As of 2011, Gurgaon is witnessing rapid urbanization and has become a leading financial and industrial hub with the third-highest per capita income in India. The city is expanding rapidly and New Gurgaon has emerged as the 'destination next' of the real estate sector.
There are many factors which contribute to it being a real estate hub. The area enjoys good connectivity through three highways: National Highway 8, Dwarka Expressway (Northern Peripheral Road), and KMP Highway.
"A report by real estate consultancy, Knight Frank India, has identified New Gurgaon as one of the Top 10 residential destinations in India from an investment point of view, up to 2020. It is an emerging real estate destination comprising new areas like Sectors 79, 81, 82, 83-95. The area also has significant forthcoming office supply with several projects planned, and also has the maximum numbers of ready-to move apartment, which enhances its value," Rahul Singla, Director of Mapsko, said.
Ravish Kapoor, Director of Elan Group, says: "New Gurgaon is fast emerging as a residential and commercial hub in the NCR. It enjoys good connectivity with Dwarka-Gurgaon Expressway, KMP Expressway, and NH-8. Forthcoming infra projects, KMP Expressway and Dwarka Expressway for example, will only give a leg up to the growth of this area."
"New Gurgaon is also emerging as a new hub of SMEs and start-ups due to established infrastructure and a surge in occupancy rate of residential projects in the area," Vineet Taing, President of Vatika Business Centre, said.
Vatika Group is mulling to establish Vatika City Centre in New Gurgaon owing to its strategic location on the highway besides the Metro connectivity which is in the pipeline. "We are eager to conclude it, as it will be difficult to get space in Vatika City Centre as soon as the Kherki Dhaula toll moves away," Taing said.
New Gurgaon is increasingly drawing the attention of buyers and developers alike so it is headed for a bright future.