Gurugram Realty Projects Worth Rs 880 Bn in 2024
ECONOMY & POLICY

Gurugram Realty Projects Worth Rs 880 Bn in 2024

The real estate sector in Gurugram experienced significant growth in 2024, with total investments amounting to Rs 881.44 billion across 124 projects registered with HRERA Gurugram. This marked a substantial increase from Rs 452.26 billion in 2023, nearly doubling the previous year's investments.

Since HRERA's establishment in 2017, projects worth Rs 3 trillion have been registered, with a total of 877 projects recorded by 2024. HRERA's strict enforcement of rules and improved transparency have contributed to an environment conducive to real estate growth, ensuring that buyers are protected and the market remains equitable.

The market has seen a dominance of luxury projects, with 34 such projects in 2024 alone surpassing Rs 10 billion in investments. The rise in investments is attributed to the launch of high-value luxury projects in key micro-markets like Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR), and Dwarka Expressway.

The increase in interest from ultra-high-net-worth individuals (UHNIs) and non-resident Indians (NRIs) has been driven by favourable currency exchange rates and simplified investment processes. The growth in the realty market is also supported by Gurugram’s strategic location in the National Capital Region (NCR) and its advanced infrastructure.

In 2024, at least 34 projects in Gurugram saw investments exceeding Rs 10 billion each. Developers such as M3M have credited the district's growth to its appeal to investors, homebuyers, and businesses alike.

From 2017 to 2024, real estate investments in the city have shown a consistent upward trend: Rs 452.26 billion in 2023, Rs 354.80 billion in 2022, Rs 167.75 billion in 2021, Rs 83.27 billion in 2020, Rs 198.79 billion in 2019, Rs 141.05 billion in 2018, and Rs 640.42 billion in 2017.

Developers have emphasised the need for rapid infrastructure development to complement private housing, calling for the acceleration of projects like roads, metro connectivity, and the Regional Rapid Transit System (RRTS). The quality of private infrastructure needs to align with public amenities to ensure sustained growth in Gurugram.

News source: Hindustan Times

The real estate sector in Gurugram experienced significant growth in 2024, with total investments amounting to Rs 881.44 billion across 124 projects registered with HRERA Gurugram. This marked a substantial increase from Rs 452.26 billion in 2023, nearly doubling the previous year's investments. Since HRERA's establishment in 2017, projects worth Rs 3 trillion have been registered, with a total of 877 projects recorded by 2024. HRERA's strict enforcement of rules and improved transparency have contributed to an environment conducive to real estate growth, ensuring that buyers are protected and the market remains equitable. The market has seen a dominance of luxury projects, with 34 such projects in 2024 alone surpassing Rs 10 billion in investments. The rise in investments is attributed to the launch of high-value luxury projects in key micro-markets like Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR), and Dwarka Expressway. The increase in interest from ultra-high-net-worth individuals (UHNIs) and non-resident Indians (NRIs) has been driven by favourable currency exchange rates and simplified investment processes. The growth in the realty market is also supported by Gurugram’s strategic location in the National Capital Region (NCR) and its advanced infrastructure. In 2024, at least 34 projects in Gurugram saw investments exceeding Rs 10 billion each. Developers such as M3M have credited the district's growth to its appeal to investors, homebuyers, and businesses alike. From 2017 to 2024, real estate investments in the city have shown a consistent upward trend: Rs 452.26 billion in 2023, Rs 354.80 billion in 2022, Rs 167.75 billion in 2021, Rs 83.27 billion in 2020, Rs 198.79 billion in 2019, Rs 141.05 billion in 2018, and Rs 640.42 billion in 2017. Developers have emphasised the need for rapid infrastructure development to complement private housing, calling for the acceleration of projects like roads, metro connectivity, and the Regional Rapid Transit System (RRTS). The quality of private infrastructure needs to align with public amenities to ensure sustained growth in Gurugram. News source: Hindustan Times

Next Story
Infrastructure Urban

CRCL, IIT Delhi Sign MoU to Boost Science and Ease of Business

The Central Revenues Control Laboratory (CRCL), Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) toward trade facilitation and improving the ease of doing business. This MoU collaboration aims to foster R&D, innovation, and scientific excellence at CRCL, bolstering trade facilitation and regulatory efficiency.The MoU was signed by Prof. Rangan Banerjee, Director, IIT Delhi, and Shri V. Suresh, Director, CRCL, in presence of Shri Surjit Bhujabal, Speci..

Next Story
Infrastructure Urban

CAQM Sub-Committee Activates 27-Point Plan to Improve NCR Air Quality

The daily average AQI of Delhi has been hovering marginally above 200 threshold with forecast of slight improvement since last two days. Today, Delhi’s daily average Air Quality Index (AQI) clocked 213 (‘Poor’ category), as per the daily AQI Bulletin provided by the Central Pollution Control Board (CPCB), owing to variable winds. In wake of the average/ overall air quality of Delhi recording ‘Poor’ air quality category ranging between 201-300, the CAQM Sub-Committee on GRAP met today to take stock of the current air quality scenario of Delhi-NCR. While comprehensively reviewing the a..

Next Story
Infrastructure Urban

DoT Launches Financial Fraud Risk Indicator to Boost Cybersecurity

In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of “Financial Fraud Risk Indicator (FRI)” with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.What is the “Financial ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?