Gurugram’s Luxury Boom: 45% Price Increase In The Past Year

Gurugram's Luxury Boom: 45% Price Increase In The Past Year

When it comes to luxury property prices in Gurugram, both under construction and ready-to-move properties, have risen by up to 45% in the past year, according to Savills India.

According to a research issued on Saturday by real estate consultancy Savills, the cost of completed housing units in Gurugram has increased by 28–45% in the past year.

The percentage of dwellings under development increased by 12–45%. Prices for completed residential properties in Noida increased by 27–36%, while those for residential homes still under construction increased by 23–47%.

New Gurugram And Dwarka Expressway Lead With 45% Annual Growth

According to the Savills analysis, the best-performing micro markets in Gurugram were New Gurugram and Dwarka Expressway, with average capital values of under-construction buildings growing by 45% and 21% annually, respectively.

With a year-over-year growth of 45% and 39%, respectively, Golf Course Road, Golf Course Extension Road, and Southern Peripheral Road had the highest average capital value appreciation for ready-to-move properties.

The micro market for under-construction properties in Noida—Sector 150—saw the most gain in capital value, rising by 47% year over year.

Golf Course Road And Noida Sector 150 Emerge As Winners

“As we step into 2024, the outlook for the premium to luxury residential segment in key urban hubs like NCR and Mumbai remains exceptionally promising,” stated Arvind Nandan, Managing Director, Research & Consulting, Savills India.

According to Pradeep Aggarwal, Founder & Chairman of Signature Global, Gurugram has become the go-to location for investors and end users because of its quick infrastructural development.

Premium To Luxury Residential Segment In NCR And Mumbai Promises Prosperity

“Notably, areas like New Gurugram, and specific sectors on Dwarka Expressway have experienced significant interest from buyers, leading to substantial capital value appreciation in double digits,” he stated.

Gurugram has been one of the best markets in terms of both sales and capital appreciation, according to Mohit Jain, Managing Director of Krisumi Corporation.

Dwarka Expressway and Central Peripheral Road, two examples of rapidly developing infrastructure, have been extremely important.

Source- ET

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