Golf Course Road is a well-established luxury micro market in Gurgaon that has seen significant demand from both High Net worth individuals and high-end consumers. Because of high property prices investors are backing, and DLF knows how to win this game in these situations.
DLF has completed the sale of all 1,137 units at Golf Course Extension Road, valued at Rs 7 crore and above, for more than Rs 8,000 crore in only about three days after launch, real estate giant DLF grabbed headlines earlier this year.
As per industry insiders, the majority of the buyers were NRIs, corporate directors, businessmen, entrepreneurs, start-up founders, lawyers, and doctors. The wait for secondary sales purchases was much longer.
The most sought-after residential pin code in the entire Delhi NCR has increased by more than 42% in the past year as the real estate behemoth gets ready to unveil its newest project, dubbed “Magnolia 2 or Crest 2” on Golf Course Road.
Rentals in Golf Course Road Gurugram have climbed 14% year over year since the pandemic, and those in luxury residences like The Magnolias, The Aralias, The Camellias, and The Crest have increased by a factor of two since 2020 as a result of the return of NRI investors and expats.
For instance, pre-pandemic rent for a 5,800 square foot flat at Aralias, DLF’s first luxury condominium on Golf Course Road, increased from Rs 2.5 lakh to Rs 5.5 lakh.
In a same vein, rentals in DLF’s second significant luxury development, the Magnolias, which is next to Aralias, have increased from Rs 3.7 lakh for a 6,400 square foot apartment to Rs 6 lakh today for a furnished apartment.
The Camellias is the most upscale of these luxury condominiums; it has the appearance of a five-star resort and rents for a 7,400 square foot property range from Rs 8 to Rs 9 lakh. Again, top corporate executives, affluent businesspeople, and NRIs who want to return and stay in India are driving demand.
Source- Business Standard