October 8, 2024 |
Gurugram’s Residential Prices Surge by 76% in Just 2 Years – Check the Rates in Prime Areas
Residential prices in Gurugram have increased significantly, despite residential demand increasing by a moderate 9.9% QoQ.
With increasing demand, the prices of ready-to-move apartments have increased 12.9% QoQ to touch Rs 13729 psf while prices of under construction apartments have increased 17.3% QoQ to touch Rs 16180 psf. (Image: Freepik)
Amidst growing residential demand in the city, average prices in Gurugram have increased a whopping 76% in two years and 15.5% QoQ to reach Rs 14650 psf between July and September 2024, according to Magicbricks’ latest PropIndex Report.
The report further noted that prices have increased significantly, despite residential demand increasing by a moderate 9.9% QoQ. The supply grew by 18.3% QoQ, with an influx of new listings driven by increased market activity and new project launches.
The completion of major infrastructure projects, especially the Dwarka Expressway, continues to enhance Gurugram’s appeal, boosting demand in newer sectors with better connectivity to Delhi. As prices in core areas remain high, these emerging sectors are attracting attention, offering relatively more affordable options while maintaining proximity to key business hubs.
Further, with increasing demand, the prices of ready-to-move apartments have increased 12.9% QoQ to touch Rs 13729 psf while prices of under construction apartments have increased 17.3% QoQ to touch Rs 16180 psf.
Based on customer searches, the report stated that 3 BHK units dominate with 66% of the demand. Average prices of 3BHK apartments have increased 21.6% QoQ to reach INR 14600 psf.
Further, Builder floors command an average rate of Rs 12,700 psf, multistorey apartments stand at Rs 13,200 psf, residential houses at Rs 16,100 psf, and luxurious villas are available at Rs 25,600 psf.
The report also elaborated that Dwarka Expressway, New Gurgaon and Golf Course Extension are the most searched areas.
According to PropWorth tool, average residential rate in Dwarka Expressway is Rs 14800 psf, Rs 12600 psf in New Gurgaon and Rs 17000 psf in Golf Course Extension.
Source : FE
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