Gurugram emerges as real estate powerhouse in 2023
Gurugram has emerged as the unrivalled leader in India’s booming real estate sector in 2023. The city’s dynamic growth is reshaping the landscape, driven by a confluence of factors that are revolutionizing the industry.
From luxury independent floors to sustainable co-living spaces and spacious homes, developers are crafting visionary solutions that cater to a diverse range of preferences. Gurugram is at the epicentre of this transformation, witnessing a surge in innovative projects tailored to meet the evolving needs of the market.
Sharing his insights, Vivek Singhal, CEO, Smartworld Developers, says, “Gurugram stands tall, not only as a city of promise but as an indisputable leader in India’s real estate space, shaping the future of the industry in unprecedented ways. The residential segment is expected to spearhead this phenomenal growth, reflecting the changing preferences of homebuyers. The Gurugram market has witnessed an astounding 20% year-on-year price appreciation with Dwarka Expressway, Golf Course Extension and New Gurgaon topping the charts.”
He adds, “In fact, the Golf Course Extension Road has become the nerve center of Gurgaon due to a flurry of infrastructure developments, luxury residential projects, office spaces, retail spaces, entertainment options, and recreation options. According to reports, between 2019 and 2022, the average rental price for luxury homes of approximately 2,000 square feet in the Golf Course Extension increased by 18 per cent, rising from Rs 49,000 per month in 2019 to Rs 58,000 per month in 2022.”
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Notably, the Gurugram real estate landscape has been abuzz with the news of a significant Rs 100-crore
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