In the year 2022 amongst all the locations of NCR the city of Gurgaon has been identified as the location with the most housing supply and absorption rate. This determinant of how homes are put on sale at a period of time signifies Gurgaon’s exuberant real estate market. As per a survey by industry body PHDCCI, the city has been concluded as the most preferred harbor for real estate investment in all of the NCR. What makes this region a real estate magnet and successful extends to branches and layered. However, a region decked with modern transport facilities, seamless connectivity, a pool of employment opportunities, and unmatched social infrastructure made this location ideal for investment. Moreover, the rapid metro development and its functioning have also boosted the investment prospect.
With some of the best connectivity in the country Gurgaon city is truly above the clouds. The two most notable expressway connectivity to the city of Dwarka Expressway and Golf Course Extension Road are the charm of the area. Dwarka Expressway also known as the Northern Peripheral Express is laid down along an array of real estate projects. The Expressway encompasses the locality of Bijwasan, New Palam Vihar, and Kherki Daula. Likewise, the Golf Course Extension Road is on the edge of rapid infrastructure development. On top of it, the investment magnet holds seamless connectivity with proximity to IGI airport. The appreciation value of property along this Extension is at an all-time high.
Moreover, after the completion of Rapid Metro Phase 2 the commute facilities have smoothened. As a result of such immense lucrative infrastructure development, Gurgaon has contributed to almost a 75% share of real estate units sold in 2022. Many developers of the region also estimated that the sales will increase with projections to be higher every year as per the study conducted by CII-ANAROCK on Consumer Sentiment last year. The study identified that a large pool of NRIs is now seeking to invest and purchase in premium residential projects. Gurgaon is one of the favorable options according to the poll conducted during the study. It reveals that a minimum of 53% of NRIs choose to buy property in India while 47% prefer to invest in real estate projects. A location decked with many premium social amenities and presents as a golden egg for growth in many years to come.
According to data released by Anarock on sale graphs of NCR and Gurgaon real estate units, it underscores an increasing trajectory. IN 2019 Gurgaon witnessed a sale of 13,244 residential units out of the 46,917 units launched in the NCR, 28% of the entire stock. IN 2020 out of the 23,210 units sold in total in Delhi-NCR Gurgaon amounts to 7,240 units. In 2021 out of the 40,040 total units sold in the NCR Gurgaon contributed to 15,590 residential units which is a higher graph of 39%.
Other voices have also backed and reaffirmed the growth trajectory of the city. Pradden Agarwal, the founder and chairman of Signature Global posits that amidst a high demand from end users, the real estate market has fully recovered from the pandemic era. “Reasonable pricing, lower interest rates, and an abundance of offerings prompted end-users to book homes in 2022. The situation is likely to remain similar in 2023 as well, particularly for affordable and mid-segment housing,” he said.
Continuing with the fine growth prospect of Gurgaon some of the industry experts and observers added. The launching of the ongoing city infrastructure development specifically the Sohna Elevated Road, the soon-to-be-launched Dwarka Expressway, and a vital stretch of the Mumbai-Delhi highway are key determinants of more investors in the regions.
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