Ravish Kapoor, Managing Director, Elan Group, on the worthiness of New Gurgaon
In the heart of the bustling National Capital Region (NCR) lies New Gurgaon, a prime example of India’s real estate boom. With its strategic location, robust infrastructure, and vibrant community, New Gurgaon has become the epicentre of real estate investment in the country, turning it into an investor’s paradise. Today, this region has emerged as a thriving micro-market and is a goldmine for investors, developers, and residents alike. New Gurgaon’s transformation from an overlooked suburb into a real estate hotspot has been nothing short of remarkable. Its proximity to Delhi, excellent connectivity, and planned infrastructure development have laid the foundation for its meteoric rise. The region has seen a surge in residential, commercial, and retail projects, turning it into a self-contained ecosystem.
Infrastructure that defines progress
The first and foremost reason behind New Gurgaon’s real estate success story is its world-class infrastructure. The Delhi-Gurgaon Expressway and the Dwarka Expressway have drastically reduced commute times to the rest of NCR, making them a convenient choice for professionals. Moreover, the upcoming Delhi-Mumbai Industrial Corridor (DMIC) promises to enhance the area’s economic prospects further. New Gurgaon has not just built physical infrastructure but also invested in social amenities that improve the quality of life. Leading educational institutions, healthcare facilities, and recreational options have flourished here. Residents now have access to top-notch schools, world-class hospitals, and entertainment hubs in the region.
Investor success stories
New Gurgaon has seen a slew of success stories from investors who recognized its potential early on. Raj Kapoor, a seasoned investor, recalls, “When I first invested in New Gurgaon a decade ago, many considered it a risky move. But I saw the vision and potential here. Today, my portfolio has appreciated significantly, and I have a steady rental income from my properties.” Priya Sharma, another astute investor, shares her journey, “New Gurgaon’s real estate market allowed me to diversify my investments. I started with residential properties and later ventured into commercial spaces. The demand for office spaces here is phenomenal, and my returns have been consistently impressive.”
Developers riding the wave
Developers, too, have played a pivotal role in New Gurgaon’s real estate boom. They have brought innovative projects to the market, catering to diverse needs and preferences. The success of developers is evident in the numerous projects that have transformed New Gurgaon’s skyline. According to the comprehensive report by Mordor Intelligence titled, “High-Value Real Estate Markets in India – Growth Trends and Forecast Analysis (2023-2028)”, which provides insights into the growing demand for real estate spaces, one of the main reasons for the growth of New Gurgaon is because the nation’s leading developers have created communities that offer not just homes but lifestyles. Some of the most coveted projects in New Gurgaon have proximity to green spaces, eco-friendly designs, and modern amenities as their main selling points. Luxury apartments, gated communities, and affordable housing options have attracted a wide range of buyers, further driving the growth of the market.
Residents reaping the benefits
For residents, New Gurgaon is not just a place to live; it’s a place to thrive. The Vermas, who relocated here from another part of NCR, share their experience, “The decision to move to New Gurgaon has been life-changing for us. The quality of life here is unmatched. Our children attend prestigious schools, we have access to world-class healthcare, and the sense of community is incredible.” Residents have also witnessed the appreciation of their property values.
The road ahead
The real estate success of New Gurgaon is a demonstration of how vision and strategic investment can come together to achieve remarkable results. The region has transformed from a once-sleepy suburb into a thriving micro-market that caters to the needs and aspirations of a diverse population. As New Gurgaon continues to evolve, the real estate boom shows no signs of slowing down. With the government’s focus on improving connectivity, the region is set to become even more accessible. The burgeoning commercial sector is creating job opportunities, attracting more professionals and, in turn, boosting the demand for residential properties. Investors, developers, and residents have all benefited from this real estate boom, turning New Gurgaon into the quintessential personification of India’s inspirational growth story.
Source : Construction Week Online