Gurugram Leads Delhi-NCR In Housing Sales With 13% Increase In 2023, Says New Report

As the region continues to evolve, its strategic location, coupled with expanding infrastructural networks, positions it as a thriving hub for both residential and commercial real estate ventures.

As the region continues to evolve, its strategic location, coupled with expanding infrastructural networks, positions it as a thriving hub for both residential and commercial real estate ventures. (Image credit:Reuters/file)

With a strong demand for housing, Delhi-NCR is one of India's largest real estate markets. As the recent study report by real estate consultant Anarock suggests, the region witnessed a growth of 3% in housing sales, from 63,710 units in 2022 to 65,625 units in 2023.

Emerging as the major contributor to the development, Gurugram witnessed a hike of 13% in housing sales, especially in the luxury segment, from 32,615 units in 2022 to 36,970 units in 2023. Numerous factors led to the growth results, such as strong customer sentiment, development of infrastructural projects, appreciation in property prices, promising returns in the long run, and many more.

"Gurugram's real estate market has experienced significant growth over the past few years due to its excellent infrastructure and amenities, sound connectivity, proximity to Delhi, and various other factors. The region is also witnessing a growing interest of buyers and investors," stated Nayan Raheja, Raheja Developers.

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Gurugram's well-established reputation as a vibrant community has experienced a remarkable expansion in real estate. Numerous factors have led to this popularity, including developing new areas south of Gurugram, including Sohna Road, Dwarka Expressway, and Golf Course Extension Road (Southern Peripheral Road). "Projects developed at prominent locations in the city provide an upscale experience of living. The region also offers great access to Sohna Road, NH-8, and the Golf Course Extension Road," added Radheecka Rakesh Garg, Director, Rajdarbar Realty.

Metro connectivity has also greatly enhanced the real estate sector in Gurugram. The demand for residential and commercial space has increased as a result of the Delhi Metro's Yellow Line extension to Gurugram, promoting connectivity between the city and the national capital. Rajjath Goel, Managing Director, MRG Group, shared, "New residential and commercial projects have been developed on Gurugram's periphery, drawing in many buyers and investors. In particular, Sohna Road has become a hotspot with a number of new developments focusing on middle-class buyers."

Gurugram's rise as a real estate destination has also been aided by its reputation as an IT and corporate hub with numerous international corporations based in the city. Many entrepreneurs visualise the region as the perfect destination for commercial development, increasing the demand for commercial projects. "In addition to new areas emerging as hotspots, increased connectivity has been a major factor in Gurgaon's continued dominance in the real estate market. The city's infrastructure and its accessibility from the adjoining regions have increased with the construction of new roads and the extension of existing ones," noted Surender Kaushik, MD, Aryan Realty Infratech Pvt Ltd. Gurugram is a shining example of India's thriving real estate market, with various catalysts, including robust customer sentiment, infrastructural development, property appreciation, and promising long-term returns, fueled this growth.

As the region continues to evolve, its strategic location, coupled with expanding infrastructural networks, positions it as a thriving hub for both residential and commercial real estate ventures.

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