In the past year, Gurgaon’s residential sector has experienced a surge in capital values, with increases between 30% and 35%. However, developers are currently slowing down project execution, leading to a noticeable decline in the supply of residential apartments across several prime markets. Meanwhile, emerging residential areas continue to struggle to meet the overwhelming housing demand that exists.
The anticipated supply of residential properties, initially announced for early 2009, has faced significant setbacks due to severe construction delays, with approximately 500,000 units—originally scheduled for possession by the end of 2011—now expected to be delayed by yet another year.
Conversely, there has been a notable uptick in lateral hiring by corporates. As the job market improves nationwide, consumers find themselves with increased purchasing power, which contributes to favorable investment opportunities. Consequently, investor sentiment within the affordable and mid-income segments of Gurgaon's residential market has shown a marked improvement.
The potential for office space in Gurgaon remains robust, and prospects seem positive for major global corporations establishing operations in the region in the near future. Altogether, this situation bodes well for the residential property market, suggesting a healthy absorption rate of residential space in the times ahead. Furthermore, the new infrastructure initiatives being executed by the government are expected to play a pivotal role in shaping Gurgaon’s residential and commercial property sectors.