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Guest Column

New Gurgaon is becoming the New Ground for NCR’s Real Estate Battle

By – Sanjeev Arora, Director, 360 Realtors

Once the rural backyard of Delhi NCR, New Gurgaon and the extension region are now aggressively stepping up and becoming the new ground for real estate in NCR. As the Dwarka expressway or the North Peripheral Road has come into existence, this region has been cohesively linked to various parts of Gurgaon and New Delhi. This has resulted in a steep jump in housing and commercial demand in the wider region including Sec 76-95, and 102-113

The region is also adjacent to some of the largest commercial catchments in the NCR. It is close to IMT- Manesar (Industrial Model Town), which is a bustling hub for automobiles, automobile parts, and warehousing industries. It houses some of the largest names in the auto sector. Recently, Flipkart has also announced the opening of its biggest fulfilment centre in Asia at Manesar, spread across 3 million Sq. Ft.

The region is also linked to a few large infrastructure projects in India, including DMIC (Delhi Mumbai Industrial Corridor) and the 1350 km under-construction Delhi Mumbai Expressway, which is further fuelling growth and giving a facelift to construction activities.

A Hotbed for Real Estate Growth

As property prices in main parts of Gurgaon are soaring, New Gurugram, including the Dwarka expressway corridor, Sohna road, and Sohna region is the new hub for real estate activities. Evolving infrastructure and social facilities, improved connectivity, and affordable property prices naturally put the spotlight on the housing and commercial market in the region. 

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The Gurgaon extension is also seamlessly linked to parts of Delhi such as Paschim Vihar, Dwarka, and Janakpuri. It is at an approachable distance from the IGI airport in Gurgaon (~ 40 mins) and other upcoming infrastructure projects such as International Convention Center at Dwarka and the second diplomatic enclave at Janakpuri.

As the demand is rising fast, major developers such as Emaar, Sobha, BPTP, Axon, Adani, Raheja, M3M, Ansal, Godrej, etc. are launching new projects in the region. The region also offers decongested living with a natural, refreshing, and calm environment. The Sultanpur bird sanctuary and the lush green Aravallis are also situated nearby, which further makes the place majestically alluring. 

The region also has the potential to become a bustling office and retail destination backed by a surge in population, enhanced connectivity, and lower leasing rates. It is dotted with upcoming malls such as Sapphire Mall, Gallexie 91, Vatika Town Square, etc. As the population is gradually growing, the social infrastructure including healthcare centers, hotels & resorts, schools, etc. is also evolving.

A Region That Will Continue to Thrive

The New Gurgaon region will continue to thrive and become a major real estate destination in the NCR. Besides organic growth, it is also conveniently linked to popular commercial hubs in Gurgaon such as Cyberhub, Golf Course Road & Golf Course Extension, and Udyog Vihar. Many people employed in these places will pivot to new Gurgaon lured by affordable property rates and future potential.

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Quarterly property prices are rising at the rate of around 4-5%, making the region one of the fastest-growing micro markets in the NCR. With mega infrastructure projects such as DMIC and Delhi Mumbai Industrial reaching its logical conclusion soon, positive sentiments will continue to reverberate across the region. Presently, there is no metro connectivity in the region but the yellow line has been proposed to extend toward the Sohna-Gurgaon Corridor.

This New Gurgaon and extension will continue to be a flourishing ground for affordable and mid-scale projects mostly in the range of INR 50-80 lacs. It will also be a party to the developing commercial clusters in Sohna-IMT region spread across 1300 acres and developed into a large-scale industrial corridor under PPP.

In another ten years, we might see New Gurgaon become a perfect extension to Gurgaon, the similar growth trajectory, which once Gurgaon traversed for Delhi. After all 25 years back, present-day Gurgaon was a rural outpost of Delhi and today it is the heart of the entire Delhi-NCR region. In a similar fashion, the battle for the new Gurgaon has begun and we need to see how soon the region will emerge triumphant.

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