New launches to trigger Gurgaon residential real estate revival

The significant pick up in new launches in January-March 2021 quarter in Gurgaon bodes well for the revival of the residential real estate market.
According to a recent report by global real estate consultancy, JLL, the residential market in Delhi-NCR has got a fillip with substantial increase in new launches, coupled with rise in home sales. New launches in Delhi- NCR in Q1, 2021, more than doubled on a sequential basis. As per the report, Gurgaon contributed 25 percent of the overall new launches in Delhi- NCR, with pr. Most of these new launches in Gurgaon were concentrated in the premium locations of the city. These included  the hot residential corridors of Dwarka Expressway and Golf Course Extension Road. Most of these new launches were in the mid-segment as in  post- corona period, home buyers in view of WFH, are preferring larger homes. These new launches mostly pertained to well known developers commanding home buyers’ trust. This led to good traction in sales as home buyers preferred projects by established developers with proven execution capabilities.
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham – National Council on Real Estate, Housing & Urban Development, “The growth in new launches and pick up in  home sales is a positive development. It is a clear sign of home buyers reposing their faith, leading to upsurge in demand. With interest rates continue to be low and prices remaining range bound, lucrative payment plans with good deals from developers will keep up the momentum of new launches and home sales.

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