As the home sales and new project launches gain traction across top cities due to pick up in economy amidst ebbing of Corona pandemic, New Gurgaon has shown promising performance on this front which bodes well for the real estate recovery and growth.
New Gurgaon, which has emerged as a top affordable housing destination , enjoys Square Yards report a big advantage of having superior infrastructure and connectivity. With mega infra developments like Delhi-Mumbai Industrial corridor, Dwarka Eway, KMP, SPR, this high potential micro market also enjoys the advantage of being surrounded by top corporate hubs like Cyber City and Sohna Road and industrial hubs of Manesar, Udyog Vihar and Dharuhera. Gurgaon Metropolitan Development Authority (GMDA) has taken several steps to infra and road connectivity. Post- Covid, Gurgaon particularly New Gurgaon has emerged as a preferred destination as home buyers are preferring to buy property in tier 2-3 cities and in emerging micro markets situated in the city periphery. According to a recent report by Square Yards, New Gurgaon tops with 72% new launches within Gurgaon, beating Golf Course Extension Road whose share in the city’s new launches stands at 22 percent. Top 7 listed developers have plans to launch 70 msf of residential space in tier 2-3 cities including Gurgaon. In a recent Housing.com report Sectors 70 and 81 are among top 10 localities by sales across India.
Says Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing & Urban Development< ” One big reason for New Gurgaon being the favourite hunting ground of developers, is its attractiveness with buyers as a prime affordable housing micro market. Residential properties here have given good returns over the last 7 years.Even today , over 80 percent of Gurgaon inventory is in the affordable 1-2 BHK category. With even top listed developers set to launch their residential projects in GUrgaon- New Gurgaon, real estate will see rapid recovery.