Gurgaon, also known as Gurugram, has seen big changes in its real estate market over the past few years. This lively city in the National Capital Region (NCR) has evolved a lot, especially after India opened up its economy. Traditionally known for both homes and businesses, Gurgaon is now seeing a new trend in its smaller markets. The focus is now on high-end, advanced residential units, often called premium homes, making Gurgaon a key player in this area.
A National Trend with Gurgaon Leading
This move towards premium housing isn’t just in Gurgaon; it’s happening across India. However, Gurgaon, often called the Millennium City, is leading this change. While prices for premium homes vary by region, experts say the most activity is seen at the entry-level of this category, typically homes priced above Rs 2 crore.
Growth and Popularity
Statistics show Gurgaon’s increasing importance in the premium housing market. Analysts predict that Gurgaon will continue to strengthen its position as India’s top housing hub. In the NCR, Gurgaon is expected to pull ahead of other areas, taking advantage of opportunities in this growing segment. Several factors drive Gurgaon’s dynamic housing market, including ongoing improvements in infrastructure like metro connectivity, a strong road network, and its location near the Delhi-Mumbai Industrial Corridor.
New Residential Areas and High-Growth Zones
In the last decade, new large-scale residential areas like Dwarka Expressway, Golf Course Extension, North and South Peripheral Road, South of Gurgaon, and New Gurgaon have sprung up, bringing significant development in amenities. Specific sectors, such as Sector 37D, sectors 81 and 84 in New Gurgaon, and Sector 71 on South Peripheral Road, have become high-growth zones, attracting buyers looking for their dream homes.
Demand from High-End Buyers
Gurgaon’s status as a center for manufacturing (especially the automobile industry) and high-end services (like technology and consultancy) continues to drive demand for premium housing. High-net-worth individuals (HNIs), non-resident Indians (NRIs), and top to mid-level professionals find investing in high-end housing in Gurgaon attractive. Reports from leading real estate consultancies suggest a high return on investment, between 30-40%, for early investors in Gurgaon’s new premium residential areas. This trend is expected to grow in the coming years.
Infrastructure Development
Infrastructure development is a key advantage for Gurgaon. The newly opened stretch of the Delhi Mumbai Industrial Corridor (DMIC) near Gurgaon has improved access to residential hubs along the Sohna-Dausa stretch. The opening of 18 km of the Dwarka Expressway (Gurgaon portion) has ensured smooth connectivity between the national capital and Gurgaon, enhancing the area’s appeal as a premium housing hub.
Future Projects
Ongoing projects like the expansion of metro services and the Rapid Rail Transit System (RRTS) will further strengthen Gurgaon’s infrastructure. The metro is set to cover an additional 28 km, with a government-approved investment of over Rs 5,000 crore. By 2028, Gurgaon will also be part of the Delhi-Alwar corridor, the country’s second major RRTS project, spanning 164 km.
Bright Future for Gurgaon’s Premium Real Estate
With a strong foundation in the high-end housing segment, significant infrastructure improvements, high returns on investment, and its status as a major economic hub, Gurgaon’s future in premium real estate looks promising. The city’s premium housing market is set to shine even more in the coming years.