Gurugram Stands Out Amid Sluggishness in Realty Market

“Amid sluggishness in NCR’s real estate market, Gurugram bucked the trend with the maximum number of home launches in the region in 2019. And among its three micro markets, New Gurugram accounted for the biggest share of launches, followed by Dwarka Expressway and Sohna, a new report has revealed.

At 19,346 units, the report says, Gurugram contributed around 55% towards new launches in NCR last year — a staggering rise of 72% over 2018, helping the city register its highest supply since 2016. On the other hand,Greater Noida accounted for 12% of the new launches (4,093 units), followed by Noida at 2,951 units, Faridabad at 2,814 units, Ghaziabad at 2,462 units and Delhi at 2,110 units.

The report by real estate consultancy firm Trespect has further analysed the new launches in the three micro markets of Gurugram — New Gurugram, Dwarka Expressway and Sohna — and concluded that they together contributed nearly 73% to the new home launches in the city in 2019. While New Gurugram topped the list with 8,084 units, Dwarka Expressway witnessed the 3,910 new launches and Sohna 2,293 last year, the report says.

Further, of the new units, a sizeable 53% were launched in the affordable segment (below Rs 40 lakh), followed by mid-segment (Rs 40 lakh to Rs 80 lakh) and luxury segment (Rs 80 lakh to Rs 1.5 crore), with 19% and 14% share, respectively. The affordable segment witnessed an almost 100% rise in new launch units when compared to 2018, the report said.

At the same time, Gurugram has an unsold inventory of 57,944 units. In the micro market level, Dwarka Expressway has the highest unsold inventory of nearly 17,000 units. However, the completion of major infrastructure projects such as the Dwarka Expressway and the Sohna Elevated Road and existing easy accessibility via Delhi Metro and Rapid Metro will add to the appeal of this city and help revive the demand in the forthcoming quarters, Trespect hopes.

“Gurugram is clearly the epicentre of all infrastructure activity in Delhi-NCR and this is positively translating into a clear rising sales momentum, especially in New Gurugram, Dwarka Expressway and Sohna,”

Source (Times of India)