look news india
New Delhi: The market of real estate in India is constantly changing the move, and Gurugram is setting a new record in it. Amid the record hike in the high-end real estate prices of the country, the prices of apartments in some top luxury projects of Gurugram have now gone ahead of the same units of Dubai’s Burj Khalifa. This trend is considered an important event not only within India, but also in the global real estate market.
DLF camellias, Aralias and Magnolias: New sky of prices!
In Gurugram’s major real estate projects such as DLF Camellias, Aralias, and Magnolias 1BHK and 2BHK (1 or 2 bedrooms, halls, kitchens) units have now reached ₹ 75-80 crore. At the same time, bids of up to ₹ 150-190 crore are being made for the big 3bhk apartments. In these projects, the rate of per square foot has reached ₹ 1.8 lakh, which is one of the highest prices in the country.
Burj Khalifa compared to: Gurugram becomes a luxury hub
In contrast, the price of a general 1BHK apartment in Burj Khalifa in Dubai is between ₹ 2.5 crore to ₹ 4.3 crore, while the large 3BHK units are available for ₹ 12-14 crore. Even the premium penthouses of the world’s tallest building (Penthouses) rarely go above ₹ 200 crores. This comparison clearly reflects the unprecedented growth of Gurugram’s property, which is also competing in terms of priced to the most prestigious property of international level.
The reason for the rise in prices: What is the secret of ‘Magic’ of Gurugram?
According to property analysts, there are many reasons behind this surge in Gurugram:
Limited Supply: The number of units available in top projects is limited, causing prices to go up naturally when demand increases.
Increasing demand for ultra-hai-han-net-world individuals-UHNWIS: The increasing number of rich in India and increasing desire for their luxury lifestyle, increasing the demand for these properties.
Increased investment by NRIs: After the epidemic, the NRIs have also increased investment in Indian real estate, especially in cities like Gurugram.
Improved infrastructure: Gurugram’s outstanding infrastructure, including modern roads, metro connectivity and better civil facilities, enhances its appeal.
Corporate Offices: Several national and major offices of multinational companies are located in Gurugram, making a strong corporate hub here.
Newer luxury amenities: These projects attract world class facilities, such as swimming pools, gyms, spas, private cinema halls, and security systems, buyers.
More than 80% increase in 5 years: Gurugram’s real estate mantra
In the last five years, the average property rates in the major areas of Gurugram have increased by more than 80%. In 2020, most high-end projects were priced at around ₹ 7,000 per sq ft. Today, some of those developments are being sold at more than ₹ 1.5 lakh per sq ft. These figures reflect the explosive growth of Gurugram’s real estate market.
Long -time investment: Steady ‘confidence
Industry Insiders hope that the demand for exclusive and low-density housing in Gurugram will remain strong, especially seeing limited inventory in prestigious projects. The city’s luxury real estate is being seen rapidly as a long-term investment by both domestic and foreign buyers.
Changing picture: Gurugram – not just an office hub, a luxury brand
This trend does not appear to be slow. As the number of India’s rich class is increasing and their global reach is increasing, Gurugram is gradually turning itself into a residential brand. It is not just an office hub, not just the suburb of Delhi, but is being established as one of the best luxury addresses in the world, which is equal to reputed assets like Burj Khalifa.
