Gurugram Sees Housing Price Rise Of 160% In Last 5 Years

The housing market has seen remarkable growth over the past five years, with top cities experiencing an overall surge in prices – Shiwang Suraj, founder and director of InfraMantra

Mumbai: Housing prices in top 10 cities have surged 88 per cent in 5 years, says a report by PropEquity adding that Gurugram has seen maximum rise at 160 per cent, Mumbai lowest at 37 per cent during the period.

Gurugram has today risen to become one of the costliest real estate markets in India.

Talking to Bizz Buzz, Sanju Bhadana, MD, 4S Developers says, “The city has been setting benchmarks in luxury and super luxury homes and is among the few cities that have seen price of homes double in the last 5 years.”

Post-pandemic, the Gurugram market has seen price escalation in all its micro-markets as demand swelled from not just local inhabitants but also wealthy individuals from other parts of India and world. The coming years are expected to see a similar trend.

Shiwang Suraj, founder and director of Gurugram-based property consulting firm InfraMantra says, “The housing market has seen remarkable growth over the past five years, with top cities experiencing an overall surge in prices.”

The rising home buying trend reflects the strong demand from both investors and homebuyers, highlighting the attractiveness of these urban centres.

While there are discussions about the investor-driven nature of the market, this growth also signals confidence in the real estate sector's potential. As these cities evolve, there’s an opportunity for innovative solutions to ensure accessibility for homebuyers, fostering a vibrant and diverse housing landscape.

Srinivasan Gopalan, CEO, Arisinfra Solutions says, “In Q3, the real estate market faced challenges due to delayed project launches, the monsoon season, and the Shraad period, leading to a supply-demand imbalance.”

Despite this, strong demand from end users has driven a noticeable increase in sales from serious buyers. This upward momentum is anticipated to persist as the real estate sector continues to grow, fuelled by rising corporate activity and an increasing need for quality housing.