New Gurgaon - Next Chapter of Real Estate's Growth

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Karan Kumar, CMO, DLF Limited What is the infra development of the region? A recent JLL report has said that new residential project launches would continue to dominate the realty market in 2021 and with major developments like an urban transit system including the Delhi-Faridabad metro link, shifting of KherkiDaula toll, construction of the ambitious Delhi-Mumbai Industrial Corridor, revamping of Southern Peripheral Road, the revival of green belts, among others, New Gurgaon is all set to write the next chapter of real estate’s growth story in 2021. The region is well-linked to Delhi on one side and Neemrana (Rajasthan) on the other. Easier access to Delhi’s Indira Gandhi International Airport, New Delhi Railway Station and Huda City Centre Metro Station and better road connectivity with National Highway 8 (NH8), Kundli–Manesar–Palwal Expressway and Dwarka-Gurgaon Expressway are acting as catalysts for real estate growth in the region. Furthermore, the regional rapid transit system, mass rapid transport system and orbital rail alongside the Kundli-Manesar Expressway will be a shot in the arm for connectivity. Honourable Haryana Chief Minister’s announcements on metro rail connectivity in Manesar city and shifting of Kherki Daula toll within six months are laudable efforts. Infrastructural development has had a direct impact on real estate valuation and demand. The recent announcements around the development initiatives in this part of Gurugram will bolster prices, generate employment opportunities and boost the local economy." How has been the realty market recovery in Delhi-NCR? Increased focus on health and wellness in the post-Covid era is now making customers go for ready-to-move-in projects by trusted developers. The success of such projects can be gauged from the fact that India’s leading real estate developer DLF sold 376 ready-to-move-in luxury flats worth Rs 700 crore of its latest offering -The Ultima at New Gurgaon. Besides, it also launched 400 units of its Ultima project which is spread over 22 acres. Well-planned projects like DLF Gardencity include various residential offerings like The Skycourt, The Primus, New Town Heights and Regal Gardens that have emerged as ideal options and are attracting homebuyers in the region. Due to burgeoning demand and robust growth in residential, commercial, and industrial real estate, Gurugram has developed a number of thriving micro-markets around it. The current pandemic era has presented a drastically altered real estate market. What are the reasons for buyer’s interest in New Gurugram? Potential homebuyers are now considering shifting base to city bordering areas leading to new market emergence. The new micro-markets, are popular among home buyers for offering better priced housing and homes with enhanced amenities. With Gurugram’s proximity to Manesar, these developments will make residential clusters and townships in this region increasingly popular among buyers, making them an ideal choice to invest in one’s dream home. Better connectivity will offer a major boost to the already fast-paced development in the region. Furthermore, this will attract investors and increase demand in the market. Also, the establishment of multiple centres of excellence under the Delhi-Mumbai Industrial Corridor (DMIC) will usher in a socio-economic transformation of the region. Nestled in the backdrop of the magnificent Aravallis, the region with social infrastructures and commercial establishments are also emerging as a perfect lifestyle destination with the best amenities for today’s discerning customers.