Gurgaon, now Gurugram, is a part of the National Capital Region because of its excellent infrastructure and technological development. Several young enthusiasts and professionals around the country are captivated by the cyber hub in this city. In mere 20-25 years, they have welcomed several shopping malls, healthcare facilities, education institutions, and the world-class Dlf Cyber City. In addition, the coherent connectivity offered by the DMRC and its own Rapid Metro produces Gurgaon as a mirror of India's growth.
Infrastructure and Connectivity
The infrastructure of Gurugram over the last few years has witnessed tremendous change. The thriving construction of high-rise apartments and several malls in areas once a part of barren land. It now possesses excellent healthcare facilities, well-mapped roads and countless other projects. The Delhi Metro and its own Rapid Metro provide connectivity to this ever-transitional city, linked to the capital through the Delhi-Gurgaon Expressway.
Demographic statistics by Population
There has been a massive growth in migration from rural areas to Gurgaon; since Gurgaon has become India's major IT and employment hub of India. Five years back, the population was around 876,824 in Gurugram, while the current population of Gurgaon is 2.3 million. An extreme increase in the growth rate of about 79.93% has been witnessed. The sex ratio remains the same, 852 females for every 1000 males, with a literacy rate of 84.4%.
To keep the city's inhabitants amused and glued, they have built numerous multiplexes, malls, high-street fashion shops, amusement parks and luxury hotels. The lifestyle of this city's people has changed drastically, causing the change in their living standards due to vast development. In a few decades, life in Gurugram has improved and will continue to do so.
Top Localities with Price Trends
The development of numerous localities happened due to Gurgaon's overall growth. The numerous builders of the city gave them what they desired, demanding better living opportunities. Matching international standards, they developed different multi-storeyed buildings and apartments. Sector 49, Sector 15, Sector 82, DLF City Phase 5, Sushant Lok, MG Road, New Gurgaon etc., are some of the central localities where one can discover the best property in Gurgaon.
Top Localities In Gurugram for Rent / Sale
Monthly Rental Of Rs. 20k
It's a part of the old Gurugram area, including Sectors 17A, 17B, and 17C. You will find independent houses and bungalows near the IFFCO chowk. DLF Cyber City is 6.1 km away from it, making the area suitable for great nightlife, restaurants, and prevalent workplaces. At 20k per month, a 2 BHK house can be available for you.
It's 4.2 km away from DLF Cyber City and is located near Delhi's Kapashera border. There are several good market areas as it shares boundaries with Sec-22 and Sec-23. Gurgaon Infospace Limited is situated in this sector, a vast corporate building lodging many private companies. This sector has no high-rise apartments; it only has independent houses. The rental price ranges from 18k-22k per month for a 2 BHK flat. Also, around 2 km, the Columbia Asia Hospital is situated.
It's a part of the New Gurgaon locality. In this area, all the recently constructed apartments are available. DLF Cyber City is half an hour away and close to Sectors 93 and 105. The rent ranges from 15k- 20k for 2-3BHK.
Monthly Rental Between Rs.20k – 30k
DLF Phase 3
It's also known as Sector 24 with Rapid metro connectivity. DLF Cyber City and Ambience Mall of Gurgaon are just 6 minutes away. Independent houses and bungalows surround a Neelkanth Hospital in this sector. The price ranges between 25k-30k for 2 BHK per month.
It is 5.6 km from Huda City Center Metro station and a well-known shopping destination Ardee City Mall, where one can explore various famous brands. With many good hospitals and schools, this area is perfect for families. For 2 BHK flats/apartments, the rent ranges between 20k-30k per month.
It's situated near Sector 21 and about 20 minutes away from DLF Cyber City. This locality is covered with independent houses and bungalows, making it a bit away from the hustles of the city. The rent price ranges from 20k to 30k for 2 BHK flats/apartments per month.
Monthly Rental Above Rs. 30k
Sushant Lok Phase I
This location in Gurugram is one of the prime and sought-after. It is well connected to the MG Road and IFFCO Chowk Metro Stations. This locality has a combination of bungalows and apartments. The price range for rent would vary but starts at 30k per month for a 2 BHK house.
DLF Cyber City is about 13 km from this locality and is the closest to sector 48. It has Vakita City, one of the premium projects, and numerous high-rise apartments. Sector 49 stretches over 34 acres, making it the region's largest group housing development project ever. It provides easy access to cinemas, shopping malls, parks, fitness centres, hotels, banks, markets, and shops near Sohna Road. The price range varies from 30k to 45k per month for rent 3 and 4 BHK flats.
DLF Phase 1
It is situated near South-West Delhi and North-Eastern Gurugram DLF Phase-1 and boasts superior connectivity with Faridabad and Delhi. It's entirely dominated by bungalows and massive apartments, making it the nearest to the DLF Cyber City and Golf Course. Sikanderpur is the nearest metro station on the yellow line. The initial price for 2 and 3 BHK rental flats begins at 30k and 50k per month, respectively.
Real Estate Market in Gurugram
Its builders require the most praise for the infrastructure development of a city. They play a significant role in bringing the city to its present height. Ansal API, Unitech, Omaxe, Godrej, and Parsvnath are the top 5 builders of Gurgaon who have contributed to this development.
Projects in Gurgaon: New projects in Gurugram
For the needs of the locals as well as the migrants, many upcoming projects will suit them. Gurgaon's real estate market is blessed with some future-ready projects, from cheap flats to luxurious villas. Real Estate in Gurgaon will not disappoint anyone of you, whether you want to invest in retail property for your business initiative or want to buy a home to live in this smart city.
Government Projects in Gurgaon
Haryana Urban Development Authority has launched HUDA Government. At a very reasonable price, one can buy 1 to 3 BHK flats with the help of the Affordable Housing Scheme in Gurgaon. People can get their house 90% financed in easy instalments by paying for the carpet area. To quickly find a home they can call their own, people from the lower class to higher income can do so with these upcoming schemes to fulfil their dreams.
Real Estate Future and growth opportunity in Gurugram
For the initial half of 2022, Gurgaon has seen healthy growth in its real estate sector compared to previous years. The real estate sector's growth suggests profitable turns for the market in the Millennium City shortly. It exhibits that the market is steadily settling with adequate transparency and accountability post RERA and GST. With 50% YoY growth in new launches, real estate in Gurgaon is in the boom. Buyer sentiments have improved and are shown through these reports and studies. Due to the development of the Dwarka Expressway, the real estate sector has plenty of opportunities to grow and spur new project launches. The GMDA is fully operational now, and future infrastructural initiatives are expected to boost real estate markets in Gurgaon significantly.
Real Estate Opportunities and Demands
There are plenty of opportunities and demand for work. It follows the law of supply and demand; when there are more buyers, the price of those properties will increase by 100%, and it varies depending on the region. Numerous factors have driven up the demand for real estates, such as high rents, demographics, higher income, taxation influence, etc.
Property Investment Options in Gurugram
Investors look at the scope of earning a hefty income on their investments. Hence, before finalising, they look for connectivity, affordability and ease of living as essential factors from buyers' point of view. The main hotspots to buy a property are Sector 48, 49, 57, 65, and 102, with good shot prices ranging between 30-40k per month. Buy yours now!
Gurugram Property Statistics
For every square foot, the price can range up to 55k, making Sushant Lok and sector 113 the most expensive property in Gurugram. There’s a huge competition between multiple builders and buyers to snatch the best property they can put their hand on. Price may vary with time depending on the need of buyers and the locality. If you’re searching for a good high-end property, buy yours in the above places.
Market Size of Real Estate in Gurugram
Real estate is one of the highest employment generators after the agriculture sector. India will surpass the expected market size by the US $ 1 trillion in the next ten years. It will contribute 13% to our country's GDP by 2025. Due to the emergence of urbanisation, the nuclear family and rising household income are the major factors of real estate growth in terms of commercial, residential, and retail. It is estimated that India will have a market share of 40% by the next two years.
The country has been producing 46 million square feet in 2022 with an estimated 40% market share growth compared to the expected market growth of 70 million square feet with continous growth of 27% per year by the end of 2028. Indian firms are expected to rise by 3.5 trillion INR as estimated by ICRA real estate and infrastructure investment trusts in 2022, compared with raised funds worth US$ 29 billion.
Gurugram Top Real Estate Companies:
Real estate today is more dynamic as individual preferences keep changing. As an affordable property market, we keep track of people's needs and provide them with the best. Our team focuses on affordable residential and commercial properties in Gurgaon and Sohna. Some of the major Real Estate companies found and known in Gurugram are as follows: DLF Homes, TATA Housing, Mahindra Lifespaces, Godrej Properties, Adani Group, Ashiana Housing, Unitech Group, Signature Global, Vatika Group, M3M India, CGHS Developer, Ansal Buildwell, Emaar MGF Land, and Raheja Developers.
Q1. How is the real estate market in Gurugram?
Ans. The prices have risen recently, making it one of the most expensive residential cities.
Q2. Why are property rates so high in Gurugram?
Ans. Because of the high Demand and supply, due to the selling of land to either the government or the builders, people have become rich.
Q3. Is it reasonable to buy property in Gurugram?
Ans. Buying a property in Gurgaon would force you to search your pocket or browse your savings bank account. It is an expensive city in comparison to its nearby cities.
Q4. Which is the cheapest place to live in Gurugram?
Ans. The cheapest place in Gurgaon will be Old Gurgaon, but rent there for 2 BHK or 2 BR will be not less than 7K.
Q5. Which is the most expensive place to live in Gurugram?
Ans. Golf Course Road, Sector 42, is the poshest area in Gurgaon. In recent years, the site has emerged as the hub for the best residential.
Q6. How much does an apartment in Gurugram cost?
Ans. For a mere 2 BHK apartments, the cost is 50 lakhs.
Q7. Gurugram vs Mumbai Real Estate Market
Ans. Mumbai is a better investment market than Gurgaon.
Q8. Best Real Estate in Gurugram?
Ans. The top builders in Gurugram are Godrej Properties and Shapoorji Pallonji Real Estate.
Q9. What are the average Gurugram House Rates?
Ans. The house rents would cost around 15-25k. But your overall cost of living in Gurgaon can be up to Rs. 40k-65k for a comfortable living. If you choose luxurious options, this approximate cost can go up as much as possible.
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