Transit Oriented Development Corridors Emerge as the Epicentre of Real Estate Demand in Gurugram

Transit Oriented Development Corridors Emerge as the Epicentre of Real Estate Demand in Gurugram

Gurugram: In Gurugram’s bustling real estate landscape, Transit Oriented Development (TOD) Corridors have emerged as the epitome of development and financial promise. The quintessential example of this is the Dwarka Expressway, which with its strategic location and potential for infrastructural enhancements has captivated the attention of investors and homeowners alike, while also catalyzing robust growth in property values and demand.

Enhanced Connectivity with the Dwarka expressway, SPR (Southern Peripheral Road), Golf Course Extension Road, Railway station upgradation. Upcoming Metro Rail project, Gurugram is set to witness a significant enhancement in its connectivity network. This strategic development will facilitate smoother and more efficient travel across the city, promising newfound convenience for residents and commuters, Gurugram’s real estate landscape braces for a period of unprecedented growth and development. With improved connectivity, heightened investment potential, and a renewed sense of dynamism, the city is poised to emerge as a real estate powerhouse in the region.

According to the latest Magic Bricks Propindex Report (JFM 2024), the completion of the Dwarka Expressway signifies more than just the construction of a new roadway; it heralds a new era of urban living. The report reveals a marked preference for homebuyers in Gurugram to lean significantly towards bigger accommodations, with 3 BHK homes accounting for a considerable market share of 54%. Reflecting changing urban lifestyle preferences, nearly half of homebuyers express a preference for spacious accommodations.

The report also highlights that mid-sized units ranging from 1,250 to 2,000 square feet have witnessed the highest traction, commanding a significant 42% demand share. Price trends suggest a preference for houses priced above INR 10,000 per square foot, indicating a strong appetite for luxury or upscale residences. Particularly, luxury properties boasting three bedrooms or more command premium prices, averaging around INR 14,200 per square foot. This highlights a notable divergence in pricing between standard and luxury segments of the market, showcasing distinct demands and amenities associated with each property type.

Sharing his insights Mr. Ravi Aggarwal, Co-founder, and Managing Director, of Signature Global (India) Ltd. said, “The latest report’s insights reveal a clear shift in preferences, with a growing demand for spacious accommodations, particularly 3 BHK homes which dominate with a 54% market share. The surge in mid-sized units suggests an evolving mindset towards larger living spaces, indicative of changing urban dynamics. The preference for luxury or premium residences reflects that homebuyers are seeking upscale amenities and lifestyle. Key corridors like Dwarka Expressway, New Gurugram, and South of Gurugram (Sohna Road) emerge as epicentres of urban transformation, affirming a promising future for both end-users and investors. Some of the most promising areas in Gurugram include Sector 37 D, Sector 71, Dwarka Expressway, sector 84 and Southern Peripheral Road having a variety of housing options available and forthcoming for the mid-income and premium segment housing. As we embrace these insights, it’s clear that Gurugram is poised for dynamic evolution, offering unparalleled opportunities for visionary development.”

Another industry stalwart, Whiteland Corporation, has made its mark on the Gurugram real estate landscape with its iconic luxury project, The ASPEN, a premium project located in Sector 76.

Speaking about market dynamics, Mr. Pankaj Pal, Managing Director, Whiteland Corporation stated, “The data confirms our findings on the ground. The Magic Bricks Propindex (JFM 2024) has strengthened our confidence in Gurugram’s real estate sector. The spike in demand, particularly along the Dwarka Expressway, demonstrates an increasing preference for luxury living experiences. Going by the year-on-year data, we are confident that the discerning homebuyer in Gurugram is now more aspirational and is looking to invest in premium properties that match global standards and provide world-class amenities. Therefore, we are confident that Gurugram is well poised to emerge as the most sought-after real estate destination in the years to come”.

Looking ahead at bright future horizons, Gurugram’s real estate industry is riding high on the waves of transition, with the Dwarka Expressway developing as a hub of development and investment.

Vipin Sharma, Founder & Chairman, Aarize Group, “In the wake of the completion of the Dwarka Expressway and the forthcoming enhancements in connectivity infrastructure such as the Southern Peripheral Road, Golf Course Extension Road, and the Metro Rail project, Gurugram’s real estate sector stands at the threshold of transformative growth. As revealed by the latest Magic Bricks Propindex Report, this milestone not only signifies the construction of a roadway but heralds a new era of urban living. Some of the most promising sectors due to its excellent connectivity, especially in the SPR region, Sector like 69, 71, 72 & 76 are attracting buyers. With heightened demand and improved connectivity promising newfound convenience, Gurugram emerges as a real estate powerhouse poised for unprecedented development and investment potential.”

As leading world-class developers continue to redefine urban living, the city’s skyline is set to evolve, offering unparalleled opportunities for investors and homebuyers seeking premium living experiences. With infrastructure advancements and strategic connectivity, Gurugram’s journey towards becoming a global city of tomorrow has only just begun.

Strategic Connectivity: Dwarka Expressway’s Proximity to Major Employment Hubs

The Dwarka Expressway not only offers strategic access to Delhi but also boasts proximity to major employment centers and essential services, sparking unprecedented demand from both developers and customers alike. Magic Bricks Propindex data underscores a considerable year-on-year increase in both ready-to-move (RTM) and under-construction (UC) homes along the Dwarka Expressway, with statistics surging by 36% and 25%, respectively, over the past five years, indicative of its volume impact. This surge in demand translates into substantial property appreciation, presenting lucrative opportunities for early investors.

“The completion of the Dwarka Expressway ushers in a new era of urban living. According to the latest Propindex Report, 3 BHK homes hold 54% market share in Gurugram, with mid-sized units (1,250 – 2,000 sq ft) in high demand at 42%. Buyers show a preference for luxury residences priced above INR 10,000 per sq ft, averaging INR 14,200 per sq ft for properties with three bedrooms or more. This highlights a clear distinction in pricing and amenities between standard and luxury segments, reflecting evolving lifestyle preferences.” Mr. Santosh Agarwal, Executive Director and CFO, Alphacorp

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