PropEquity Highlights 66% Growth in Housing Sales, with Gurugram and Delhi NCR as Key Drivers

PropEquity Highlights 66% Growth in Housing Sales, with Gurugram and Delhi NCR as Key Drivers

Gurugram: According to PropEquity, Gurugram housing market experienced strong demand for luxury housing units in 2024, where the sales rose by 66% to approximately Rs 1.07 lakh crore. In Delhi NCR, the sales value of residential units rose by 63% to 1,53,000 units from 94,143 units.

As per the data, Gurugram’s housing sales rose from 64,314 units to 1,06,739 units in 2023.

This significant growth in Gurugram’s housing market, specifically in the luxury segment can be attributed to multiple key factors. The city’s strategic location and ongoing infrastructure developments, including Dwarka Expressway, Delhi – Gurugram expressway, Delhi – Mumbai expressway, and new metro route plans enhance connectivity to Delhi and other significant areas. These developments have made the city an attractive destination for luxury homebuyers.

Mr. Mohit Malhotra, Founder & CEO, NeoLiv said, “Gurugram has emerged as a prominent housing market, with 66% growth in sales value, as per PropEquity. This has been seen due to growing corporate presence, employment opportunities, and infrastructure development. As a result, demand and property prices have increased in various micro markets of Gurugram. Infrastructure projects like Dwarka Expressway, Delhi – Mumbai Expressway, and Golf Course Road have proved to contribute to this growth. Along with expressways and highways, metro routes have also been planned for better connectivity to prominent locations. Gurugram is a prime example of how new age cities close to major metros become a thriving hub and provide premium lifestyle living. Hubs like Alibaug, Panvel around Mumbai and Sohna, Sonipat, Jewar around Delhi are poised to emerge as clear front runners for attracting mega real estate investment and returns.”

Additionally, as a major corporate hub with numerous MNCs and businesses, Gurugram attracts a growing number of professional population looking for premium residential options. The demand for luxury housing remains robust, which is driven by high – net – worth individuals (HNIs) and non – resident Indians (NRIs) seeking exclusive living spaces offering suitability and a basket of amenities.

Mr. Adil Altaf, Managing Director, Trinity Infratech said, “According to PropEquity, the Gurugram housing market is experiencing strong demand with sales growing by 66%. The city’s real estate market has witnessed a remarkable surge in 2024, with luxury housing sales rising by 66% to approximately Rs 1.07 lakh crore. This growth is driven by the city’s strategic location and ongoing infrastructure developments, such as the Dwarka Expressway and Delhi-Mumbai Expressway. As a major corporate hub, Gurugram attracts professionals seeking premium living spaces. The demand for luxury properties remains robust, fueled by high-net-worth individuals and NRIs. With developers focusing on upscale projects, Gurugram has emerged as a leader in India’s luxury real estate sector, surpassing cities like Mumbai in ultra-luxury housing deals”

In the broader Delhi NCR landscape, these factors have contributed to an overall growth in sales of residential units. This has been underpinned by the region’s ability to offer a blend of luxury, infrastructure, and investment opportunities, which has placed it as a leading catalyst in the Indian real estate sector.

Mr. Robin Pahuja, Co- founder & Director, ElitePro Infra(Gurugram based Property Consultant) says, “Gurugram’s housing market experienced significant growth in 2024, specifically in the luxury segment, with sales rising by 66% to around 1.07 lakh crore, as per PropEquity. This growth number is attributed to the city’s strategic location, ongoing infrastructure developments like the Dwarka Expressway, and its status as a major corporate hub. The demand for luxury housing is highly driven by high – net – worth – individuals (HNIs) and non – resident Indians (NRIs) looking for premium living spaces. The city’s appeal as a business center attracts professionals, further driving demand for high – end properties in the commercial segment as well. This further gives way to the city’s commercial landscape, with a growth in establishment of luxury showrooms, retail spaces, and offices. Improved connectivity and infrastructure makes it an attractive destination for luxury investors, contributing to its robust growth in the real estate segment.”

Regulatory frameworks like RERA have also improved transparency and investor confidence, further boosting the market. Along with this, rising disposable incomes and growing lifestyle aspirations among homebuyers have added to the demand for high – end properties, making Delhi NCR at the forefront of the Indian real estate landscape a thriving real estate market.

The real estate market will further experience a surge in new supply, with the new government in place in Delhi introducing various plans and reforms. The Master Plan of Delhi (MPD) 2041 will likely show some positive trends. It emphasizes on sustainable urban development, which gives way to better infrastructure and housing, which will open significant opportunities for developers and homebuyers. Moreover, the Union Budget 2025 has allocated funds for infrastructure projects and urban transformation, including the Rs 1 lakh crore Urban Challenge Fund and interest – free loans to states. Such measures, combined with tax reforms and better liquidity are likely to boost housing demand with new projects launched in Delhi NCR.