Gurugram sees up to 45% price rise for premium homes in last one year

New Delhi: Prices of premium homes -- under construction and ready -- have increased up to 45 per cent in Gurugram in the last one year, according to Savills India.

Real estate consultant Savills on Saturday released a report showing that prices of completed housing units have risen by 28-45 per cent in Gurugram during the last one year.

Rates of under construction homes were up 12-45 per cent.

In Noida, the prices rose by 27-36 per cent for completed units and 23-47 per cent for under construction residential properties.

In Gurugram, the Savills report showed that New Gurugram and Dwarka Expressway were the top performing micromarkets with an annual growth of 45 per cent and 21 per cent, respectively in average capital values of under construction properties.

Golf Course Road and Golf Course Extension Road & Souther Peripheral Road registered the highest average capital value appreciation for ready-to-move properties with a year-on-year increase of 45 per cent and 39 per cent, respectively.

With 47 per cent year-on-year growth, Noida-Sector 150 micromarket witnessed the highest growth in capital value for under-construction properties.

Arvind Nandan, Managing Director, Research & Consulting, Savills India said, "As we step into 2024, the outlook for the premium to luxury residential segment in key urban hubs like NCR and Mumbai remains exceptionally promising." Pradeep Aggarwal, Founder & Chairman, Signature Global, said, Gurugram, due to its rapid infrastructure development, has emerged as the preferred destination for end-users and investors.

"Notably, areas like New Gurugram, and specific sectors on Dwarka Expressway... have experienced significant interest from buyers, leading to substantial capital value appreciation in double digits," he said.

Mohit Jain, Managing Director, Krisumi Corporation, said, Gurugram has been one of the brightest markets in terms of both sales and capital appreciation perspective.

"Rapid infrastructure development like Central Peripheral Road, Dwarka Expressway have played a huge part in it," Jain said.