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Tag: Gaurav K Singh

Average home prices in Gurugram up 76 Percent in 2 years, say’s report

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Gurugram: The real estate prices of houses in Gurugram have risen to an average of 76 percent in the past two years driven by high demand and expectation for more homes. The newly released Prop Index Report by Magic Bricks reveals an average price of Rs 14,650 per sq ft, 15.5% up in the last quarter alone (July to September in the fictitious year 2024).

Mr. Gaurav K Singh, Founder & MD, Womeki Group, “As we embrace the vibrant festival season in India, the real estate market is experiencing a notable transformation. Recent trends reveal a shift in buyer preferences toward spacious homes that offer a blend of comfort and functionality. With remote work becoming a lasting reality, many are seeking properties that accommodate their evolving lifestyles, favoring amenities like home offices and communal spaces. Additionally, attractive financing options and festive discounts create a sense of urgency, prompting many to take the leap into homeownership. Many eager homebuyers wait for this period, motivated by the festive spirit and the desire to invest in new beginnings. real estate developers recognize this enthusiasm and often roll out attractive deals, catering to investors, end users, and channel partners alike. These incentives aim to make homeownership more accessible and appealing, offering prospective buyers additional financial benefits and added value to enhance their festive season. The festival season is not just about celebration; it’s a strategic moment in the real estate market that fosters investment, innovation, and community growth.”

This growth pattern can be accrued mainly to a major infrastructure factor led by the successful construction of Dwarka Expressway. Housing sectors in Gurugram and newer sectors, in particular, have become more attractive to home buying as this major project has helped to increase connectivity between the two cities. While core Gurugram locations remain steep in rates these emerging sectors are gaining attention for affordable prices in housing, especially around central business districts.

Mr. Viren Mehta, Director, ElitePro Infra said, “The Gurugram real estate market has shown remarkable resilience, with property prices increasing by 76% over the past two years. This surge highlights the strong demand for housing, especially in key areas that offer enhanced infrastructure and connectivity. While the supply of residential units has also grown, the rising prices reflect sustained investor confidence and the premium that buyers are willing to pay for quality homes. Developers must now focus on balancing supply and affordability, ensuring that the market remains attractive for both homebuyers and investors alike.”

The report also pointed out that the prices have risen sharply and despite the demand for residential units going up a decent 9.9 percent QoQ, while new supply coming in at a much faster pace of 18.3 percent QoQ, thanks to an increase in the number of new listings and new project launches in the quarter.

Mr. Ashish Agarwal, Director, AU Real estate – Over the last 2 years, we have witnessed an unprecedented surge in home prices in Delhi NCR, driven primarily by the region’s ongoing infrastructure development. The enhancements in connectivity and accessibility have not only elevated the desirability of NCR as a residential destination but have also stimulated significant interest from homebuyers. As we approach the festive quarter, we anticipate continued growth in housing sales, as consumers seek to make meaningful investments during this auspicious time.

Also, there is high demand of ready to move apartments, prices have gone up to 12.9 percent quarter on quarter to Rs 13,729/ sq ft, and under-construction apartment prices have gone up to 17.3 percent quarter on quarter to Rs 16,180/ sq ft.

This report factually shows that 3 BHK units are the most in-demand, taking the majority with 66% of the total share. The average price for these units has increased by 21.6 percent in the last quarter which is at Rs 14,600 per square feet. End-user interest is inclined towards upcoming apartment micro-markets like the Dwarka Expressway where the average residential rate was Rs 14,800 against Rs 12,600 in New Gurgaon and Rs 17,000 in Golf Course Extension.

The Dwarka Expressway along with New Gurgaon and SPR has become the most searched area for real estates, as the report identifies. This change signifies a rise in interest in the real estate market in Gurugram connecting the city as a key player to the Delhi NCR real estate market.

Mr. Santosh Agarwal, CFO and Executive Director of Alphacorp, “The impressive 76% surge in residential prices across Gurugram over the past two years is a clear reflection of the region’s growing demand and strong market fundamentals. Gurugram has transformed into a key real estate destination, attracting both end-users and investors, driven by infrastructural advancements, improved connectivity, and the influx of multinational corporations. This price appreciation also mirrors the rising aspirations for luxury and high-end properties. We view this as a pivotal time to continue enhancing our project offerings with cutting-edge amenities and sustainable designs to meet the evolving needs of discerning buyers. Additionally, Gurugram’s growth trajectory aligns with broader economic trends, making it a robust investment hub for the future. With sustained government support and further infrastructure projects in the pipeline, the outlook remains highly positive for Gurugram’s real estate market.”

With infrastructure gradually developing more and new projects on the horizon, the residential market of Gurugram holds a promise of even more growth and the city remains as one among the top choices for consumers and investors.

Mr. Didar Singh, Senior Vice President – Sales, Trehan Iris, said, “Gurugram has seen a remarkable 76% increase in home prices over the past two years, reflecting its rise as a key business hub. The completion of significant infrastructure projects, particularly the Dwarka Expressway, has enhanced connectivity to Delhi, attracting a growing number of residents. This influx has driven residential demand, pushing prices upward, especially in core areas. As the housing supply increases, newer sectors are emerging, offering quality residential options while still maintaining proximity to major business districts. Moreover, as infrastructure continues to develop, Gurugram’s appeal is set to grow, , further solidifying its position as a prime destination for homebuyers seeking both convenience and value.”

Why These Areas of Gurugram Have Become Property Hotspots and :

With prime locations and excellent infrastructure development in NCR, the Gurugram Dwarka Expressway, Southern Peripheral Road (SPR), New Gurugram, Golf Course Road, Golf Course Extension Road, and Sohna Road have become property hotspots. Home buyers are showing significant interest in these areas. Gurugram is known for its various expressways and has the facilities of Indian Railways, Rapid Metro, and Delhi Metro, with the upcoming Rapid Rail facility also set to become available. Last year, the Haryana government formed Gurugram Metro Rail Limited (GMRL), a special-purpose vehicle to implement the 28.5 km metro expansion project from Millennium City Center to Cyber Hub, which will integrate a large part of the city into the metro network.

Chokhi Dhani concept in Shri Shyam Township, Khatu Shyam, home buyers to get complete enjoyment, know more about that township

Sikar, Rajasthan: Leading real estate developer, Womeki Group, inspired by the cultural richness of Rajasthan’s famous Chokhi Dhani concept, is implementing the same concept at Shri Shyam Township, which is a unique initiative by any real estate developer in the country. This township, 9 KMs from Khatu Shyam Mandir promises to redefine community living by combining traditional charm with modern amenities.

Taking inspiration from the vibrant heritage of Rajasthan, Shri Shyam Township captures the essence of Chokhi Dhani, which will provide residents an immersive experience of the cultural ethos of the state. From the intricacies of the architecture to the beauty of the cuisine, every aspect of Shri Shyam Township resonates with the spirit of Rajasthan.

Chokhi Dhani is a model of a village built in 1989 in the middle of Jaipur city, which is spread over 10 acres. Here you can see folk dances of different areas of Rajasthan, which include Kalbeliya dance, puppet game, marble game, young men and women dancing to the songs of Ila Arun are also seen here. And now all this fun will be available to you soon in Shri Shyam Township being developed by Womeki Group which is also known as ‘Khatu Gaon’.

If we talk about Khatu Shyam Temple, about 10-15 lakh people visit it every month and in such a situation, all the visitors will also get a chance to come face to face with this Rajasthani culture.

Shri Shyam township was launched by Womeki Group last year in April 2023 and the entire plot in this township spread over 60 acres has been sold. There are plots of 100-meter, 200 meter and 1000 meter. There is total 700 plots in this. If we talk about home buyers, most of the buyers are from Delhi NCR. And if we talk about property growth, from the beginning till now, the property rates have increased four times as compared to earlier.

This concept is going to have a different attraction among the home buyers where they will get a glimpse of the culture of Rajasthan within a township.

Speaking on the occasion, Gaurav K Singh, Founder and Chairman, Womeki Group, said, “We are excited to introduce the Chokhi Dhani concept at Shri Shyam Township, which is a testament to our commitment towards innovation and cultural preservation. The concept of this project In, our aim was to create more than just a residential development, we envisioned a living masterpiece that celebrates the rich tapestry of Rajasthan’s traditions. With this initiative we aim to enable our home buyers to enjoy the culture of Rajasthan.”

He further added, “Total project duration is 2 years, we started 10 months back and have already sold more than 50 per cent of total plots available. We are planning to start this township by May 2025. This is a plotted development. We are hoping to give around 400 per cent of client appreciation once the entire project is completed.”

At Shri Shyam Township, residents will embark on a journey through the cultural landscape of Rajasthan, with carefully designed amenities and recreational facilities. The township will have intricately designed residences, adorned with Rajasthani motifs and architecture, offering a harmonious blend of heritage and contemporary living.

Additionally, Shri Shyam Township will boast of a bustling market, reminiscent of the vibrant markets of Rajasthan, where residents can enjoy authentic handicrafts, culinary delights and cultural performances. Additionally, the township will provide recreational amenities such as beautiful gardens, community centers and sports facilities, thereby promoting a sense of belonging and camaraderie among the residents.