November 2, 2024 |
Gurugram Emerges as a Preferred Destination for Luxury Real Estate Market in Delhi-NCR
Gurugram has strengthened its position as one of the leading luxury real estate destinations in the Delhi-NCR. This has been possible due to rapid urbanization, infrastructure upgrades, and a growing demand for premium housing. According to the CBRE report, sales of homes priced over Rs 4 crore surged by 38 per cent between January and September 2024 across top cities in the country.
Real Estate Companies in Gurugram
Several listed developers such as DLF, TARC, Max Estates, and Signature Global have launched landmark projects in Gurugram . Meanwhile, M3M, Smartworld, Trident Group, Central Park, and Paras Buildtech are also in the process of launching new housing projects across the city.
Among the most significant launches is DLF’s Dahlias. According to PTI, the realty major is expecting Rs 26,000 crore in revenue from its new super-luxury project in Gurugram at the current selling price. The company has done a pre-launch of its 17-acre super-luxury housing project The Dahlias at DLF 5, Gurugram, and has received a good response from the customers.
Vivek Singhal, CEO of Smartworld Developers, remarked, “The Gurugram real estate market is already heating up in anticipation with areas Golf Course Extension Road and Dwarka Expressway emerging as prime hotspots. These regions are attracting affluent buyers with their unmatched connectivity, thriving commercial hubs, and strategic urban planning, driven by robust infrastructure upgrades and a growing demand for luxury homes. “
Earlier this year, Smartworld Developers sold all 900 residential units of their latest luxury project, ‘Smartworld Sky Arc,’ featuring high-end apartments priced between Rs 4-5 crore each. The project witnessed an overwhelming response from buyers, with all units sold out within a mere 36 hours of receiving RERA approval.
Gurgaon’s share in the NCR residential market remains strong, as developers like Max Estates and Signature Global report record-breaking pre-sales. According to an Anarock report, the city continues to perform well in Q3 2024, driven by strategic new launches, improved connectivity, and premium amenities, which collectively attract high-end buyers to the region.
Kunal Rishi, COO of Paras Buildtech, said, “We have recently witnessed a strong surge in demand for luxury condominiums, particularly in Gurugram. With growing aspirations and an increasing preference for high-quality living, buyers are now more inclined toward exclusive properties that offer a superior lifestyle and world-class amenities. This shift in buyer preferences is driven by factors such as enhanced economic stability and the rising number of high-net-worth individuals.”
Rahul Singla, Director, Mapsko Group said “In recent years, the residential market in Gurgaon has witnessed exponential growth. Regions in and around New Gurugram, Sohna, Dwarka Expressway, SPR, and Golf Course Extension have emerged as residential real estate hotspots, and the most coveted land parcels across the entire NCR. Extrapolating current market trends, along with growing demand across both luxury and affordable housing segments, it can be forecasted with reasonable certainty that this accelerated growth in the residential market in Gurgaon will continue in the near perceivable future”.
The festive season has provided a major boost, as Shashank Vashishtha, Executive Director of Exp Realty India, explained, “The festive season has further bolstered demand, with many buyers eager to invest in luxury projects during this auspicious time. Gurugram’s well-planned layout, strategic location, and robust social infrastructure make it one of Northern India’s most sought-after realty destinations. The booming commercial sector is driving residential development, and the city’s appeal is further boosted by its status as a hub for MNCs and Fortune 500 companies, drawing the affluent from across the NCR.”
Source : ET Now News
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