New Gurugram, situated between Gurugram and Manesar, is a vibrant suburb of the National Capital Region. Beneath the region’s bustling cityscape lies a golden opportunity for real estate developers and investors. With its strategic location and seamless connectivity, New Gurugram is fast becoming the go-to destination for those looking to invest in a property that offers a blend of modernity and affordability. In recent years, this city has experienced a surge in demand for housing and commercial properties, with developers and buyers alike vying for a piece of this booming suburb.
Property demand in New Gurugram is steadily growing because of a medley of factors, including affordable housing options, upgraded infrastructure, smoother connectivity, a rising base of ambitious consumers, global retail giants, and the rise of the IT/corporate sectors in the region. Several aspects have facilitated the city’s transition into a realty investment destination, and it is worth looking into these dynamics in depth.
A Plethora of Housing Options
New Gurugram has cemented its place as a magnet for families seeking their dream home in the heart of Gurugram. New Gurugram, comprising Sectors 76-86, 89-93, and 82A, 88A, 89A, 95, and 95A, features residential properties across price points. From luxury high-rise apartments to sprawling gated communities, plenty of options exist for those looking to make a home in this vibrant city. Additionally, the demand for residential properties in the area is fueled by families’ preference for properties close to their workplaces.
ANAROCK research conducted in 2022 revealed that the average property price in New Gurugram had seen an appreciation of almost 5% during the past four years. Also, the average property prices here are INR 6,275 per sq. ft. as of H2 2022, making it an affordable destination for homebuyers seeking value for money. Because of the increasing demand for quality housing, developers in New Gurugram are launching a flurry of new projects and developments.
A Mecca of Investment for Businesses and Investors
New Gurugram has become a thriving commercial hub, attracting multinational corporations, SMEs, and startups, looking to establish a foothold in this thriving area. Consequently, there is a high demand for commercial spaces in New Gurugram, including office spaces, retail outlets, and warehouses. Furthermore, the area has emerged as the premier retail hotspot in the Millennial City because of its established and aspirational ecosystem of approximately 5 lakh people, making it the ideal location for retailers to capture the aspirations of a growing consumer base. The phenomenal growth in the city’s retail space has attracted domestic and international brands and numerous investors keen to cash in on its booming retail landscape. With such bright prospects on the horizon, retail brands are eager to mark their footprint or expand their presence here, creating a dynamic and thriving retail landscape that is second to none.
New Gurugram’s thriving real estate market is grabbing the attention of both end-users and investors. While end-users are attracted to the area’s well-planned residential and commercial areas, investors are drawn to New Gurugram’s potential for capital appreciation and high rental yields. The city’s thriving business ecosystem and the government’s focus on infrastructure development add to the city’s appeal as a real estate investment hotspot.
New Gurugram is witnessing rapid infrastructure development, including revamping the Southern Peripheral Road (SPR), the upcoming Clover Leaf between New Gurugram and SPR, and the forthcoming Regional Rapid Transit System to enhance the connectivity and accessibility of the region. Also, the completion of the Sohna-Dausa stretch of the DMIC marks a pivotal moment for Gurugram, firmly establishing the city as a gateway to the nation’s future development corridor. This 1,390-km national highway paves the way for more accessible, resilient, and infrastructure-supported growth in the states it traverses, unlocking a plethora of opportunities for businesses, investors, and residents. The benefits of this development will undoubtedly extend to New Gurugram, further bolstering its position as a prime destination for those seeking a high-quality lifestyle in a thriving community. Furthermore, the opening of the Western Dedicated Freight Corridor, the Kundli-Manesar-Palwal Expressway, and the Dwarka Expressway are expected to transform New Gurugram’s real estate market significantly. The possibilities are endless, as these developments will pave the way for unprecedented progress and prosperity, creating a more promising future for people who call this region home.
Forging Ahead towards a Future of Seamless Connectivity
Several mega infrastructure projects are elevating the city’s connectivity to new heights. The strategic location of New Gurugram, close to Sohna Road, IMT Manesar, Udyog Vihar, Delhi, Bhiwadi, and Neemrana, offers a significant advantage to people working in these bustling hubs. New Gurugram is only a 25-minute drive from IGI Airport. Also, the upcoming ISBT in the vicinity is conveniently connected by two metros—the Gurugram line and the Dwarka line. Moreover, this area boasts modern amenities such as top-notch schools, healthcare facilities, and shopping centres, making it an attractive prospect for end-users and investors.
New Gurugram has emerged as a pivotal hub for highly coveted real estate ventures. The city’s real estate sector is thriving across sectors, catapulting it to a prominent position in Delhi NCR. Given the upcoming infrastructure developments, it’s no surprise that New Gurugram will continue enticing investors and homeowners alike, offering an unparalleled lifestyle experience amid a bustling city.
Source : FE