The real estate market in Gurugram is poised for significant expansion over the next five years, driven by a confluence of factors including infrastructural advancements, urban planning, and economic growth. As established areas reach saturation, attention is turning to emerging pockets that hold tremendous potential for both investors and end users.
“Another advantage is the favorable business policies of the state government and the proactive participation of the civic authorities in infrastructure building and support. The design and planning of the projects here are being done to fulfill the requirements of the millennials. The city is targeting the growing millennial population of the country with quality projects in affordable, commercial, and luxury,” says Yashank Wason, MD, Royal Green Realty.
While several areas within Gurugram are attracting attention, a few stand out as promising destinations for real estate investment and end users.
Sector 82 and 83: These sectors are on the cusp of transformation with planned infrastructure projects like road widening and improved connectivity to major business hubs. The establishment of commercial and retail spaces is anticipated to drive demand for both residential and commercial properties.
New Gurugram (Sectors 99A-115): Often referred to as New Gurugram, this region offers a canvas for comprehensive urban development. The upcoming Kundli-Manesar-Palwal Expressway will further bolster connectivity, making it an appealing prospect for affordable housing projects and commercial ventures.
Sector 37 D: Already gaining traction, Sector 37 D's real estate potential is set to flourish in the coming years. Its strategic location near prominent business districts and ongoing infrastructural improvements make it an attractive choice for investors and end users seeking modern amenities and connectivity.
Dwarka Expressway: This expressway corridor is evolving into a hotspot for real estate activity. With its potential to connect Gurugram to Delhi and beyond, it presents opportunities for both residential and commercial developments, drawing interest from those seeking seamless connectivity.
Southern Peripheral Road (SPR): The SPR region is witnessing a surge in real estate projects due to its strategic location connecting Golf Course Road and Sohna Road. With the presence of established educational institutions and recreational facilities, it appeals to families and working professionals alike.
Investment Potential
The next five years are expected to bring substantial appreciation in property values across these emerging areas. The blend of improved connectivity, urban planning, and growing commercial infrastructure will likely lead to heightened demand. Investors with a long-term perspective can capitalize on this growth potential, aiming for handsome returns on their investments.
“We have projects catering to the tastes of the millennial buyer/investor, such as affordable Royal Green Heights in Sector 62, mixed-use commercial development Courtyard 62 in Sector 62, and an upcoming SCO in Sector 37D. The focus is to cater to the millennial buyer's demand for a vast real estate portfolio to choose from for investment/buying,” adds Wason.
End User Benefits
For end users, these areas represent an opportunity to secure a foothold in Gurugram's evolving real estate landscape. Modern amenities, planned green spaces, and better connectivity ensure a comfortable lifestyle. As businesses expand into these regions, professionals will find the convenience of shorter commutes highly appealing.
Challenges and the Way Forward
While the potential is promising, challenges such as infrastructure development, regulatory compliance, and maintaining a balance between commercial and residential growth must be addressed. Effective collaboration between developers, government bodies, and urban planners will be crucial to ensure sustainable development.
Conclusion
As Gurugram's real estate market gears up for transformative growth over the next five years, emerging areas offer a plethora of opportunities for investors and end users. The strategic convergence of infrastructure, urban planning, and economic expansion paints a bright picture for those looking to invest in a dynamic and evolving real estate landscape. “Overall, Gurugram is taking care of mobility, which is of utmost importance to millennials; this generation does not invest for the future as they want to live in the project they are investing in and keep the option of selling out for later,” concludes Wason.