Despite the continuous Corona crisis, Gurgaon residential real estate has shown great resilience and unprecedented recovery holds great promise for the housing market.
Gurgaon continues to demonstrate remarkable performance on the two significant parameters of sales and new launches. What is really commendable is that home sales of 15590 units in Gurgaon last year recorded a whopping 115% rise , notching up 39% share of the overall having sales in the entire NCR. Gurgaon has pipped Noida, Greater Noida and Ghaziabadwhich respectively registered 68%, 38% and 47%increase in housing sales. The home sales performance of Gurgaon is far more than the average yearly sales increase of 71% in the entire NCR. Similarly, Gurgaon fared very well on a crucial parameter of new housing launches, a barometer of real estate recovery. With a new supply of 18540 units, Gurgaon had 66% YoY increase in new launches. This is against the launch of 1750 new units in Noida, 3930 units in Greater Noida and 1090 units in Ghaziabad. So much so that the number of new launches in Delhi, Faridabad and Bhiwadi together, were not even one fifth of Gurgaon.
The favourable policies of the Haryana government for affordable housing (apartments and plotted developments) together with high affordability in the form of continuously low interest rates and stagnant prices and likely extension of interest subsidies and other tax benefits for developers and first time home buyers of affordable housing , will continue to drive residential realty in Gurgaon.