Why Does Gurgaon have Such a High Potential for Real Estate Development?
With Gurgaon’s real estate market saturated, investors’ attention has switched to New Gurgaon, a burgeoning real estate development hotspot. The area, which is close to the future Dwarka Expressway, has a variety of residential and business alternatives and provides easy access to various sections of the National Capital Region (NCR).
Homes in Gurgaon demand has risen in tandem with the city’s gradual urbanisation. The Residential Apartments in Gurgaon demand from the working population has risen over the previous 4-6 years as a result of the strong presence of IT enterprises in DLF Cyber Hub.
However, as the city’s core districts neared saturation point, growing suburbs like New Gurgaon benefited from the spillover demand. New Gurgaon, which is located along the National Highway (NH) 48, has a great Real Estate Development growth potential, although its civic infrastructure is still being developed.
Nonetheless, with the National Highway Authority of India (NHAI) taking over the Dwarka Expressway, the micro-real market’s estate potential will finally be realised, attracting investors from all across India. Furthermore, the projected Delhi-Mumbai Industrial Corridor (DMIC) and Regional Rapid Transit System (RRTS) will expand the region’s investment opportunities.
Growth in the Real Estate Development Market
There are two primary clusters in New Gurgaon. The first cluster stretches from Sector 102 to Sector 113, while the second cluster stretches from Sector 76 to Sector 95 A.
New Gurgaon was previously considered the Real Estate Development hotbed of Delhi NCR due to its good connectivity with the New Projects on Dwarka Expressway and National Highway 48 (Delhi-Jaipur Expressway). The investor’s love for the stretch can be easily gauged with active projects from numerous reputable real estate developers, including Signature Group, DLF Ltd, M3M Group, Emaar Group, Vatika Group, and Bestech Group, among others.
When it comes to popular Residential Properties In Gurgaon types, 3 BHK configurations account for more than half of the homes available for sale in New Gurgaon, followed by 2 BHK residential flats.
Connectivity in New Projects on Dwarka Expressway
The Dwarka Expressway is a 29-kilometer project that would connect Gurgaon’s Kherki Daula and Delhi’s Mahipalpur. A 19-kilometer section of the highway is in Gurgaon, and the rest is in Delhi. The area’s easy access to the industrial areas of Manesar, Gurgaon, Dharuhera, and Bhiwadi has enhanced Property in Gurgaon demand.
Although the expressway will provide direct connectivity to the Delhi International Airport once it is operational, the lack of metro connectivity remains a concern. It’s a 20-kilometer walk to the nearest Metro station. The projected metro route along the Dwarka Expressway from Sector 23 to Huda City Centre via Sector 100 is expected to provide metro connection; however, the project’s implementation would be key.
Infrastructure and Social Facilities for Citizens
The status of the roads in New Gurgaon has remained a long-standing issue. Despite the presence of social services such as schools and hospitals, there is a scarcity of shopping malls. The majority of Residential Properties sectors have access to water, however certain areas still lack water supply pipelines.
To summarise, despite its shortcomings and ongoing Real Estate Development, the New Gurgaon corridor will continue to be a high-growth corridor. The pace of Real Estate Development will accelerate up after the Dwarka Expressway is open and the Kherki Daula Toll is relocated.