Gurgaon has long been a focal point of India’s real estate sector, and this bustling city in the National Capital Region (NCR) has witnessed phenomenal urbanization and commercial growth in the past two to three decades. This is reflected in the indicators of real estate investments in every successive quarter—a significant boost for promoters, the state government, and a source of cheer for investors, signaling appreciation in land and property value.
Home to numerous multinational corporations and IT giants, Gurgaon’s presence not only drives demand for commercial real estate but also fuels the scope of residential development for employees seeking proximity to their workplaces.
The substantial investment in real estate is supported by massive investments in infrastructure projects, such as the Dwarka Expressway, RRTS, Indian Railway revamping of old railway stations, Sohna Road, and many others under consideration and at various stages. These developments have instilled faith in people regarding real estate investment, improving connectivity and making Gurgaon an attractive destination for real estate investments catering to the needs of the millennial workforce—forming a niche market within the real estate sector itself.
Real estate promoters have been focusing on budget-friendly housing projects to cater to a broader spectrum of property buyers, generating interest from investors. Next to Bengaluru, Mumbai, and Delhi, this millennium city has become a suitable and profitable market for foreign investment, particularly from global funds and private equity firms, due to its strategic location and potential for high returns.
The Indian real estate sector is undergoing a transition phase five years after the establishment of real estate regulatory bodies across the states. Gurgaon is the city within the state that has a separate RERA body, registering its immense potential, while the state’s main body is at Panchkula. It is not surprising that the Indian real estate sector has marked phenomenal investments during the third quarter of 2023, reflecting an 82 percent growth from the same period last year.
A superb sign is that the residential sector in the country attracted the highest institutional investments during this quarter, with the share for the industrial and warehousing sectors increasing to 28 percent in Q3 2023. In real estate terms, Mumbai, Bangalore, or other top cities have historically been real estate hotspots of India with high property prices and strong demand for commercial and residential properties. However, Gurgaon has gained an edge in the past few decades due to its relatively lower land prices, robust infrastructure development, and various job-oriented factors.
Close to the national capital and international airport, Gurgaon’s real estate funding in the latest quarter has been robust, largely driven by a combination of factors such as a strong corporate presence, infrastructure development, co-living and working trends, and budget-friendly housing initiatives by the government. Signature Global City, the most trustworthy real estate promoter, has marked a niche in shaping the housing needs of the city’s burgeoning population—especially low and mid-segment families.