Housing sales in Gurugram have surged dramatically, exceeding Rs 1.07 lakh crore in 2024, indicating strong demand for luxury homes. The Delhi-NCR region also saw a significant increase in residential property sales, rising by 63% year-on-year. Major developers like DLF and Godrej Properties have contributed to this remarkable growth.
- Gurugram’s housing sales reached Rs 1,06,739 crore, up from Rs 64,314 crore in 2023.
- The entire Delhi-NCR market saw residential sales increase to Rs 1,53,000 crore in 2024.
Gurugram’s Real Estate Boom
The Gurugram housing market has experienced an impressive resurgence, with sales soaring by 66% to nearly Rs 1.07 lakh crore last year. According to PropEquity, a prominent real estate data analytics firm, the total housing sales in Gurugram escalated from Rs 64,314 crore in 2023 to Rs 1,06,739 crore in 2024. This remarkable growth reflects a robust demand for luxury residential properties in the area.
While PropEquity did not disclose the names of specific developers, industry insiders indicated that major players such as DLF, Signature Global, and Godrej Properties were among the top sellers in Gurugram. This surge is attributed to several factors, including improved infrastructure, a growing corporate presence, and an increase in employment opportunities. Property brokers emphasize that Gurugram has rapidly emerged as the preferred destination for both residential and commercial development.
Delhi-NCR Market Dynamics
The broader Delhi-NCR region also witnessed a significant uptick in real estate activity, with residential property sales soaring 63% to Rs 1,53,000 crore in 2024, compared to Rs 94,143 crore in the previous year. Samir Jasuja, Founder & CEO of PropEquity, commented on the rising prices, noting that the weighted average sales price has climbed to Rs 12,469 per sq ft.
Factors contributing to this growth include substantial infrastructure development and the influx of corporate offices, which have made the area increasingly attractive to homebuyers. The anticipated release of the Master Plan of Delhi MPD 2041 is expected to further bolster the real estate market by introducing new projects and residential supplies. Experts like Garvit Tiwari of InfraMantra underscore the city’s potential for high returns on investment, making it a hotspot for real estate investment.
Future Implications for Gurugram’s Housing Market
The surge in housing sales in Gurugram could have profound implications for the future of the real estate market in the region. As developers continue to respond to the increasing demand for luxury homes, we may see even more innovative projects being launched, catering to the evolving needs of homebuyers.
