New Gurgaon is rapidly rising as an exciting residential and commercial center in the National Capital Region. The growth can be attributed to rising affordable property, good connectivity and incredible expansion in infrastructure. According to Economic Times India, New Gurgaon encompasses the areas outside the second toll plaza on NH-8, which are located on the highway on either side of it or accessible through it via internal sector roads.
According to Rohan Sharm, associate director, Research & Real Estate Intelligence Service, JLL India, "This real estate micro-market is one of the two identified growth corridors for residential projects in Gurgaon; the other being Dwarka Expressway, which can also be considered an extension of the New Gurgaon region, albeit with different drivers for growth."
This micro-market also includes the immediate sectors after the Kherki Daula toll plaza and right through sectors being developed all the way till Manesar on both sides of the highway.
"As of date a total of over 51,000 residential apartment units have been launched here across more than 95 projects," Sharma added.
Furthermore, according to JLL India, New Gurgaon continues to go on as one of the relatively less expensive residential micro-markets within Gurgaon which is why it is seeing healthy sales volume year after year. 3,600 residential units are alreay completed and handed over to buyers and roughly 39,000 residential apartments are projected to be turned over throughout the next 3-year period
"...Upcoming infrastructural projects such as the DMIC, KMP Expressway, enhanced connectivity through the Dwarka Expressway and internal arterial roads and development of multiple centres of excellence as planed under the DMIC are likely to further provide an impetus to growth around this area. Economic activity will fuel future growth, with existing automobile/ancillary industries in Manesar already doing well," explains Sharma.
Furthermore, there are already large township projects in New Gurgaon such as DLF, Vatika, Orris, Lotus Greens, Supertech and Ramprastha, among others, according to Economic Times India.
