After a flattened period driven by a slowdown in appreciation rate & higher inventory overhang, Gurgaon real estate market might be up for a recovery by Q2, 2016. The new euphoria in the market will be fueled by lowering EMI & availability of liquidity in the market. The recovery in the market will be further driven by the implementation of RERA & the rising awareness in the buyer segment towards the primary real estate.
In terms of nature transaction, there will be a dominance of end users over investors. In terms of size, big units, especially 3BHK will sway over the other types. There will be the negligible launch of smaller units, as there is a dearth of demand for smaller apartments such as 1BHK & studios.
The mid-term prospects of Gurgaon real estate will also get a boost from the neutralization of legal hurdles in Dwarka Expressway. With this, the major project is up for construction & will be soon operational post construction. Similarly, the legal doldrums surrounding around South Peripheral Road (SPR) has also been sort out. The operationalization of major artilleries such as SPR & Dwarka Expressway also called as North Peripheral Road (NPR) will be a major push to the real estate industry in nearby locations. Other notable infrastructure will include, Sohna-Badshahpur flyover & cloverleaf flyover on Hero-Honda Chowk.
In terms of micro-markets, Sohna will be amongst the most sought after micro-market in the region. Priced at INR ~4,250/Sq. Ft., Sohna is priced cheaper than most of the other major micro-markets in Gurgaon & hence offer higher scope for price appreciation. Most of the major developers in Gurgaon such as Central Park, Ireo, Raheja, Ashiyana & Supertech are coming up with new projects in Sohna.
Through Sohna road & Golf Course Extension Road, it is conveniently connected to other parts of Gurgaon. Its proximity to Huda City Center Metro Station (~25 minutes) further makes it accessible. To various parts of Delhi-NCR. Due to the availability of large land banks, there is the possibility of more developments & construction activities, thereby adding further attractiveness to the market dynamics.
