Dwarka Expressway Leads as Gurugram’s Most Demanded Real Estate Hub

Gurugram,  january 08, 2024 : The latest Magicbricks Report for Gurugram, covering the period from July to September 2023, has uncovered noteworthy trends in the city’s real estate landscape. The report delves into the resilient trends exhibited by the sector inQ2FY23-24, and provides a comprehensive overview of the residential sector in Gurugram.

As per the Q2 FY23-24 report published by Magicbricks, Gurugram exhibited the highest concentration of demand due to its strategic placement from the arterial roads and employment hubs. This micro-market offers a plethora of interesting housing options. With robust commercial and retail infrastructure coupled with better social amenities, the Dwarka Expressway has come to be the most sought after destination for prospective homebuyers.  Due to developing employment opportunities and variety of housing options across budget segments, the Dwarka Expressway residential property price witnessed a 25% QoQ increase and a remarkable 50% increase YoY basis from the previous year.

Micro-Market Preferences and Size-wise Trends

Dwarka Expressway’s remarkable jump from the 6th position to the 2nd position in Q2 2023 highlights the shifting preferences of homebuyers, who are looking to take advantage of the splendid mid housing options available across this micro-market. Thus, Dwarka Expressway remains the top micro-market, supported by robust commercial and retail infrastructure and superior social amenities. In terms of property configurations, mid housing saw the highest jump in demand, with 3 BHK units emerging as the most preferred. It is no surprise then that mid housing with the highest demand and supply were observed in the INR 5,000-10,000 per square feet range.

Sharing his insights on the Q2 FY 23-24 Magic Bricks PropIndex, Mr. Ravi Aggarwal, Co-Founder & Managing Director of Signature Global (India) Ltd., emphasised, “Gurugram’s inclination towards aspirational living is a testament to the evolving preferences of homebuyers. The city’s commitment to infrastructure development, particularly the Dwarka Expressway, Southern Peripheral Road, Sohna Elevated Road enhancement, and DMIC, has brought significant transformation and positivity to the entire real estate market in the adjoining vicinity. The preference for larger units with modern amenities is a distinctive characteristic of the Gurugram market.