Developers nationwide are focusing their efforts on Golf Course Extension Road to capitalize on the increasing demand. Consequently, property prices in this area have experienced a remarkable surge.
Gurugram stands out as one of India’s most sought-after real estate markets, hosting over 250 Fortune 500 companies. Consequently, there has been a significant increase in the demand for both residential and commercial properties. The combination of restricted land availability, swift urbanization, and abundant job opportunities has led to the development of various micro markets, including Golf Course Road, Golf Course Extension Road, Dwarka Expressway, New Gurgaon, and Sohna Road, among others.
Golf Course Extension Road (GCER) has emerged as a noteworthy micro market that is attracting considerable interest from affluent homebuyers. This corridor, which links Golf Course to Sohna Road, is home to a multitude of residential and commercial developments. Developers nationwide are focusing their efforts on this micro market to capitalize on the increasing demand. Consequently, property prices in this area have experienced a remarkable surge.
According to data analytics firm PropEquity, the weighted average price of new launches has more than doubled between 2019 and 2024, rising from Rs 8800 per sq. ft. to Rs 20,267 per sq. ft. This price in 2021 was Rs 11,057 per sq. ft.
Similarly, the weighted average price of absorbed units has gone up by 79% from Rs 10,979 per sq. ft. in 2019 to Rs 19,625 per sq. ft. in 2024. This price in 2021 was Rs 12,175 per sq. ft.
Commenting on this, Sanjoo Bhadana, MD, 4S Developers, says, “Gurgaon has evolved into an aspirational satellite town as employment opportunities and residential options moved to this part of the National Capital Region (NCR) several decades ago. As infrastructure and connectivity improved, new real estate hotspots like Golf Course Extension Road emerged, and quickly became the preferred choice for luxury homebuyers who desired world-class amenities and green spaces.”
It is the fastest growing micro market in Gurgaon where a mix of residential and commercial real estate makes it an ideal choice in a fast-paced world where the focus on walk-to-work has gained importance. The desire for a healthy and pollution-free lifestyle is gaining priority.
Bhadana further says that the Aravalli range, its USP, offers inhabitants a scenic beauty that city dwellers often crave, and look for while buying a property. Golf Course Extension Road will, in the times to come, see exponential growth in capital value and rentals.
Golf Course Extension Road is easily connected to Delhi-Gugaon expressway and Gurgaon-Faridabad Road. Through an underpass on GCER, commuters can access the Southern and Central Peripheral Road and further travel on to Dwarka Expressway. The Sohna elevated road which leads to Sohna and beyond and on to the Delhi-Mumbai expressway is also accessible from here.
Shiwang Suraj, Founder & Director of Gurugram-based consulting firm InfraMantra, says, “Any upward movement in the aspiration levels and desire for homeownership have driven homebuyers to Golf Course Extension Road. The micro market, once dominated by a few, has seen branded and reputed developers from across India upping the realty game and further premiumizing the locality. This micro market seems to be absorbing the newer price points at which projects are being launched as these developers are offering upscale amenities.”
The social infrastructure like schools, colleges and hospitals, entertainment and recreation centres has also been developed on this stretch that gives it an edge over other micro markets.
Vivek Singhal, CEO, Smartworld Developers, says, “Golf Course Extension Road stands out as one of the most promising micro-markets in Gurgaon. This area has emerged as a central hub for the city, driven by a surge in infrastructure advancements, upscale residential developments, commercial office spaces, retail outlets, and various entertainment and recreational facilities. Its advantageous location near NH8, Golf Course Road, and the Gurgaon-Faridabad Expressway has significantly contributed to the Walk to Work trend in Gurgaon. Consequently, it has become a favored residential choice for corporate professionals, high-net-worth individuals, ultra-high-net-worth individuals, and expatriates.”
According to property brokers, as more developers enter the market, the demand for luxury homes will continue unabated.
Vijay Harsh Jha, Founder and CEO of property brokerage firm VS Realtors, says, “Gurgaon’s real estate market will continue its upwards trajectory. The average property prices on Golf Course Extension Road have risen by close to 30% in the last one year with healthy demand even in the secondary market. With rising aspirations, the corridor has emerged as a preferred choice for luxury homebuyers with more developers entering this market and widening the choice base for homebuyers.”
Source : FE
