A Comparative Study between South Delhi and Gurgaon in the Real Estate Industry
A popular analogy that often makes the rounds in the Indian real estate industry is the one between South Delhi and Gurgaon. Gurgaon which came into the limelight as an industrial and technological hub 30 years back has witnessed tremendous growth in the residential and commercial real estate sectors in the recent years. It has now turned into a goldmine for property investors and a paradise for those seeking a contemporary home in an urbanized setup.
How can you compare the growth in the real estate sector between the two places?
Statistics from the realty research firm, PropEquity and real estate consultant firm Commercial Real Estate Services, Worldwide focus on the increase in apartment prices across various regions in South Delhi as well as in Gurgaon. Over the last five years, Gurgaon properties have shown a tremendous increase of about 140% – 170%. On the other hand, South Delhi which is considered as one of the most expensive suburbs in the country has experienced growth rates ranging from 60% – 100% based on the area chosen. Golf links, Sunder Nagar and Jor Bagh are among the South Delhi areas with the highest growth rate.
Why is South Delhi often compared to Gurgaon?
The difference in property prices between Gurgaon and Delhi today is stark. Apartments in South Delhi cost almost 5-6 times higher than the ones in Gurgaon. However, with the upcoming infrastructure around the Dwarka Expressway, the price gap is expected to significantly narrow down in the upcoming years. Popular builders like DLF are introducing a series of housing projects with world class luxuries in Gurgaon thus attracting investors from various parts of the country.
Why do people tend to choose Gurgaon over South Delhi?
The quality of living and the infrastructure of Gurgaon make it a far better choice than South Delhi. Experts from the industry as well as many leading realtors consider Gurgaon a better version of South Delhi with luxury homes and gated communities. Additionally, Gurgaon is also much cheaper making it an ideal location for those with budget constraints.
To put it into a nutshell, Gurgaon is quickly treading down the path to match South Delhi in price and popularity. For all those looking at investing in a commercial or residential property in Gurgaon, there seems to be plenty of choices and a sense of safety for the long run.