that problem to the same extent. You can plan from scratch. You can think about density, open areas, water systems, energy use, all at the design stage instead of trying to retrofit it later.
That difference shows up over time, not just visually, but financially.
The Numbers Are Starting to Reflect It
There’s enough data now to suggest that this isn’t just a feel-good trend.
Deloitte’s 2025 work on sustainable real estate makes a fairly straightforward point. Buildings that are more efficient tend to cost less to operate and, over time, tend to perform better as assets³.
That matters to both investors and end users.
We’re already seeing buyers in these emerging NCR markets willing to pay slightly more upfront if the trade-off is lower running costs and a more predictable living environment. It’s not always articulated that way, but the intent is clear.
A Different Kind of Buyer
There is also a behavioural shift that’s hard to ignore.
The buyer today is less speculative than before. There’s more focus on end use. People are thinking about where they will actually spend their time, not just what they can exit from in a few years.
That naturally brings attention to things that were earlier overlooked. Air quality, congestion, access to open space. You see this come up repeatedly in site visits and discussions.
Where This Leaves Developers
For developers, this creates a fairly sharp divide.
Projects that rely only on pricing or short-term positioning will find it harder to stand out. There’s too much supply for that approach to keep working.
On the other hand, developments that are planned with a longer view, especially around sustainability and infrastructure integration, are likely to hold their ground better.
Sonipat and Kundli are interesting in this context. They are no longer just extensions of NCR. In some ways, they are early indicators of where the market is heading.
And if there’s one thing that seems increasingly clear, it’s this.
Green is no longer a differentiator. It’s quietly becoming the baseline.
