Gurugram housing sales surge by 13% in 2023: Anarock

Housing sales in Gurugram escalated by 13 per cent year-on-year in 2023, reaching 36,970 units, up from 32,615 units in the preceding year, according to recent data from real estate consultancy Anarock. This growth was notably driven by heightened demand for luxury flats. In contrast, neighbouring regions like Noida and Greater Noida witnessed a downturn, with sales dropping by 8 per cent and 7 per cent respectively.

Specifically, Noida's residential property sales declined to 5,840 units from 6,360 units, while Greater Noida experienced a decrease to 10,180 units from 10,985 units. Similarly, Ghaziabad saw an 8 per cent dip, recording 6,340 units as opposed to 6,890 units in the previous year. Meanwhile, housing transactions in Faridabad, Delhi, and Bhiwadi collectively contracted to 6,295 units in 2023 from 6,860 units the year prior.

Overall, the Delhi-NCR region reported a modest 3 per cent uptick in housing sales, registering 65,625 units in 2023 compared to 63,710 units in 2022.

Prashant Thakur, Regional Director and head of Research at Anarock Group attributed the divergent trends to a disparity in new housing project launches across the NCR. Real estate developers like Signature Global, TARC Ltd, and Elan Group highlighted Gurugram's burgeoning sales, underscoring strong consumer sentiment and infrastructural advancements.

Pradeep Aggarwal, Chairman of Signature Global, pinpointed the surge in demand within Gurugram's mid-income and luxury segments, driven by young professionals and nuclear families. He identified areas such as New Gurugram, Dwarka Expressway, and the Southern Peripheral Road as key hotspots witnessing substantial buyer interest and capital appreciation.

Amar Sarin, CEO of TARC Ltd, described Gurugram's real estate landscape, particularly areas like Dwarka Expressway, as experiencing a resurgence despite broader market challenges.

Echoing this sentiment, Ravish Kapoor, Managing Director of Elan Group, emphasised Gurugram's prominence within the NCR, citing robust infrastructure development and specific micro-markets like Dwarka Expressway as catalysts for the region's residential sector growth.

(With PTI inputs)