Gurugram prices on a strong footing

Property prices in Gurugram have shown a positive growth in 2018 so far. According to  99acres Insite report for Apr-Jun quarter Gurugram witnessed a marginal upswing in home values, while the twin cities of Noida and Greater Noida reported a plateauing market. Delhi recorded a stable realty landscape in anticipation of the long-pending Dwarka Expressway. 

Commenting on the report, Maneesh Upadhyaya, Chief Business Officer, 99acres.com, said, “While the average sale prices of residential apartments have been plateauing for many quarters in Delhi NCR, the sales volume went up in Gurugram in Apr-Jun over Jan-Mar 2018. Construction activity is on a rise around Dwarka Expressway and certain pockets of Gurugram, which is expected to be fully operational by February 2019. This has lifted market sentiment and the average ‘asks’ around the belt may see an uptick in quarters to come. The rental markets of Gurugram and Delhi also saw residential leasing rates going up by three per cent, each, over the last one year. To summarise, Delhi NCR’s real estate market is benefitting from steadily improving connectivity and has positioned itself on the recovery path."

Availability of affordable homes, expanding the metro network and new roadways facilitating inter-city connectivity, Delhi's real estate reported a happier market in Apr-Jun 2018. Price points, however, continued to remain meek, with only select residential belts in proximity to road and rail infrastructure showcasing a positive movement.