Are you considering a real estate investment around the holidays, prospective Delhi-NCR homeowners might want to look at Gurugram, where prices have increased dramatically in five different areas.
Leading real estate consultant Anarock recently released a research stating that, in the most recent quarter, buyers in Gurugram’s top five locations are enjoying favorable conditions, while those who haven’t bought yet may have to pay much more.
A promising trend for the real estate market is shown by the price explosion that has broken records and the rising demand for properties. As per Anarock’s report, the July–September quarter saw a 29% increase in property prices in Bengaluru and Delhi-NCR due to strong demand, high input costs, and an increase in the supply of luxury housing properties.
Navratri And Diwali Offers You Special Discounts And Offers On Property
In India, purchasing real estate around important holidays like Navratri and Diwali is frequently regarded as fortunate, which may increase demand for houses this year. Due to the Delhi-NCR market’s strong performance to far, developers have been launching residential complexes with special bundles, discounts, and appealing plans.
Numerous residential projects, mostly in Gurugram, are scheduled to premiere in anticipation of Navratri and Diwali. In response to the increased demand that has resulted from the epidemic for larger and more open living spaces, a number of luxury developments are scheduled to launch in October and November.
Delhi-NCR Real Estate Price Increases 15-20% Over The Previous Two Years
The average cost of a luxury residential property in Delhi-NCR increased to Rs 7,200 per square foot in the July-September quarter, from Rs 5,570 per square foot in the same time the previous year, according to the Anarock data. The biggest increase, however, was in Hyderabad, where the price per square foot increased by 32%, from Rs 5,400 to Rs 7,150.
Neoliv’s founder and CEO, Mohit Malhotra, observes that over the holiday season, real estate transactions tend to increase, with an average increase of 15-20% over the previous two years. The future seems quite promising for both buyers and sellers this year.
Demand Is Being Driven By Millennials
The managing director of Whiteland Corporation, Pankaj Pal, notes that the luxury residential sector in Gurgaon is witnessing a surge in demand driven by millennials.
Their inclination for contemporary, amenity-rich living environments, increased access to flexible financing, and growing disposable incomes have all contributed to their increasing investment in higher-end real estate. According to recent research, the majority of luxury homebuyers in the region are, on average, under 40 years old.
The 5 Best Places To Buy Property In Gurugram
Yashank Wason, managing director of Royal Green Realty, claims that the property market is currently trending in five desirable NCR locations with excellent infrastructure development:
- Dwarka Expressway
- M3M Crown (Sector 111, Gurgaon)
- Shapoorji Pallonji Joyville (Sector 102, Gurgaon)
- Experion Windchants (Sector 112, Gurgaon)
- M3M Capital (Sector 113, Gurgaon)
- Vatika Sovereign Park (Sector 99, Gurgaon)
- Golf Course Road
- DLF The Camellias
- DLF The Magnolias
- Tulip Monsalla
- Trevoc Royal Residences
- The Aralias
- Golf Course Extension Road
- DLF The Arbour, Sector 63
- M3M St. Andrews, Sector 65
- Adani Brahma Samsara Vilasa, Sector 63
- Emaar Marbella Villas, Sector 66
- Ireo Victory Valley, Sector 67
- New Gurugram
- DLF The Ultima (Sector 81)
- Krisumi Waterfall Residences (Sector 36A)
- Godrej Zenith (Sector 89)
- Signature Global City 37D (Sector 37D)
- M3M Golf Hills (Sector 79)
- Southern Peripheral Road (SPR)
- M3M Antalya Hills
- Signature Global City 71
- Tulip Crimson
- Smart World 69
- M3M Golf Hills
Gurugram’s accessibility, including Indian Railways, Rapid Metro, Delhi Metro, and the planned Rapid Rail service, has established its place as the most preferred choice for homebuyers and investors.
Future Expectations And Demand For Homes In Delhi-NCR
Madhur Gupta, CEO of Hero Realty, expresses optimism over the demand for houses and commercial spaces in the Delhi-NCR real estate market, particularly during the Christmas season.
Growing infrastructure, desirable locations, and outstanding developments in Delhi, Gurugram, Faridabad, Sonipat, Noida, and Faridabad are driving this market to unprecedented heights and offering great prospects to both buyers and investors.
Source-ET
