Luxury Projects Demand Increase in Gurgaon

The luxury housing market of the Gurgaon is currently seeing a greater influx of end-user demand, in contrast to the previous trend of the investment-driven purchases.

Gurgaon will continue to see increased investment in the luxury housing space due to the strong demand in the region.

This is also coupled with the fact that Delhi does not create any significant housing supply in the mid-market segment, leading to a spillover for luxury housing into the peripheral locations of Gurgaon.

Gurgaon today has a growth story that mirrors India's growth over the last decade. It has become the city with the third highest per capita income in India.

The luxury housing market of the Gurgaon is currently seeing a greater influx of demand, in contrast to the previous trend of the investment driven purchase. The sale of luxury projects has risen by around 30% in the past few years, with luxury housing in Gurgaon seeing both demand and value appreciation.

Spurred by new projects offerings, greater influx of end-user demand, and a burgeoning upwardly-mobile segment, luxury and ultra luxury housing projects, are seeing higher demand in the residential market of Gurgaon like Dwarka Expressway, NH-8, Golf Course Extension Road.

On the supply side, some new luxury project launches continued to focus on cost-effective options in alternative markets, particularly in New Gurgaon.

Developers largely focused upon luxury housing in Gurgaon during the first half of 2013; while the second half saw new launches, primarily in the high rise and mid rise segments along the Dwarka Expressway and New Gurgaon area. Even though units in residential projects launched by developers attracted maximum buyer interest and purchases, developers across segments continued to adopt various strategies like further discounts to boost sales.

Sale of luxury projects has risen by 30% in the past few years, with units in this segment in gurgaon seeing demand and value appreciation developers largely focused upon luxury housing in gurgaon during the first half of 2013; while the second half saw new launches, primarily in the high-end and mid-end segments along the dwarka expressway and new gurgaon area. Another hub for premium residential projects is Golf Course Extension Road. The area has premier lifestyle projects in both residential and commercial segments. A numbers of green-rated townships and group-housing projects have been planned on this long stretch directly connecting to the main Gurgaon-Sohna Road.

Golf Course Extension Road is the next destination for premium residential projects in Gurgaon. Besides being well connected, the area offers well-developed infrastructure with 84-metre-wide roads and 24-metre-wide by lanes, which corresponds to developments in the western countries. The area also offers excellent social infrastructure with shopping malls, commercial developments, hospitals, and educational institutions.

The main objective of projects being developed along Golf Course Extension Road by private developers is to create energy-efficient, water-efficient, comfortable, healthy, and environmentally-friendly buildings and homes.

Increasing demand for luxury units, coupled with challenges like insufficient demand, inflation and lack of funding are all likely to put pressure on housing prices in the region in the short to medium term.

However, the situation can be marginally improved if new projects are launched at affordable rates. Values of Projects across most of Delhi's micro markets underwent a marginal dip due to rising preferences for apartment units over builder floors in the region, besides cautious buyer sentiments, over the last few quarters.

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Dwarka Expressway - Boost to Real Estate Market

Connectivity of Gurgaon to Dwarka Expressway bring boost to real estate project which acts as a pull for the buyers and investors. Perception of people buying properties, in terms of distances, has changed as people want to live in well planned projects, which have rapid commuting infrastructure. Properties that have come up near this expressway have seen a tremendous response.

The Dwarka Expressway is receiving more attention today. The road starts from Dwarka to the NH-8. Customers are attracting to projects located on Dwarka Expressways, as they provide good connectivity to nearby areas.

Developers and Buyers are jostling to get a fair share of the pie in this area. Reason behind the heightened expectations and interest is good connectivity, which the Dwarka Expressway will provide. It will provide faster access to the airport; connect close to the 100-metre-wide road proposed in the new master plan, and the areas will also have good connectivity with the proposed diplomatic enclave and the current Metro corridor.

Sectors near the Dwarka expressway are Sectors 99 to 113, 83 to 86. The Gurgaon-Manesar Master Plan-2012 has given a boost to the Expressway. The total stretch covered by the expressway is around 18km including a wide road, which is around 150 meters wide, starting from Dwarka and connecting to Palam Vihar. The main objective of the expressway is to reduce the travel time of people commuting from West Delhi to Gurgaon.

Dwarka Expressway is the lifeline for people who are living in Dwarka and working in Gurgaon. Development is taking shape at a very fast pace. It is developing as a hub for commercial and entertainment activities and is amongst the most preferred locations to stay in the NCR region, with its proximity to Gurgaon and link to Delhi-Noida.

The Expressway, which is under construction, will join new residential colonies, apart from the commercial corridors.

Realty experts say that the land acquisition for the expressway is nearing completion; the demolition of some houses in Palam Vihar in litigation and a final verdict is awaited. Sectors on the expressway, like Sectors 110A, 111, 112 and 113, which are near Delhi, are likely to see higher appreciation in the future. Sectors near the expressway are Sectors 37D, 83, 84, 88, 99, 100, 101, to 110 are being developed as residential and commercial, with the maximum area dedicated for residential development.

The appreciation of property prices will be good near this area. The land value of the areas adjoining the Dwarka Expressway is already being compared to that of Dwarka. Property prices are going up rapidly, having shown an increase of Rs 1,100-2,000 per sq ft in the last two years. Starting from Rs 2,800-3,500, prices have now touched Rs 3,900-5,500 per sq ft. New Gurgaon and other areas coming up here will be more expensive once the NPR is ready,

The popularity of the area has seen big names of the real estate industry entering the market of this expressway. Some of the big names are SS Group (SS Omnia-86, The Leaf-85, Almeria-84), Ansal Group (Ansal Hub 83, Ansal Amantre – 88A, Ansal Upcoming Commercial - 103).

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Dwarka Expressway: Hub for Commercial Projects

Dwarka Expressway stretch could turn out to be the Hub for commercial projects once it’s completed.




Millions of commuters can soon actually enjoy the drive between the NCR and Millennium City Gurgaon, as around 14km of the 18km-long Dwarka Expressway is ready and, the rest is expected to be completed by next year. This is indeed good news for those who have booked flats here, as it a sure signal for prospective end users and investors as once the Dwarka expressway becomes operational, prices are likely to shoot up and go beyond the reach of many of the fence sitters.

Commercial projects surrounding the expressway are among the best for real estate investment given their proximity to the international airport, the proposed Metro station, railway station.

Today, Dwarka Expressway has emerged as a prime destination. Investor experts are bullish about this area and say that it is poised for phenomenal growth with the best names in the realty industry having launched commercial projects here. This is the right time to invest as prices here have stabilized and would only rise, exponentially, here on.

Apart from smooth connectivity, planned urbanization and infrastructural development along Dwarka Expressway makes the area a favored destination for investors. When operational, the Dwarka expressway will act as a new business channel between Delhi and Gurgaon.

Various commercial options are available at lesser price than most places in Gurgaon. Ansal is coming up with Ansal Hub in Sector 83 which has retail shops; AMB Group will be launching its project AMB Selfie Square with high street retail shops, food zone, clubbing zone, spa & fitness etc.  SS Group brings SS Omnia in sector 86 which have retail, office, restaurant space as well as studio apartments.

Today, commercial development is visible near Dwarka Expressway. This area has been booming with IT-ITeS sectors, corporate offices, shopping malls, studio apartments etc. This will ensure that this area has enough employment opportunities and “walk to work“is not a dream. Many industry watchers have already begun calling Dwarka Expressway the centre of Gurgaon!

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Dwarka Expressway - Hub for Residential Projects

According to industry estimates, currently New Gurgaon & Dwarka Expressway collectively have over 45,000 residential units under construction, a majority of which are likely to be delivered between 2015 and 2018.

Dwarka Expressway’s residential market has been one of the prime activity centers for investors and home buyers, as its housing supply is keeping pace with demand.

A report says that Gurgaon is the second largest contributor to the NCR’s residential market supply after the developing twin cities of Noida-Greater Noida.

Experts estimate that the developing pockets of New Gurgaon contribute 24% of the units under construction in the Delhi NCR region and within Gurgaon the emerging destination of Dwarka Expressway is significantly contributing to this supply.

The attractiveness of the real estate hot spots has increased even more because these fulfill the rising residential demand within the region with better-quality properties.

The new sectors falling under these regions have progressed to become the signposts of rapid development and massive commercial growth in the last few years.

Property expert say that realty development along Dwarka Expressway is being acclaimed as the home of high-income group individuals, as even the affordable apartment can only be had in the range of around Rs 50-60 Lacs. Hence to secure potential customers, there has been a contest to set up commercial locations on the expressway to obtain most of the business leverage. Also, in light of such comprehensive facilities in the form of a wide range of commercial and institutional establishments, the demand for residential units in Dwarka Expressway, too, has gone up in recent years.

Established and renowned developers like SS Group, Ansal Housing, Vatika, BPTP etc, have already launched projects and commenced construction on Dwarka Expressway. NCR-based SS Group is developing a couple of projects on Dwarka Expressway. They are developing one ultra luxury residential project in Sector 83 & one commercial project in Sector 86 Gurgaon.

The project is strategically located at the intersection of NH-8 and Dwarka Expressway, in Sector 83 & 86 Gurgaon. Its connectivity will be further enhanced by a new ISBT terminal and a proposed Metro station in the vicinity.

GURGAON IS THE QUICK SECOND LARGEST CONTRIBUTOR TO THE NCR'S RESIDENTIAL MARKET SUPPLY AFTER THE DEVELOPING TWIN CITIES OF NOIDA-GREATER BITES NOIDA, WITH THE DEVELOPING POCKETS OF NEW GURGAON CONTRIBUTING 24% OF THE UNITS UNDER CONSTRUCTION IN THE DELHI NCR REGION.

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NEW GURGAON - INVESTOR'S PARADISE

New Gurgaon near Dwarka Expressway is an investor's paradise and analysts highly recommend projects in this area. 

According to the recent report, properties in as many as 30 sectors of Gurgaon have appreciated by more than 100% in the last four years. Development activities in New Gurgaon have given a new lease of life to the real estate activities in Gurgaon, after the merger of master plans of Gurgaon and Manesar.

At present, New Gurgaon is home to the highest number of professionals per sq km in the country and also has the third highest per capita income.

Top notch realty players and promoters like SS Group, Ansal API, Unitech, DLF, Vatika among others, were the pioneers in identifying Gurgaon as a strategic location and establishing it as the hub for residential and commercial projects.

The new sectors of New Gurgaon, including Golf Course Extension Road, NH-8, Dwarka Expressway & a proposed ISBT project is also going to see planned and effective civic infrastructure. Wider roads, less congestion, more open spaces, and easy commuting due to access to NH-8 and Dwarka Expressway are other advantages of investing in Gurgaon and its peripheral areas. All these factors promise good returns and make New Gurgaon an ideal destination for investment.

Over the years, new realty sectors of Gurgaon have seen vast improvement in infrastructure with the development of new roads and highways like Dwarka Expressway, NH 8 and better connectivity through the launch of Metro and Rapid Metro.

With the presence of over fifty listed companies in Fortune 500 and a large presence of almost all Indian blue-chip companies, Gurgaon is now the corporate capital of northern India.

As employment opportunities and industries grow in Gurgaon, many HNIs and investors are choosing to shift over there. This is evident from one of the recent reports which said that the maximum demand in Gurgaon was registered for units worth Rs 1 to 2 crore, closely followed by properties worth Rs 60 to 100 lakh for the quarter ending June 2014.

The New Gurgaon micro market is located towards the western periphery of Gurgaon. It is composed of Sectors 81, 81 A, 82, 82 A, 83, 84, 85, 86, 88, 89, 90, 91, 92, 93, 94, and 95 and promises to deliver over 26,000 residential units.

According to Gurgaon-Manesar Master Plan, 2031, New Gurgaon has been zoned primarily for residential development purposes. Most of the project launches took place between 2009 and 2012.

In the primary market, a number of premium projects were launched including The Leaf by SS Group in Sector 85, Ansal Hub by Ansal Housing in Sector 83, Burman GSC by Burman Group in Sectror 82A etc.

SS Group in New Gurgaon is set to change the skyline of the Millennium City, offering new avenues of growth development.  The group has diversified in Residential, Commercial projects with Brewery, Healthcare, Hospitality and Education.

New Gurgaon has grown and progressed beyond recognition over the last decade. It has Lofty skyscrapers and world-class townships define the skyline of the Delhi NCR's fastest growing satellite city.

A huge supply of quality residential & commercial real estate has helped the region grow fast, providing fresh minimum mass for the development of real estate in Gurgaon in the last couples of years.

New Gurgaon has nearly 48,000 units in the area, out of which over 3,100 apartments are getting ready for possession, with around 8,000 customers ready to move into SS Group City alone. SS Group is the largest developer in the region and is credited as the main driver of the development of Gurgaon. Its project, The Coralwood, is one of the most sought after projects in the New Gurgaon area. This gated township is located along with 85% green expanse. Located in close vicinity of the IGI airport, The Coralwood has the advantage of superb connectivity through the forthcoming Dwarka Gurgaon Expressway and NH8.

A host of new projects have been launched by SS Group in New Gurgaon along Dwarka Expressway & NH-8, connecting Gurgaon to Manesar.

Favoured by both budget-home as well as premium-home developers, some of the recent launches in the premium segment in and around SS Group’s the Coralwood include The Leaf, A Almeria etc. This has attracted high net worth buyers and investors who seek capital appreciation opportunities.

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