Sales of residential properties have increased consistently in Gurugram, from accounting for less than one-third of all residential units sold in NCR in 2019 to accounting for more than half despite the fierce rivalry from neighbouring NCR areas like Faridabad, Greater Noida and Noida.
In 2022, Gurugram accounted for 51% of the total apartments sold in NCR, according to reports led by real estate consultant Anarock. Prior to that, Gurugram’s share in the real estate market related to the sale of residential units was 39% in 2021, 31% in 2020, and 28% in 2019, showing an upward trend from those years.
Out of 63710 properties in NCR, the city of Gurugram registered the transaction of a total of 32,620 units of new residential units in 2022. The city was also leading far ahead of its counterparts in the total number of new residential units launched in the NCR when it came to the total number of new residential units launched in the NCR region at 19,000 properties out of 25,355.
In 2021, Gurugram sold a total of 15,590 residential properties, accounting for 39% out of the 40,040 units sold in the NCR.
According to Rohit Mohan, Senior Vice-President of BPTP Group, “Due to the significant presence of multinational corporations (MNCs) and Fortune-500 businesses, Gurugram has established itself as a worldwide recognised investment destination. The city’s robust real estate industry is proof of its expansion and improvement. In Gurugram, residential and commercial real estate are seeing increased capital influx.
Optimal employment market growth, according to Mohan, has made it possible for investors to imagine their future lives in the city on a foundation of numerous prospects for growth that are symmetrically rising in all spheres.
The Dwarka Expressway has grown to be Gurugram’s most valued residential investment corridor, according to Nayan Raheja of Raheja Development. The region’s potential for capital growth has increased dramatically. The Dwarka Expressway’s big-ticket global metropolis project, which will be created as a cutting-edge corporate hub, has also increased the region’s worth.
“Homebuyers in North India prefer plots they can customise to their needs,” said Ashwani Kumar of Pyramid Infratech. The DDJAY will likely improve options for citizens to buy a plot or independent floor in the city, which would certainly boost demand for real estate in Gurugram. The change has opened up more prospects for real estate development, resulting in more job opportunities, economic growth, and citywide development.
The return of investors to significant micro-markets like Sohna Road, Golf Course Extension Road, and the Dwarka Expressway, according to Rajesh K Saraf, MD of Axiom Landbase, is a factor in Gurugram’s growth.
Due to the completion of long-delayed infrastructure projects, like the Sohna Elevated Road, the soon-to-be-completed Dwarka Expressway, and a critical section of the Mumbai-Delhi highway, Saraf claimed that these locations have been drawing buyers and investors.
Gurugram has been the hub for multiple unicorn start-ups and Fortune 500 companies contributing to the city’s massive development and infrastructure. As a result, the demand for residential and commercial plots has been rising, and they’ll continue to do so in upcoming years.
