New Gurgaon has emerged as one of the most attractive destinations for homebuyers
New Gurgaon is an upcoming area which offers both affordable and luxurious residential housing options for homebuyers. This location is considered the best-suited option for the first time homebuyers due to its connectivity and access to NH-46, Kundli-Palwal Expressway, and Dwarka-Gurgaon Expressway. It is flourishing as an attractive destination for the investors and home seekers.
The removal of toll plaza at Kherki Daula on the Delhl-Jaipur highway will provide a huge relief to the residents in New Gurgaon who had to pay tall for commuting from one part of the city to another.
Experts are of the view that once the toll is removed prices of properties in New Gurgaon will go up.
Ankit Kansal, founder and MD. 360 Realtors, says, “The Kherki Daula Toll that connects Gurugram and New Gurgaon will be shifted in some time. Once the toll is removed, it is believed that prices will further take a steep jump.”
Kansal further adds, “New Gurgaon is evolving as a self-sustainable micro-market. It has a well-developed retail infrastructure and commercial sector. Property prices are currently manageable, as a 3 BHK will cost around 1 core. A 2 BHK can be purchased for around 80 lakh”.
Talking about the potential of New Gurgaon as a realty destination, Abhinav Joshi, head of research, CBRE India, says, “Driven by factors such as affordable property prices, easy connectivity to major locations, infrastructural growth and future potential New Gurgaon is fast emerging as a commercial and residential hub the Delhi NCR region. The area falls beyond the second toll plaza (now removed) on NH-48, which are located on the highway on ether side of it or which are accessible through Internal sector roads. New large township projects are already coming up in the New Gurgaon region buoyed by its close proximity to NH-48, Dwarka Expressway and Kundli-Manesar-Palwal (KMP) Expressway!.
Also, compared to the rest of Gurugram, property prices in New Gurgaon’ residential micro-market are relatively lower and this in Itself is pushing sales volume up considerably. Josh maintains, “Gurugram’s housing sector, over the years, have witnessed growth in prices in tandem with the growth in infrastructure and basic amenities. The market is currently being increasingly driven by end-users, rather than investors”.
In the housing realty sector, mid-range projects are driving the majority of supply, followed by the affordable segment, thanks to government Incentives and rise in consumer demand. ‘The most promising regions in New Gurgaon that are displaying significant potential are – where the Southern Peripheral Road and the Dwarka Expressway meet at NH-48 (sectors 99-112 and 37D, Sectors 58-63, 68, 78-81, 84, and 85-86). There are a lot of new launches coming up in these localities, especially in the affordable and the mid- to high-end range category,’ Joshi concludes.