NEW DELHI: Gurgaon the millennium city sees an increase of 21% in 1st half of 2018 compared to last year, which has started good days for real estate sector. While the city has seen a drop of 60% in unit launches this year according to realty decoded report by PropTiger.
Sohna Road contributed 37% to new launch units in H1 CY’18, followed by Dwarka expressway which contributed 28% to new launch units. Also these new unit numbers are driven by handful projects. For e.g. Mahira Homes launched around 1,300 units in January 2018 in Sector 68 on Sohna Road. This was the only launch on Sohna Road and was under Rs. 50 lakhs budget segment.
The second highest contributor in Launches, Dwarka Expressway reported a launch of nearly 1,000 units where Godrej Meridien launched around 700 units in May 2018 in Sector 106 of Dwarka Expressway.
Gurgaon saw doubling of sales in 60 Lakhs to 1 Cr budget in H1 CY18 compared to H1 CY17 which reflects latent demand in mid segment housing in Gurgaon. Nearly 1/4th of the total sales of the city in H1 CY18 reported in Sector 67 on Sohna Road and Sector 33 Sohna. Pyramid Infratech Urban 67A and Godrej Nature Plus sold nearly 500 units in H1 CY18 each.
Gurgaon also saw 80% increase in delivery of homes in H1 CY18. ~18000 units were delivered to buyers in H1 CY18 which is projected to increase to 22,000 in H1 CY19.
Unsold inventory in Gurgaon has come down to 31,500 units in H1 CY18 compared to 36,500 in H1 CY17 owing to significant reduction in launches.
Gurugram Metropolitan Development Authority set the deadline of 18 months from June 2018 to complete the remaining patches of Dwarka Expressway. This region of Gurugram has significant potential once road gets completed, and will be major contributor to new launches in future.
“Gurgaon real estate was badly impacted due to non completion of road projects such as Dwarka Expressway, Southern Peripheral Road and Hero Honda Flyover. Even today, Dwarka Expressway is not complete though projects on this road are complete. Launches of affordable housing projects brought some cheer back into the market but 2018 has been disappointing even for affordable housing. Unsold inventory levels in Gurgaon are at reasonable level and there is lot of latent demand which is looking for mid-segment housing.” said Ankur Dhawan, Chief Investment Officer, Proptiger.com while releasing this report.
Pradeep Aggarwal, Chairman, Signature Global says, ‘Gurugram has always been a centre of attraction for property investors as the previous and future developments assure a fruitful investment in every manner. This year, we are intending to deliver our projects Solera, Synera and Andour Heights in Gurugram and we are happy to see a healthy response for our projects.
Kushagr Ansal, President, CREDAI Haryana & Director, Ansal Housing says, The finally operational Gurugram Metropolitan Development Authority (GMDA) is touted to be a game changer for the planning and development of the economic arm of Delhi/NCR. Also the with Dwarka Expressway to be operational soon there is to be a propelling expansion of real estate and infrastructure.