With a billion plus population, India offers a huge real estate market for international and domestic developers. Though the demand in 2011 fell to an all time low, but the real estate market is back on the growth path, with New Gurgaon properties leading the way. As of March-End of 2017, the average residential property price in New Gurgaon was Rs 7,608 per sq ft, against Rs 2,528 per sq ft at the end of March 2009, indicating a rise of 180 percent.
Fuelled by good connectivity, affordable property and future growth prospects, New Gurgaon has turned out to become a premium commercial and residential real estate destination. This micro-market is one of the two identified growth corridors for residential projects in Gurgaon (the other being Dwarka Expressway). There are more than 76 under-construction projects here. Tipped as an affordable destination as compared to main Gurgaon, New Gurgaon has flats & investment at various ticket sizes.
The key features of this real estate destination are:
- There is a long list of affordable housing stock because developers have joined hands with Haryana Development Authority to build affordable homes.
- The work is under process to improve connectivity and upgrade internal roads for convenience. There will be 150 meter road linking Mehrauli, Vasant Kunj and Gurgaon, and another 150-meter connecting Gurgaon, Andheria More, Delhi and Faridabad. Dwarka Expressway will be a ling to the T3 International Airport, & KMP Expressway will link the area with Sonepat, Palwal & Jewar.
- Educational institutes like Royal Institute of Science and Management and Basant Valley Public School are present, while small hospitals and clinics are also operational here. Numerous other reputed educational institutions are being set up such as Modern School and some upcoming Universities.
- According to the latest New Gurgaon-Manesar plan 2031, more sectors will be developed and hence the Gurgaon property market has a bright future. This master plan is attracting development of commercial and residential properties and is encouraging investors to invest here.
- Many big players of real estate market, including Spaze, DLF, Omaxe, Godrej, Bestech, Raheja Developers, Unitech and more are investing heavily in projects of New Gurgaon. The high-tech corporate office towers like Vatika Towers, Global Foyer, Orchid Square, etc are best examples of big realtors to build best amenities for people of New Gurgaon. KPDK Buildtech is a new entrant with a ground breaking commercial project coming up in Sector 95A of New Gurgaon.
Overall, New Gurgaon property market is buzzing and remains very attractive to people who want to invest their money safely or get their dream home.