The population is growing rapidly in Delhi and in the NCR cities, with Gurugram being a focal point. One among many reasons is the availability of job opportunities, better education, and a quality life, etc. The estimated population plan in the NCR cities exceeds expectations, with Gurugram expected to reach 40 lakhs or more by 2031. This is likely to significantly boost housing demand and real estate sales growth in the next financial year and year on year thereafter.
The NCR Planning Board and other state governments that are part of the board are working on building seamless road and rail corridors for better urban planning. Based on these infrastructure development parameters, real estate analysis agencies believe that the financial year 2024-25 will witness superb sales, particularly in pre-sale homes. Pre-sale homes are available for purchase before they are ready for move-in. This could be a home purchased before construction begins or one booked/bought while construction is underway. Buying or booking a home/flat/apartment in presale is a smart choice that saves both time and money and provides relief from market fluctuations.
It’s important to note that the real estate sector is under strict observation by real estate regulatory authorities, and promoters are obligated to disseminate every detail of projects in the public domain to maintain transparency. Similarly, the NCR Planning Board, formed for seamless infrastructure development and better urban planning in the region, is focused on developing road and rail or metro connectivity.
Gurugram, being close to the international airport (Delhi) and now a global business center, has experienced remarkable real estate property appreciation. Buying a property in Gurugram is considered a business start-up, with property prices doubling in three years or less. Key factors contributing to property appreciation and rapid population growth include KMP, DMIC, Dwarka Expressway, Maruti, FlipKart, Jungle Safari (proposal), Global City (proposal), and many other job-oriented establishments.
Based on these parameters, a surge in real estate sales in 2024, with real estate promoters launching new projects and selling inventories, is not unexpected. Signature Global, in the past few decades, has provided maximum housing units to a large section of the population, being friendly in terms of both the environment and budget.
A similar situation exists in other cities in India, mainly in NCR cities, where the Centre is attempting to address the housing needs of the increasing urban population through financial assistance and by providing low-budget housing schemes, etc.