Gurugram, Nov 29 (IANS): The Dwarka Expressway has emerged as the prominent choice for discerning homebuyers.
The latest Magicbricks report for Gurugram, covering the period from July to September 2023, has uncovered noteworthy trends in the city's real estate landscape.
As per the report, Gurugram exhibited the highest concentration of demand due to its strategic placement from the arterial roads and employment hubs. With a combination of commercial and retail infrastructure coupled with better social amenities, the Dwarka Expressway has come to be the most sought-after destination for prospective homebuyers.
Due to developing employment opportunities and a variety of housing options across budget segments, the Dwarka Expressway residential property price witnessed a 25 per cent increase and a remarkable 50 per cent increase basis from the previous year.
In terms of property configurations, mid-housing saw the highest jump in demand, with 3 BHK units emerging as the most preferred on the Expressway.
It is no surprise then that mid-housing with the highest demand and supply was observed in the Rs 5,000-10,000 per square feet range.
"Gurugram's inclination towards aspirational living is a testament to the evolving preferences of homebuyers. The city's commitment to infrastructure development, particularly the Dwarka Expressway, Southern Peripheral Road, and Sohna Elevated Road enhancement has brought significant transformation and positivity to the entire real estate market in the adjoining vicinity," Ravi Aggarwal, Managing Director, Signature Global (India) said.
"The Dwarka Expressway has emerged as the preeminent choice for discerning homebuyers. Driven by burgeoning employment opportunities and a diverse portfolio of housing options spanning different budget categories, the expressway has experienced a significant 25 per cent quarter-on-quarter escalation in property rates, translating to an impressive 50 per cent year-on-year growth compared to the previous year," said Adil Altaf, director (sales & CRM) of Whiteland Corporation.