Gurgaon’s property market is experiencing a massive surge. Over the past two years, average property prices have climbed by 76%, reaching ₹14,650 per sq ft in Q2 FY25. Despite only a 9.9% rise in demand and an 18.3% increase in supply, prices continue to skyrocket, driven by new project launches and growing interest in premium developments.
Under-construction luxury homes lead this trend. Many have seen a price hike of up to 55% year-on-year. Hotspots like New Gurugram and the Dwarka Expressway have recorded 45% and 21% growth in under-construction property prices, respectively.
Three main factors fuel this growth:
- NRI and Investor Activity: Non-Resident Indians and domestic investors are aggressively buying into Gurgaon’s high-end projects, tightening competition.
- Supply Constraints: Gurgaon experienced a development slump between 2014 and 2021. That lag created a significant supply gap, boosting demand.
- Infrastructure Growth: Projects like the Dwarka Expressway have improved connectivity and sparked renewed interest in surrounding areas.
Even with soaring prices, buyers remain active. A viral Reddit post recently highlighted a buyer’s struggle to find a 3BHK apartment in Gurugram’s suburbs, despite a healthy ₹1.8 crore budget—illustrating just how tight the market has become.
Chartered Accountant Nitin Kaushik emphasizes that Gurgaon’s current price surge reflects both scarcity and strategic investment. He notes that unlike Mumbai and Bengaluru—where new launches regularly enter the market—Gurgaon’s low inventory is driving its transformation into a luxury real estate destination.
As developers slowly re-enter the mid-income segment, more buyers may find value. Still, with premium property demand surging, Gurgaon stands out as India’s fastest-appreciating metro real estate market.
Source: Economic Times