Since HRERA's establishment in 2017, projects worth Rs 3 trillion have been registered, with a total of 877 projects recorded by 2024. HRERA's strict enforcement of rules and improved transparency have contributed to an environment conducive to real estate growth, ensuring that buyers are protected and the market remains equitable.

The market has seen a dominance of luxury projects, with 34 such projects in 2024 alone surpassing Rs 10 billion in investments. The rise in investments is attributed to the launch of high-value luxury projects in key micro-markets like Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR), and Dwarka Expressway.

The increase in interest from ultra-high-net-worth individuals (UHNIs) and non-resident Indians (NRIs) has been driven by favourable currency exchange rates and simplified investment processes. The growth in the realty market is also supported by Gurugram’s strategic location in the National Capital Region (NCR) and its advanced infrastructure.

In 2024, at least 34 projects in Gurugram saw investments exceeding Rs 10 billion each. Developers such as M3M have credited the district's growth to its appeal to investors, homebuyers, and businesses alike.

From 2017 to 2024, real estate investments in the city have shown a consistent upward trend: Rs 452.26 billion in 2023, Rs 354.80 billion in 2022, Rs 167.75 billion in 2021, Rs 83.27 billion in 2020, Rs 198.79 billion in 2019, Rs 141.05 billion in 2018, and Rs 640.42 billion in 2017.

Developers have emphasised the need for rapid infrastructure development to complement private housing, calling for the acceleration of projects like roads, metro connectivity, and the Regional Rapid Transit System (RRTS). The quality of private infrastructure needs to align with public amenities to ensure sustained growth in Gurugram.

News source: Hindustan Times