New Gurgaon: Changing Gears, Going Fast Track
With planned development and offering city feel, just beyond city limits, New Gurgaon is witnessing phenomenal traction
From once being a rural outpost of the Delhi-NCR, the New Gurgaon and extension region is rapidly transforming and is gradually becoming the next housing, manufacturing, and commercial hub of NCR. New Gurgaon has been growing leaps and bounds, attracting inves-tors and homebuyers. With across segment options at various levels and stages of construction available, the area is attracting buyers like no other.
Talking about the area, Ankit Kansal, founder and MD, 360 Realtors, shares, “Through Dwarka Expressway, it is conveniently linked to Dwarka, Paschim Vihar, IGI Airport, Aerocity, etc. The bustling automobile cluster of Manesar is also nearby. Prominent commercial hubs in Gurgaon such as Cuber City and Udyog Vihar are also at an approachable dis-tance. Major developers are coming up with new projects to match the apprise in demand. Property prices are moving up at 4-5% quarter-ly steered by rising demand. As real estate is on an up-swing, the retail profile of the region is also transforming with malls. There are also big hotels an approachable distance, which further supports commercial activities.”
The real estate hot spots like Southern Peripheral Road and New Gurgaon aae witnessing great development. Gurugram has witnessed multiple affordable housing projects in these micro markets, the availability of land parcels in these regions will likely lead to multiple new projects in the affordable segment
Hosting great connectivity to the National Capital and other significant cities of NCR, New Gurgaon is becoming the choice of buyers.
The credit goes to the availability of widespread projects and opportunities that offer vast services to buyers and nearby residents. The region is witnessing the development of multiple projects, including residential projects, commercial developments, retail stores, etc.
New Gurgaon is set to become the new realty hotspot of Haryana as the projects head towards completion.
Gurugram’s micro-mar-kets are becoming increas-ingly popular among home seekers who want to live a modern lifestyle, with New Gurgaon emerging as the first. Avneesh Sood, director, Eros Group, discloses, “The micro-markets of Gurugram also offer a great opportunity for professionals look-ing to invest in commercial property. Located between Gurugram and the auto hub of Manesar, the area is bus-tling with business and the prevalence of big industries makes it an ideal location for those looking to invest. The Gurugram area is home to many vibrant micro-markets like New Gurgaon that are bustling with real estate and commercial activities. These areas are rapidly transform-ing into the nerve centre of business in the region, making Gurugram an increasingly attractive destination for busi-nesses. Also, there’s been a steady increase in the sale of premium and luxury homes since the pandemic. Not only has the number of housing units sold increased, but the demand for premium properties has gone up in Gurugram as well. The rapid rise of of-fice spaces in the region has boosted social infrastructure and commercial activities like restaurants, recreation spaces, and more.”
The real estate hot spots like Southern Peripheral Road and New Gurgaon are wit-nessing great development. Gurugram has witnessed multiple affordable housing projects in these micro mar-kets, the availability of land parcels in these regions will likely lead to multiple new projects in the affordable segment. Pradeep Aggarwal, chairman, Signature Global (India) Ltd, shares, “With the advent of new roads and highways and other connect-ing expressways, commuting to these hot spots have be-come easy and smooth. People working in and around the prominent areas of Gur-gaon are looking settle down in these real estate hot spots.”
Manish Jaiswal, group COO, Eldeco, shares, “The city has many infrastructure projects in its pipeline such as the DMIC, Dwarka Expressway, and metro rail expan-sion among others. It boasts excellent connectivity and the availability of multitude of residential projects amidst vibrant social infrastructure is propelling the growth of residential real estate.”
Real estate markets in Gurugram and its growing micro-markets, such as New Gurgaon, have shown tremendous growth after the industry picked up pace post pandemic.
“The Gurugram micro-markets are attracting homebuyers who are look-ing for a modern way of living. These micro-mar-kets are providing custom-ers with a wide range of options and are available at prime locations that are halfway between Gurugram and the Manesar auto hub,” concludes, Amar Sarin, CEO and MD, TARC.