Gurgaon Come up as India’s Real Estate Powerhouse: Unveiling a Decade of Growth and Innovation

Over the past decade, Gurugram has emerged as a shining example of India’s growth story, claiming the top spot on the national map. The city has become a hotspot for both residential and commercial real estate, with around 25,000 new units expected to be launched in the next six months.

Key Highlights:

Gurugram leads the National Capital Region (NCR) real estate market, with over 60% of total inventory sold in terms of volume and value.
Due to high demand and decreasing unsold inventory, the need for new launches and under-construction properties is rising.
In the next six months, approximately 25,000 new units are expected to be introduced, valued at an estimated Rs 1,00,000 crore.
Housing and infrastructure are pivotal to India’s growth, with an annual housing demand of 1 crore and an expected additional demand of 7 crore by 2030. Sales volumes in the primary market have grown at a robust annual rate of 29% since 2020, hitting a 10-year high in 2023. The residential market continued to grow in 2024, with sales up 9% year-over-year in Q1 2024, totaling 86,345 units, a record only surpassed in Q4 2023 in the past six years.

Gurugram is the major contributor to this growth, leading the NCR real estate market with over 60% of inventory sold. With increasing demand and decreasing unsold inventory, the city’s real estate sector is booming. Last year, about 12,500 housing units were sold on Dwarka Expressway, generating sales worth Rs 25,000 crore, which accounted for 66% of Gurugram’s total sales. This year, the city is poised to launch 25,000 new units valued at Rs 1,00,000 crore in the next six months.

Vishesh Prakash, Lead at R & R, notes that real estate developers are capitalizing on the surge in demand for residential properties by offering attractive plans and schemes to investors and buyers. Recently, a newly launched inventory sold out in a single day, with buyers and investors eager to secure their allotments. This trend, driven by the Fear of Missing Out (FOMO), is pushing developers to create new opportunities and launch additional projects. If trends continue as expected, Gurugram is set to break new records in the next fiscal year.

The upcoming residential launches in Gurugram will cater to various market segments, including luxury apartments, affordable housing, and integrated townships. Unlike past trends driven by hype, these new launches are attracting buyers due to visible infrastructural developments that have significantly improved the city’s connectivity. Projects such as highway expansions, metro rail connectivity, and the development of peripheral roads have enhanced both internal and external accessibility, boosting real estate growth in Gurugram and its surrounding areas.

The Growth Story: Key Trends

Housing and infrastructure will drive India’s growth, with an annual housing demand of 1 crore and an additional demand of 7 crore by 2030.
Sales volumes in the primary market have grown at an impressive annual rate of 29% since 2020, reaching a 10-year high in 2023.
The residential market entered 2024 with sales up 9% year-over-year in Q1 2024, with 86,345 units sold, a record only exceeded in Q4 2023 in the past six years.
Ongoing projects like the Dwarka Expressway and Metro expansion have improved connectivity and infrastructure, positioning Gurugram as the top destination for buyers and investors alike.

Gurugram’s real estate sector is thriving, driven by strong demand, strategic infrastructural developments, and a promising outlook for future growth. As the city continues to evolve, it remains a prime destination for residential and commercial real estate investment.

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