January 24, 2025 |
Gurugram Emerging as Luxury Real Estate Hub in Delhi-NCR; What’s Fueling the Growth?
In Gurugram, the New Gurugram has emerged as a top-performing micro-market for under-construction properties, recording the highest annual appreciation of 55 per cent in average capital values.
The residential real estate market of Delhi-NCR remained buoyant in 2024, positioning itself as India’s key property market. Housing sales in Delhi-NCR rose to 12,915 units during the October-December period of CY2024 from 10,354 units in the year-ago period. Also, the new supply increased by 59 per cent to 11,223 units during the same three-month period versus 7,072 units in the corresponding period of the previous CY.
Among the major cities of Delhi-NCR, Gurugram emerged as the new luxury hotspot. According to CBRE, Gurugram led the chart of land deals, accounting for more than 60 per cent. Another report by Savills India showed Gurugram is leading the surge in under-construction luxury property values, with prices increasing up to 55 per cent YoY.
In Gurugram, the New Gurugram remains the top-performing micro-market for under-construction properties, recording the highest annual appreciation of 55 per cent in average capital values. Golf Course Road and Dwarka Expressway vicinities reported 22 per cent and 16 per cent YoY growth, respectively, in average capital values for under-construction properties. Approximately 16,140 luxury units, new launches in Gurugram increased by more than 1.5 times in 2024.
Gurugram Real Estate : Seamless Connectivity
Sandeep Chhillar, founder and chairman, Landmark Group, said that the remarkable demand for luxury homes in Gurugram reflects its exceptional infrastructure, seamless connectivity and a lifestyle aligned with global aspirations.
“This consistent growth reflects the confidence buyers have in Gurugram’s real estate market. The developing corridor and new micro-market hold immense potential to continue driving luxury housing growth attracting both end-users and investors seeking long-term value,” he said.
Experts said that as the residential market gained momentum and capital values surged in recent months, buyers are becoming more motivated to make purchasing decisions, anticipating further strengthening of property prices.
Gurugram Real Estate: New Supply To Surge In 2025
Gautam Kanodia, founder of KREEVA and Kanodia Group, said that Gurugram’s residential market is set to see a surge in new supply in 2025, with several prominent developers planning launches across key locations.
“As the demand for modern living and lifestyle grows, Gurugram will remain at the forefront, setting new benchmarks for excellence and providing unmatched value for both homeowners and investors. We look forward to contributing to this growth by curating projects that reflect the evolving needs of buyers,” Gautam said.
Residential Real Estate Market
Navin Raheja, MD, Raheja Developers, said that the rapid urbanization, infrastructure developments, consumer preferences and rising disposable income over the last couple of years have influenced the residential real estate sector. These factors will continue to drive residential market growth in 2025, resulting in sustained property price increases.
“In Gurugram, Dwarka Expressway and Southern Peripheral Road are the epicenter of growth. These micro-markets will continue to see rise in demand with enhanced connectivity and a series of upcoming infrastructure developments. As connectivity improves with new expressways and metro links, both end-users and investors are increasingly focusing on these areas,” he said.
“The growth of luxury housing in Gurugram presents a significant opportunity for innovation in future projects. As demand for high-end residences continues to rise, Gurugram’s balanced market enables us to design aspirational homes that meet the evolving needs of today’s homebuyers. With the constantly evolving dynamics of real estate, we expect Gurugram to lead the growth of the housing segment with projects that blend luxury with sustainability and cutting-edge technology, ensuring long-term value and creating spaces that define the future of urban living,” Ashwani Kumar of Pyramid Infratech, said.
Source : ET Now News
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