India’s real estate industry has been seeing skyrocketing transaction volumes and demand over the last two years. While the sector is currently grappling with lower supply in several cities with higher demand, Gurugram stands out with its surge in demand throughout multiple segments. These include affordable homes, luxury properties, floors, plots, and independent homes.
Several reports indicate 28.9% of growth in property demand for Gurugram (QoQ), which is higher than the national average of 10.4%. This increase in demand may be due to the city’s status as a major technological and commercial hub along with its extensive workforce that requires top-notch housing options. Gurugram is one of the country’s foremost destinations for luxury housing as well. The Dwarka Expressway and Golf Course Extension Road are the biggest growth drivers in the city currently.
Owing to higher demand, several real estate developers are planning to come up with new projects soon, with many set to be launched in the upcoming festive season. Golf Course Extension Road is drawing investors and buyers due to its premier amenities and convenient location near major leisure and business hubs. It also offers proximity to top-notch commercial and social infrastructure. Anant Raj LImited has a sizable land bank in this zone and is planning to come up with several luxury housing choices in November this year. It already has a 200-acre residential township with various kinds of properties. Even AIPL Group has several projects in this stretch, including housing, retail, and Grade A office spaces.
Dwarka Expressway is also drawing buyers and investors with several housing options, including mid-segment projects. It connects to Delhi and offers great connectivity to the IGI Airport and other commercial hubs. Rahul Purohit, National Sales Head, Square Yards, states that Dwarka Expressway is a magnet for real estate developers with its easy connectivity to major zones like Golf Course Extension Road, Sohna Road, and Manesar. He also states that several new projects are being unveiled here with cutting-edge amenities and infrastructure to tap into the immense potential of the region to become Delhi-NCR’s most lucrative micro market. He also feels that Dwarka Expressway is a delight for homebuyers, particularly people looking to settle down in the next 3-5 years.
Several developers share the same opinion about the micro market. They believe that there will be higher growth momentum in the future with the completion of the final phase and the development of various connecting roads. Demand is not just being witnessed in the residential category, but also in the commercial and retail segments along the Dwarka Expressway. Ocus Group is already seeing high demand at its Ocus Medley project in Sector 99 while several Grade A office spaces are also being snapped up by leading companies on long-term leases. These are two locations that are at the top of the charts in the Gurugram real estate market currently and the trends should continue for quite some time to come as per several industry experts.
For a detailed report on this read the articles we were featured in:
Financial Express: https://urlis.net/mkzr3xf9
Published Date: Aug 30, 2023
