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New Gurgaon: Haven for New Private send-offs in Delhi NCR

Touted to be the next investment hotspot in Delhi NCR, New Gurgaon enjoys a strategic location between Delhi and Manesar. The area comprises of the sectors located on either side of NH-8, lying West of Kherki Daula Toll Plaza.

After grappling with infrastructure issues for years, resulting in project delays, New Gurgaon’s real estate market finally seems to be gaining momentum. The area caught the interest of homebuyers due to competitive property prices as compared to Gurgaon and has been in the news ever since the announcement of Dwarka Expressway andSouthern Peripheral Road (SPR). With a wide array of options across diverse range projects, the area offers affordability with high-end living to the residents. One of the major factors behind the augmenting popularity of the region is its connectivity to key employment hubs, including Sohna Road, Cyber City, Sector 30, and Udyog Vihar.

Amarjit Bakshi, Chairman and Managing Director, Central Park, avers “Most of the developers in New Gurgaon offer plenty of options for consumers in both ready and under-construction segments with a price difference of about 20-25 percent when compared to Gurgaon.” DLF, Godrej Properties, Emaar, Bestech, Vatika Group, Microtek Infrastructures and Mapsko are some of the renowned real estate developers operating in the region. Recently, Shapoorji Pallonji, too, has launched its project in Sector-102, Gurgaon."

Residential development in New Gurgaon

While Gurgaon continued to be a prime location for new residential launches in 2020, accounting for over 40 percent of the total supply; New Guragon remained the favourite among developers throughout the year. The area witnessed the launch of several new projects in 2020, especially independent builder floors and apartment complexes. According to Madhav Mishra, General Manager, Axiom Land Base Pvt Ltd., “Despite limited new launches, residential supply in New Gurgaon was certainly up owing to the cautious approach of the developers to align the supply with the existing buyer demand. While some developers re-launched their projects, several ongoing projects progressed towards completion."


As per the listings available on 99acres.com, average 'asks' in New Gurgaon hover around Rs 4,600 per sq ft. In the last one year, the locality has witnessed a dip in its property values, albeit minimal, due to the weak market scenario. The availability of a lot of inventory, especially in the secondary market, further refrained the developers from increasing the ‘ask’ rates.

Ready to move-in or under-construction: What do homebuyers prefer?

Mishra adds that demand for ready to move-in inventory or projects nearing completion is on an upswing since such projects have low-risk associated with them. In addition to this, newly launched or re-launched projects by reputed developers have also received good response from the homebuyers over the years. A potential homebuyer can opt for an under-construction unit in the resale market between Rs 3,200-6,000 per sq ft, while the new booking base price of a similar unit is Rs 5,000-7,500 per sq ft.

As per 99acres, over 80 percent of the properties available for sale in New Gurgaon are ready-to-move-in.

Future outlook

In terms of real estate development, New Gurgaon certainly has high growth potential and a bright future. Over the last few years, the sector has observed infrastructure expansion, including the development of schools, banks, restaurants/eateries and a shopping mall. Besides, several developers are trying to tap the potential of this region by launching their projects. Simultaneously, commercial real estate stock is also coming up in the area. Experts believe that the capital and rental market of New Gurgaon is expected to gain more steam  in the next few years due to fast-paced development of social infrastructure in the area.  M3M Capital

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