Gurugram has emerged as a real estate investment paradise. The city known for its vibrant corporate hubs and leisure destinations is today the most sought-after destination for aspiring professionals. This has led to increased activity in the residential space with micromarkets like Dwarka expressway and SPR stealing the limelight and emerging as a preferred choice.
With 66% growth in sales value in Gurugram at Rs 1.07 lakh crore, Delhi-NCR has overtaken Mumbai and Hyderabad to emerge as the top selling housing market in 2024 at Rs 1.53 lakh crore, according to PropEquity.
The sales value of Gurugram is second only to Mumbai. Cities like Ghaziabad, Greater Noida, Faridabad and New Delhi have also seen a substantial rise in sales value in 2024. Noida, however, saw a slight decline, said PropEquity Founder Samir Jasuja.
Micromarkets like Dwarka Expressway and Southern Peripheral Road have been instrumental in driving most of the demand while micromarkets like Golf Course and Golf Course Extension Road have seen high value sales recorded during the year.
According to the PropEquity report, nearly 31,000 units – 16628 units in Dwarka Expressway and 14224 units in SPR – were launched during 2020-24, constituting close to half of the total launches in Gurugram.Over 26,000 units were absorbed during this period.
SPR connects Golf Course Road with NH-48. It intersects with Sohna Road (NH-248A) at Badshahpur Chowk. Dwarka Expressway provides direct access from SPR to Indira Gandhi International Airport. It also provides direct links with other major micro markets like Golf Course Extension Road, Sohna Road and New Gurgaon. It also provides connectivity via Rapid Metro. The expansion of metro rail and Delhi-Alwar RRTS will further boost connectivity in the region.
Garvit Tiwari, Director and Co-Founder of Property Consulting Firm InfraMantra said, “The Southern Peripheral Road (SPR) has emerged as a key micro-market in Gurugram. The exponential rise in supply suggests the growing demand owing to increased commercial activity, infrastructure development and connectivity to all parts of NCR.High-end luxury projects like Tulip Crimson in Sector 70 has been drawing investors and end-users owing to its locational advantage, trusted legacy and good return on investment.”
Dwarka Expressway, an elevated urban expressway, connects Dwarka in Delhi to Kherki Dhaula Toll Plaza in Gurgaon, and connects with SPR via the Central Peripheral Road (CPR) forming a crescent shaped corridor that boosts connectivity within Gurugram.
On Dwarka Expressway, Tiwari said this micro market has seen prices nearly double in last five years.
“Projects like Vatika Sovereign Park, Westin Residences by Whiteland, Sobha Altus are among the projects that is attracting a lot of interest from homebuyers willing to up their lifestyle and aspirational value.”
Vijay Harsh Jha, founder and CEO of property brokerage firm VS Realtors said Dwarka Expressway is amongst the most sought-after micro-markets in NCR as is evident from the excellent price growth and spurt in launches over the past years.
“Owing to its connectivity within Gurgaon and NCR and to corporate and industrial hubs, airport etc, presence of robust social infrastructure and increasing habitation have shifted the attention of homebuyers to this location. The micro-market has an appetite for more supply and the coming years could witnessed increased real estate activity,” Jha added.
Infrastructure developments like Yashobhoomi Covention Centre and upcoming Dwarka Golf Course in sector 24 have boosted real estate in the region. The redevelopment of Bijwasan Railway Station, located at the intersection of Dwarka Expressway and UER II is likely to improve regional connectivity. The proposed metro connectivity from HUDA City Centre to Cyber City with Spur to Dwarka Expressway covering the distance of 28.50 km having 27 stations on the route will further boost connectivity.
The Haryana government is also developing Global City project along the Dwarka Expressway.
