January 29, 2025 |
Gurgaon Saw Record Rs 88k-Cr Realty Investment and a Rise in Luxury Housing Projects in 2024
The real estate sector in the city achieved a milestone in 2024, with Rs 88,144 crore invested across 124 projects — the highest annual investment recorded since the establishment of Haryana RERA in 2017.
The regulatory authority helped reshape the real estate landscape through measures that ensure transparency, accountability and timely project delivery, an official said.
This figure — Rs 88,144 crore — nearly doubles the Rs 45,226 crore invested in 2023, underscoring the city’s status as a premier real estate destination, according to data shared by Haryana Rera.
Since its inception, Rera Gurgaon registered 877 projects, attracting a total investment of nearly Rs 3 lakh crore.
Rera chairman Arun Kumar highlighted a significant shift in the market towards luxury real estate. “We notice a distinct shift in favour of the luxury segment in the Gurgaon real estate market. The investment is soaring and we have about 34 projects with an investment of more than Rs 1,000 crore each in 2024. The number of such projects since 2017 — including carry-forward and new registrations between 2017 and 2023 — is 27,” he said.
Kumar said, “We are on the cusp of a new era and new horizons in real estate investment. With the Rera regime settling down, it should be value for money for the consumers and the city will become the most sought-after destination for quality living. The new projects guarantee good amenities and facilities matching the best in business.”
The city’s real estate market grew consistently, with the exception of a slowdown during the pandemic years. Robust infrastructure, including highways and connectivity, has been a critical factor in driving this growth.
Developers credit RERA’s regulatory framework for boosting investor confidence and driving timely project completions. Strict monitoring of quarterly and annual progress reports created a balanced ecosystem for stakeholders. Central Park president (sales, marketing & CRM) Ankush Kaul said, “Gurgaon firmly established itself as a top destination for high-net-worth investors, thanks to its prime location, world-class infrastructure and exceptional amenities.”
“The city’s proximity to key business hubs and improved connectivity, like the Dwarka Expressway, enhance its appeal. The market’s robust demand is evident in the remarkable 55% year-on-year surge in under-construction luxury property values in 2024. This substantial appreciation underscores Gurgaon’s immense potential for significant returns and solidifies its position as an investment hotspot for those seeking both capital growth and an extraordinary living experience,” Kaul said.
GLS Group director Surinder Singh said, “The stringent guidelines introduced by RERA significantly improved project completion rates and increased homebuyer confidence. Gurgaon’s infrastructure growth, coupled with RERA’s regulatory framework, made it a magnet for both end-users and investors.”
Source : TOI
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