Construction Industry News
Gurugram's bustling real estate landscape, Transport Oriented Development (TOD) corridors have become the epitome of development and financial promise. A prime example of this is the Dwarka Expressway, which has captured the attention of investors and property owners alike, thanks to its strategic location and potential for improved infrastructure, while stimulating strong growth in property value and demand.
Improve connectivity to Dwarka Expressway, SPR (Southern Peripheral Road), Golf Course Extension Road and upgrade railway station. The upcoming metro project in Gurugram will see a significant improvement in its connectivity network. This strategic development will facilitate smoother and more efficient travel through the city, promising new amenities for residents and commuters, and Gurugram's real estate landscape is set for a period of unprecedented growth and development. With improved connectivity, greater investment potential and a renewed sense of dynamism, the city is expected to emerge as a real estate powerhouse in the region.
According to Magic Bricks latest report (JFM 2024), completing the Dwarka Expressway means more than just building a new road; Heralds a new era of urban living. The report reveals a marked preference among homebuyers in Gurugram and it is heavily skewed towards larger accommodations, with 3 BHK homes accounting for a whopping 54% market share. Reflecting changing urban lifestyle preferences, nearly half of homebuyers expressed a preference for spacious accommodation.
The report also highlights that mid-sized units ranging from 1,250 to 2,000 square feet saw the highest traction, with a significant demand share of 42%. Price trends indicate a preference for homes priced above INR 10,000 per sq ft, indicating a strong appetite for luxury or high-end residences. In particular, luxury properties with three or more bedrooms command premium prices, averaging around Rs 14,200 per sq ft. This highlights a marked difference in prices between the standard and luxury market segments, illustrating the different requirements and amenities associated with each property type.
Sharing his thoughts, Ravi Agarwal, Co-Founder and CEO, Signature Global (India), said: “The insights in the latest report reveal a clear shift in preferences, with growing demand for spacious accommodation, especially 3-bedroom homes which Dominating at 54% market share, the increase in mid-sized units indicates an evolving mindset towards larger living spaces, indicating a changing urban dynamism that reflects what homebuyers are looking for in prime corridors such as Dwarka Expressway, New Gurugram and South Gurugram (Sohna Road) region are emerging as hubs of urban transformation, assuring a promising future for both end users and investors. The Gurugram region includes Sector 37 D, Sector 71, Dwarka Expressway, Sector 84 and Southern Peripheral Road, of which the cluster. Diverse housing options available and close to the mid-income and premium housing segment While we embrace these ideas, it is clear that Gurugram is poised for dynamic development and offers unparalleled opportunities for visionary development.
Whiteland Corporation, another stalwart in the industry, has made its mark on the real estate scene of Gurugram with its iconic luxury project The ASPEN, a premium project located in Sector 76.Speaking about the market dynamics, Pankaj Pal, CEO, Whiteland Corporation, said: “The data confirms our findings on the ground. The Magic Bricks Propindex (JFM 2024) has boosted our confidence in the real estate sector in Gurugram. The increasing demand, especially along the Dwarka Expressway, shows a growing preference for luxury living experiences. Based on the annual data, we are confident that discerning homebuyers in Gurugram are now more ambitious and are looking to invest in premium properties that meet global standards and offer world-class amenities. Therefore, we are confident that Gurugram is well-positioned to emerge as the most sought-after real estate destination in the coming years.
Looking to the bright future, the real estate industry in Gurugram is riding the waves of transformation, with the Dwarka Expressway evolving as a hub of development and investment.
Vipin Sharma, Founder & Chairman, Aarize Group stated, “After the completion of Dwarka Expressway and upcoming improvements in connectivity infrastructure like Southern Peripheral Road, Golf Course Extension Road and Metro Rail project, the real focus of Gurugram is on the real estate sector at the threshold of transformative growth. As Magic Bricks recent Propindex report reveals, this achievement not only signifies the construction of a highway but heralds a new era of urban living. Due to its excellent connectivity, especially in the SPR area, sectors like 69, 71, 72 and 76 are attracting buyers Demand and improving connectivity promising new facilities, Gurugram is emerging as a real estate powerhouse poised for unprecedented investment and development potential.
As leading global developers continue to redefine urban living, the city's skyline will evolve, offering unparalleled opportunities for investors and homebuyers seeking distinct living experiences. With advancements in infrastructure and strategic connectivity, Gurugram's journey to become the global city of tomorrow has only just begun.
Strategic Connectivity: Dwarka Expressway is close to major employment centreThe Dwarka Expressway not only provides strategic access to Delhi, but also has proximity to major employment hubs and essential services, creating unprecedented demand from both developers and customers. Propindex data from Magic Bricks confirms a significant year-on-year increase in ready-to-move-in (RTM) and under-construction (UC) homes along the Dwarka Expressway, with statistics increasing by 36% and 25% respectively. During the past five years, which indicates the magnitude of its impact. This increase in demand translates into a significant rise in property values, providing lucrative opportunities for early investors.
“The completion of Dwarka Expressway marks the beginning of a new era of urban living. As per the latest Propindex report, 3 BHK homes have a market share of 54% in Gurugram, with demand for mid-sized units (1250 - 2000 sq. ft.) rising by 42%. Shows Buyers are favoring luxury residences priced above INR 10,000 per sq ft, with an average of INR 14,200 per sq ft for properties with three or more bedrooms. Santosh Agarwal, CEO and CFO of Alphacorp, added: “This highlights the clear distinction "In pricing and amenities between the standard and luxury segments, reflecting evolving lifestyle preferences."
993
1399
1391
1599
190
250
297
899
350
1001
431
695
495
1499
400
799
297
899
228
599
1199
1999
400
799
328
799
