NCR saw housing sales increase by 73% - from 23,210 units in 2020 to 40,050 units in 2021. With this performance, NCR comes second only to MMR in terms of sales during the whole of 2021.
Tag: Gurugram Real Estate
The average size of independent/builder floor flats outstrips that of apartments, and the average sizes have been increasing over the period. In contrast, apartment sizes were shrinking until 2021 (post the pandemic).
From a more than 100% difference between the two rates in certain areas in Mumbai, Pune, Gurgaon, etc. in 2015, some localities presently show a mere 6% variation
The top 3 UP cities within NCR – Noida, Greater Noida and Ghaziabad – saw the maximum decline in overall unsold housing stock in two years in the state.
Prashant Thakur, Head – Research, ANAROCK Property Consultants
Conceptualized under the Gurugram Master Plan 2021, Dwarka Expressway or the Northern Peripheral Road (NPR) was initially planned to connect Dwarka in Delhi to Palam Vihar in Gurugram.
However, it was further extended to Kherki Dhaula toll plaza intercepting NH 48 as per the Master Plan 2025.
Stretching along 18 km, this 8-lane and 150-meter-wide expressway aims to provide seamless connectivity between Delhi, Gurugram and Manesar.
The expressway passes through sectors 109, 113, 37D, 88B, 105, 99 and many other sectors which saw an upsurge in residential real estate activity since its announcement.
With land acquisition issues over the years, the residential real estate market along the region suffered a major setback.
However, the recent clearance of all major hurdles here has given a new ray of hope to prospective buyers and investors focused on Dwarka Expressway’s many transit-oriented benefits.
The major attraction of Dwarka Expressway is its seamless connectivity between Gurugram and Delhi.
- Road: Sectors along Dwarka Expressway will enjoy excellent connectivity to Delhi and the international airport.
Anuj Puri, Chairman – ANAROCK Property Consultants
Gurugram is home to around 1,500 start-ups and is the 4th largest start-up hub in India. As the city hosts the behemoths of the start-up industry, it makes sense to delve a little deeper into this fascinating new office space sector in Millennium City.
Emerging commercial office locations in Gurugram, as also in Bangalore, Navi Mumbai and Hyderabad, have benefited significantly from the Indian start-up euphoria. This trend is likely to continue for some time given the availability of large talent pool and availability of real estate spaces.
The start-up eco-system in India has been a key contributor to the rise in investments and job creation. Many start-ups that commenced operations in later part of the previous decade have already become medium-sized or large companies, particularly if we look at some of the popular e-commerce companies in India today.
From zero contribution to office space take-up, the e-commerce sector today contributes over 3% of the total office space absorption on an annual basis. We expect the growth in this sector to increase over time.
The government initiatives,
Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants
The Golf Course Extension Road has emerged as one of the most sought-after residential corridors of Gurugram.
While not being priced as high as the neighbouring Golf Course Road, it offers multiple apartment options for the upper-mid segment moving up the value chain to luxury housing options as well.
This residential corridor has seen more than 8,500 residential apartment units launched overall, and many of them are in advanced stages of construction. Around 2,500 residential units have been delivered here with another 2,600 slated for completion by 2019-end.
This residential market has a good mix of end-user as well as the investor segment who have in the past achieved healthy capital appreciation across their investment/purchases. The healthy completions pipeline had also resulted in a robust secondary sales market in this corridor.
The consistent price appreciation on Golf Course Extension Road caused sales to dampen slightly, and the overall slow market for high-ticket sized apartments has also impacted the sales velocity in this corridor.
Anuj Puri, Chairman – ANAROCK Property Consultants Pvt. Ltd.
The suburb of Gurgaon has been an essential contributor to the urban sprawl that comprises of prime Delhi NCR. The region has become synonymous with a viral-like growth in the past decade and has assumed a homogeneous nature being a well-established business, housing and leisure hub.
The new residential growth comprising of multistoried apartments initially started along its major arterial roads of MG Road, Golf Course Road and later spread down along the main highway connecting it to Delhi–NH-8.
Further along the way as the city started to grow its wings, newer areas were opened up along the Golf Course Extension Road and newer sectors opened up along the proposed Dwarka-Gurgaon Expressway and both sides of the NH-8, beyond the second toll plaza.
Each of these residential precincts has their own set of specifications, price points, and target segments. Gurgaon boasts of one of the highest white-collar workforces and with its homogeneous industry mix, it caters to all categories of home buyers – from affordable to ultra-luxury.
The city now has its own default CBD comprising DLF Cybercity and prime roads of MG Road and Golf Course Road.