Real Estate: Gurugram's new micro-markets take center stage in NCR's realty scene

Gurugram, the bustling satellite city of Delhi, which was earlier known as Gurgaon, is witnessing a surge in demand for residential real estate, with several emerging micro-markets becoming hotspots for investors and homebuyers alike. Among these, Golf Course Extension Road, Dwarka Expressway, and sectors 77 and 76 have emerged as frontrunners, attracting attention for their promising growth prospects and attractive investment opportunities.

Golf Course Extension Road

Golf Course Extension Road, long touted as one of Gurugram's most upscale residential corridors, continues to captivate investors with its luxurious offerings and premium amenities. Boasting world-class infrastructure and proximity to prominent business districts and renowned educational institutions, Golf Course Extension Road has cemented its status as a sought-after destination for luxury living. 

Leading developers like M3M India, Signature Global, Puri, Godrej, and Smartworld Developers have a strong presence in this region. Last year, India’s leading listed developer DLF also entered this micro-market by launching a luxury high-rise project, The Arbour. Despite premium pricing of about Rs 18,000 per square foot, the project was fully sold out within three days before its launch, surpassing the market's average rate and indicating renewed interest and confidence in the area's real estate market.

Smartworld had launched its inaugural project, Smartworld Orchard at sector 61, Golf Course Extension Road in 2021. The project was received well, and following this the company also launched the premium high street retail project, Smartworld Orchard Street in the vicinity spread over 100,000 sq ft in size.

Commenting on the Golf Course Extension Road area, Vivek Singhal, CEO of Smartworld Developers, said, “Golf Course Road Extension is one of Gurugram’s most promising micro-markets. It has become the nerve centre of Gurugram due to a flurry of infrastructure developments, luxury residential projects, office spaces, retail spaces, entertainment, and recreation options.” 

Dwarka Expressway

Similarly, Dwarka Expressway, often referred to as Gurugram's 'Gateway to Growth,' has emerged as a prime investment destination due to its strategic location and ambitious infrastructure projects. With rapid urbanization and development along the expressway, sectors along this corridor have become magnets for residential development, offering affordable to luxury housing options coupled with excellent connectivity to Delhi and other parts of NCR. 

The recent inauguration of the Dwarka Expressway has set the stage for a potential real estate boom in Gurugram, marking a significant milestone in the region's urban development. Leading real estate developer Elan has launched its inaugural residential project, The Presidential, located at sector 106 along Dwarka Expressway, and is receiving a good response from homebuyers.

Talking about Dwarka Expressway, Vineet Dawar, Senior VP, Sales & Strategy of Elan Group, said, “Dwarka Expressway has emerged as one of the most promising areas, with its strategic positioning, exceptional connectivity, and flourishing corporate landscape significantly bolstering its allure for real estate investments. The expressway's promise of unparalleled connectivity and convenience has already sparked a remarkable surge in demand, particularly in Sector 84 & 106, where we've witnessed an impressive 27 per cent and 12.5 27 per cent year-on-year growth in the previous quarter respectively.”

Smartworld Developers' Singhal further added, “The highly-anticipated inauguration of Dwarka Expressway marks a monumental shift in the region's real estate dynamics. This corridor not only enhances connectivity but elevates the entire living experience, attracting discerning buyers and savvy investors to the forefront of modern living. The steady ascent in property values, particularly in Sector 113 with impressive price growth in the last quarters, underscores the burgeoning demand for spaces that blend luxury with functionality.”

Sectors 77 and 76 

Sectors 77 and 76 along the Southern Peripheral Road (SPR) are also making waves in Gurugram's real estate landscape, attracting attention for their well-planned infrastructure, green spaces, and proximity to commercial hubs. With a plethora of residential projects offering modern amenities and lifestyle conveniences, these sectors have emerged as favored destinations for homebuyers seeking a balanced lifestyle amidst urban comforts. 

Developers such as DLF, Emaar, Whiteland, and M3M have seized the opportunity to establish their presence in the area. With its close proximity to prominent commercial hubs like DLF Corporate Greens, TCS, the forthcoming Amex Campus, and dedicated commercial sectors spanning approximately 385 acres (Sectors 75 and 74A), the vicinity offers plenty of amenities. 

DLF recently launched DLF Privana South, a luxury high-rise project in sectors 76 and 77, selling out all 1,113 high-end luxury residential units of this project for Rs 7,200 crore within 72 hours ahead of its official launch. DLF Privana South is part of the larger integrated township DLF Privana, spanning about 116 acres. This has brought these sectors back into the spotlight, leading to other developers also launching projects in this region.

The allure of these emerging micro-markets lies in their potential for long-term appreciation, coupled with the promise of a quality lifestyle. As Gurugram continues to evolve as a vibrant real estate hub, these micro-markets are poised to lead the charge, offering investors and homebuyers a diverse range of residential options and investment avenues.