Trail Blazers of Gurugram Real Estate Market

Due to the pandemic, homebuyers’ preferences have migrated away from residences near city centres and toward regions with abundant green and open space or areas that promise a better quality of life. The real estate sector is likewise taking advantage of the situation by developing projects in certain areas. Developers are increasingly expressing interest in areas that were not the first option a few years ago, and Gurugram is no exception.

The comparatively newer regions of Gurugram have seen dramatic growth in popularity due to enhanced connectivity, infrastructure, and urbanisation. To name a few, Pataudi Road is close to the Gurgaon Expressway (NH-8), the Kundli-Manesar-Palwal (KMP) Expressway, and the Dwarka Expressway (which will be operational soon). Known for its Bollywood connection, this is one of Gurugram’s five growth centres, and it’s safe to assume that these hubs employ roughly half a million people directly and indirectly. It opens myriad opportunities in terms of growth and up scaling. The entertainment industry is vast and interconnected with multiple associated industries, which will give a boost to the overall real estate and infra developments present..

Connectivity is expected to improve dramatically with the opening of the first urban expressway, the Dwarka Expressway, in 2022. Sohna Road in Gurugram is home to a plethora of business centres and technology parks, many of which house offices of well-known global corporations. It features a well-developed infrastructure and excellent connectivity.

Also, when Union Highway Minister Nitin Gadkari indicated the completion date of the Delhi-Mumbai Expressway (e-way) project, the real estate sector in Sohna was poised for a new real estate boom. The project will have a significant impact on a number of sectors, especially low-cost housing along the e-way. By 2023, the project will have been completed, making it the fastest highway construction stretch in the history of any transportation body.

Mr Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, National Council on Real Estate & Housing, ASSOCHAM, “Housing colonies under Haryana’s Affordable Housing Policy are available through drawings at a fixed price of Rs 4,000 per square foot in attractive places in all these game-changing places in Gurugram. Because of the proximity of these areas to the industrial belts of Manesar and Neemrana, the locations are perfect for housing complexes and the decision to set up film city in the Millennium City of Gurugram comes as a boon for the entire region.”

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