The real estate market is in a robust phase, witnessing substantial demand and sales across diverse segments. Gurugram stands out as a city consistently achieving remarkable sales quarter after quarter. Recently, it gained attention with the sale of a Rs 100 crore apartment, setting a record as one of the most expensive properties ever sold in the Millennium City.
This is not an isolated event; according to Square Yards' quarterly report, the top fifteen developers collectively sold 2,578 properties valued at Rs 4,374 crores in Gurugram during the July-September quarter of 2023. Notably, DLF led in volume, selling 336 units worth Rs 1,775 crore, while Signature Global, a recent entrant to the stock market, secured the highest number of units sold (631) worth Rs 234 crore during Q2, 2023.
"Gurugram's recent ascent as a dominant force in residential real estate owes much to its cosmopolitan fabric and its burgeoning reputation as the next Silicon Valley,” said Ravi Nirwal, Sales Director and Principal Partner, North India, Square Yards.
He further adds that MNCs, startups, and industries are selecting the Millennium city as their primary business hub, drawn by its immense potential. Consequently, there's been a fervent quest for superior housing among the high-caliber workforce flocking to Gurgaon.
Golf Course Extension Road and Dwarka Expressway have emerged as prime real estate hotspots in Gurgaon as the areas offer a strategic blend of connectivity, infrastructure development, and urban planning.
“The nearing completion of pivotal infrastructure projects, notably the Dwarka Expressway, has significantly heightened accessibility in Gurgaon's real estate landscape. This improved connectivity acts as a magnet, drawing the attention of both prospective homebuyers and savvy investors,” said Pradeep Aggarwal, Founder and Chairman, Signature Global (India) Ltd
The surge in demand is further fueled by the existence of upscale residential and commercial projects, accompanied by enhanced amenities and facilities. The promise of substantial returns on investment and the appeal of a meticulously planned urban lifestyle are drawing homebuyers to actively participate in Gurgaon's vibrant property market.
“This escalating demand has propelled Gurgaon to overshadow cities like Bangalore, Mumbai, and Noida in terms of price appreciation, solidifying its position as the premier choice for residential living,” added Nirwal