Infrastructure Push & Quality Projects Continue to Drive Gurugram’s Realty Growth

By Ashwani Kumar, Pyramid Infratech

Gurugram / 21 August, 2024: Over time, Gurugram has evolved into an established hub for residential and commercial properties. From a sleepy farming village, it has evolved into a cosmopolitan hub, particularly renowned for its luxury residential properties and a flourishing business and commercial market. Further, the city’s strategic location, booming infrastructure, and proximity to Delhi-NCR have immensely contributed to its growth.

Gurugram’s realty market has witnessed unprecedented growth numbers over the last couple of years. The most recent data by Anarock revealed approximately 32,200 housing units were sold in NCR during the first half of 2024. Gurugram recorded the highest number of luxury sales, approximately 10,365 units. Meanwhile, the commercial segment is achieving the best performance to date, with approximately 67% of GCCs intending to increase their office portfolios by at least 10% within the next two years, CBRE’s 2024 India Office Occupier survey revealed.

Moreover, what acts as a catalyst for the growth of the city’s ever-evolving realty landscape is its constant infrastructure push. Over the years, strategic infrastructure projects have significantly enhanced connectivity, accessibility, and overall livability, making Gurugram an attractive city for buyers, investors, businesses, and developers. One of the most significant infrastructure initiatives is the expansion of metro connectivity in Gurugram. The Rapid Metro, which connects key business districts like Cyber City, has not only eased commuting but also enhanced the attractiveness of nearby residential areas.

Additionally, a proposed metro line along the Southern Peripheral Road (SPR) is set to boost further connectivity by linking Sector 55/56 to Vatika Chowk. This project is expected to open new real estate opportunities along the SPR corridor, enhancing the surrounding areas’ appeal for residents and investors. The proposed Delhi-Alwar Regional Rapid Transit System (RRTS) and Manesar MRTS projects will further boost accessibility, linking key areas like Rajiv Chowk, SPR, and Vatika Chowk to Manesar.

Emerging corridors and micro-markets like the Southern Peripheral Road, the Dwarka Expressway, and New Gurgaon are experiencing an upsurge in real estate development due to these infrastructure developments. The upcoming Global City, a 1,000-acre mixed-use project, will further redefine urban living with its blend of workspaces, retail, and social infrastructure. These infrastructure projects are not only boosting real estate growth but also positioning Gurugram as a hub with immense potential for future investment.

While on the supply side of new and quality projects, Gurugram continues to lead the market growth. The latest report by JLL shows that Delhi-NCR’s housing market witnessed a significant jump in the new launches in H1 2024 with Gurugram leading it with the contribution of 55% of the new launches. As development continues, the city is poised to offer a continuous supply of quality living spaces, driving the entire real estate market.

Developers have consistently delivered high-end luxury projects equipped with modern amenities, and sustainable design, in and around the strategic locations of the city. The market has seen projects catering to the evolving preferences of residents focusing on features such as expansive green spaces, wellness-oriented facilities, smart home technologies, and enhanced security. Projects in the emerging corridors, including SPR, Dwarka Expressway, and New Gurgaon, are prime examples of this trend, offering luxury, convenience, and sustainability.

Thus, this dynamic growth creates immense potential for future appreciation, positioning Gurugram as a prime destination for real estate investments. With its blend of luxury, convenience, and strategic development, Gurugram offers unparalleled opportunities for those looking to invest in one of India’s most promising realty markets.