With increasing last-mile connectivity and infrastructural developments, many new areas have emerged in NCR that has today become a hub of new housing project launches and re-launches. Among all these areas, New Gurgaon which is an extension to the Millennium City Gurgaon is emerging as a hot favourite residential investment destination among prospective homebuyers.
According to recent data, around 52% of new launches took place in Gurgaon last year, of which maximum was in New Gurgaon. Due to sound connectivity, the area has also caught the attention of leading developers to construct their projects here. Take a look at other important features of New Gurgaon:
Location and Connectivity
Starting from sector 81, New Gurgaon is divided into two clusters- one from Sector 81- to Sector 95 A and another from sector 102-114. The locality is well-connected to surrounding areas via a thriving road network. NH8, KMP Expressway, and Dwarka-Gurgaon Expressway make this area easily accessible from Gurgaon. Apart from this, Railway Station and IGI Airport are also in close proximity to New Gurgaon.
Known for the presence of Pataudi Palace, New Gurgaon holds a burgeoning infrastructure in its kitty. Highways, expressway, and many arterial roads connect this place well to other adjacent areas. All the infrastructural facilities have been planned and executed by HUDA.
New Gurgaon is home to various renowned schools, private educational institutes, hospitals, malls, Banks and ATMs and other recreation centres. St. Xavier’s School, RPS International School, MatriKiran, DPS, Modern School and Max Hospital are present in New Gurgaon. Leading IT companies like Google, TCS, and GE have also taken up large office spaces here in order to set up their branch offices here.
Presence of wide and well-developed roads, sewage connections and green landscape further enhance the livability quotient of the area.
Real Estate Market
Due to the presence of developed infrastructure and upcoming commercial offices, many leading developers like DLF, Vatika, Godrej Properties, Emaar, Bestech, and Mapsko have come up with their projects. All these projects are in various stages of construction with some among them completed and are ready for possession. Recently, Shapoorji Pallonji has announced their housing project ‘joyville’ in sector-102.
However, home buyers are more interested in ready to move in inventories as compared to under-construction one. Those looking for luxury homes, New Gurgaon have many options for them. DLF Skycourt, Godrej Air, Bestech Park View Grand Spa are some of the projects where a 2, 3 or 4 BHK is available at a price starting from a crore.
Property Price and Trend
At present, the average property price in New Gurgaon is Rs 5073 per sqft. While the minimum property rate starts at Rs 3930 per sqft; the maximum price of a residential unit costs Rs 6216 per sqft.
Furthermore, due to rapid urbanization, the property prices are increasing at a faster rate and have the potential to grow more. As per the experts, this momentum will continue for the next two years and the area is going to see an upsurge in the rates.