While Gurgaon Extension or New Gurgaon is a flourishing real estate hub, the stretch between IMT Manesar and Dwarka Expressway has become homebuyers’ cynosure. People looking for independent builder floor units at a relatively lower rate near Gurgaon have shown increased interest in the region, with Sectors 81-83, 85, 86, and 89 being the most sought-after.
Bolstered by a spate of infrastructural developments and excellent connectivity, New Gurgaon has witnessed a realty boom, particularly post-COVID-19. The trend has is backed by the substantial availability of independent builder floor units in the region at a relatively lower rate than the neighbouring residential pockets in Gurgaon. According to real estate agents, Waadi Group, Gurgaon, “As people are willing to upgrade to bigger residential units due to work-from-home and learn-from-home trends, buying a home in Gurgaon, where property values have grown many folds, had been challenging. Resultant, buyer interest shifted to neighbouring locations that provide modern amenities and comparatively reasonable property options. Gurgaon Extension has benefitted from the shift as it offers numerous realty options by reputed developers at nearly 20 percent lower rate than Gurgaon.”
“Most homebuyers in New Gurgaon prefer housing units measuring 1,000-1,400 per sq ft configured as 3 BHK, 3 BHK + study and 3 BHK + study and servant rooms. Bigger units, such as 4 BHK are also in demand; however, the share of enquiries is 20 percent as compared to approximately 40 percent enquiries for 3 BHK units. The remaining stake is of other residential configurations and housing plots”
While capital values of builder floor units in these sectors hover at Rs 6,500-7,500 per sq ft, high-rise apartments are pegged at Rs 5,000-6,000 per sq ft, depending on the amenities offered. Plots rates in Sector 83 hovers at Rs 1 lakh per sq yard; however, those located off the main road are priced relatively lower at Rs 90,000 per sq yard.
A few reputed developers in the sectors include DLF India, Signature Group, Vatika Group, Ansal Housing and Microtek Infra. With respect to commercial options, Manesar, a famous industrial hub, is about six km away.
A cluster of sectors near Kundli-Manesar-Palwal (KMP) Expressway and NH-8, Sectors 81-83, have been witnessing maximum demand in New Gurgaon due to their strategic positioning. According to Anil Jyani Bishnoi, Swastika Estate, Gurgaon, Sectors 81 and 82 are nearly saturated pockets, with resale units being the most preferred. Sector 83 also houses a few under-construction high-rise towers with apartments; however, the independent builder floors remain the most preferred inventory type here. Residential apartments have also fared well, but people’s inclination towards thinly populated set-ups has boosted the popularity of builder floor units in the region. The abundance of greenery, secured ecosystem and the expeditious development on Dwarka Expressway, which adjoins Sector 83, has also boosted the housing traction in the areas. The Gurugram Metropolitan Development Authority (GMDA) has also proposed a metro station at Dwarka Expressway at Sector 100, about 15 minutes away. Touted as a growth catalyst, it will fillip the realty landscape in pockets nearby.”
The values of residential units in Sector 89, New Gurgaon, have increased by nearly 10 percent from Apr-Jun 2020 to 6,100 per sq ft Jul-Sep 2021. Independent builder floor units have also registered a similar trend and depicted around 12-15 percent growth in the above-mentioned period, shares Jyani.
Undeniably, residential demand across Gurgaon has increased; but, independent builder floors in the peripheral areas have witnessed amplified interest. Improved focus of buyers towards relatively bigger residential units in thinly-populated and well-connected areas has been the fad. The trend would continue as such pockets offer a fresh environment, quietude and larger carpet area at a relatively lower price. Nevertheless, before you take the plunge, it would be advisable to consult a reputed real estate agent in the region and undertake thorough background research of the builder.