Gurugram has grown into a vibrant real estate hotspot over the years. Property markets in the city have been buoyed by demand for spacious homes, high-quality office space, and larger warehouses. With the growing trend of remote working, first-time buyers and homeowners are eyeing larger homes in Gurugram with modern amenities. In the age of hybrid work cultures and e-learning, people need more space for work and study, which drives up the demand for spacious homes and apartments in Gurugram. The realty market in Gurugram is on a growth trajectory with the demand reaching the pre-pandemic level. Consequently, investors’ and buyers’ activities have resumed in full force in the region.
A gated township in New Gurugram
Santosh Agarwal, CFO, and Executive Director, Alpha Corp said, “Gurugram’s real estate sector has witnessed massive changes over the past few years. Growing as a commercial- residential hub and a dream destination to invest in property, it has become the first choice of people to work and invest money in a property near to their workplace. The improvement in infrastructure like the broadening of NH-8, opening of Sohna elevated road, Golf Course Road, Dwarka Expressway, and operational rapid metro as well as plans of metro expansion, have proven to be beneficial for Gurugram.”
Furthermore, due to phased lockdowns and restrictions in movement, sales of luxury homes in Gurgaon grew steadily after the pandemic, as people realized the importance of owning a home with all the luxuries and comforts.
Pankaj Bansal, Director – M3M India said, “Delhi is squeezing in terms of availability of residential as well as commercial space, and on the other side Gurugram has been progressively emerging as much sought-after destination because of its connectivity, amenities, luxury residential projects, and state-of-the-art retail space. A systematic highways and roads network plan in Haryana, particularly in Gurugram, is expected to further give way to congestion-free traffic, giving much-desired relief & confidence to investors and end-users. The momentum has already started with the recent opening of the 22 km six-lane Sohna Highway, which includes a 7 km elevated section. Once the 29 km Dwarka Expressway becomes operational, which is expected by 2023, it would reduce travel time to Delhi International Airport and other parts of Delhi NCR.”
Boasted with strong infrastructural development and world-class amenities, Gurugram continues to enjoy increased interest from investors and end-users. The city has some magnificent premium and luxury properties across the residential and commercial segments.
Vinay Wadhwa, General Manager – Sales, Vatika Limited said, “Fast-growing corporations and start-ups are boosting the development of Gurugram. Its excellent connectivity to other cities, growing corporations, IT companies, and industries make it attractive for investors. Also, with Dwarka Expressway soon becoming operational, commute time to Delhi and the airport will be reduced. Likewise, KMP, SPR, Golf Course Road, the upcoming Delhi-Mumbai Expressway, and Rapid Metro will further make Gurugram an investment hotspot. Last but not least, infrastructural advancements in Gurugram and the increased demand for commercial properties have resulted in a thriving housing market in Gurugram, making it a popular choice for new home buyers in Delhi NCR.”
The demand for the commercial segment in Gurugram is also witnessing a surge with a growing number of investors and global brands seeking premium office space. Businesses intending to move their workforces back into offices and their expansion plans are fueling Gurugram’s office space segment.
Kaustubh Chandra, Manager, Marketing and Leasing, Brahma Group said, “Owing to various favourable factors, Gurugram has been a preferred choice for real estate investors and end-users. Despite the challenges imposed by the COVID-19 pandemic, the real estate sector quickly bounced back and regained its growth momentum. Gurugram’s commercial realty market has been performing quite well for the last year; the growing mix of Grade A office and retail space has been successfully dragging the investors’ and end-users’ interest. Numerous domestic and international companies are headquartered in Gurugram. Additionally, it is home to several Fortune 500 companies and thousands of startups. The city is also India’s second-largest technology hub. Furthermore, due to its business-friendly environment, enhanced infra-development, and availability of abundant office space, it has emerged as one of the top five Asian IT hubs. Besides, the city’s connectivity to other parts of NCR augurs well in attracting investors and occupiers to the city.”