Even though lending rates are rising, people in the business world think that sales and new product launches in Gurgaon will pick up in Q4 2022.
This year, real estate sales went through the roof during the holidays, and experts say that the rest of Q4 2022 should see a big jump in inquiries and sales. In fact, according to a report that was just released, new launches and home sales in the first nine months of 2022 (January–September) have already topped the numbers for the whole year of 2019. During the first nine months of 2022, about 2.73 lakh units were sold, and 2.65 lakh units were launched.
What can we expect as the year comes to a close?
Cherag Ramakrishnan, the MD of a real estate company, says, "The residential market has seen an overwhelming response from homebuyers during the festive season. This shows that the desire to own a home has stayed strong, even though home loan rates have gone up." So, developers are sure that this trend will keep going." Experts in the business world also say that people who didn't close a deal during the holidays shouldn't worry because there are still a lot of good projects on the market.
According to a reports, there are more than 1.21 lakh ready units for sale in the top seven cities. Niranjan Hiranandani, the national vice-chairperson of NAREDCO, says, "The current real estate market is still good for people who want to buy a home. Because rates are still going up, we can expect a positive growth curve with a short dip. In the last few quarters, the real estate market has grown by leaps and bounds, with sales and property registrations reaching all-time highs. This is because both end users and investors are buying more real estate. So, now is a good time for smart buyers to close the deal, since property prices have already started to go up. The effect of the rate hikes Recent increases in the repo rate by the RBI will have a big effect on the EMIs that people pay on their home loans. But even with this increase, the number of sales shows that people want to buy homes as investments.
"Yes, homebuyers are worried about skyrocketing property prices, but we think this may push many homebuyers who are still on the fence to take the plunge into homeownership," says Jitesh Lalwani, president of Homesync Real Estate Advisory. "In a time of political unrest and rising prices, the RBI decided to raise the repo rate to protect and keep up the GDP growth of the country. It was okay with both the people who were buying homes and the people who were investing. But now, any more increases will hurt, because rising interest rates cause prices to go up, which makes it harder for homebuyers to get their payments. So, the industry wants both fiscal measures and monetary tightening to fight the current global inflation and protect homebuyers' interests, says Hiranandani.
Gurgaon Delhi NCR Real Estate Market
The value of the real estate in the Delhi-NCR area has skyrocketed over the past ten years, and it remains a popular place to invest in real estate. But because costs have gone through the roof, Millennium City saw a small drop in the last quarter compared to the previous quarter. The logistical advantage is that the market can grow quickly because it is so well connected to the necessary infrastructure. Also, investors' renewed interest in the real estate market is good for the local market in the long run because it means steady growth. The real estate market in Gurgaon grew by 21% in the first half of 2022 compared to the same time period in 2021. According to reports, however, the number of new units has dropped by 60%. But the growth of the real estate sector is good news for the market in Millennium City in the near future. It also shows that the market is steadily settling down with more transparency and accountability after RERA and GST. Reports and studies show that buyers' feelings have clearly gotten better.
Sohna Road, one of the most popular real estate areas in Gurgaon, had 37% of the new launches, while the Dwarka Expressway had a whopping 28%. Golf Course Extension Road is one of the attraction points of Gurgaon. Here are some luxurious projects In Gurgaon and Delhi-NCR:
- Elan The Presidential: Elan The Presidential is a new project on the Dwarka Expressway in Sector 106 of Gurgaon. The location of this project is one of the best in all of Gurgaon. The project is on 40 acres of land and has 3/4/5 BHK Premium apartments. People who live in these apartments have lots of room to move around, large living and dining areas, and more.
- Experion Windchants: At Experion Windchants, you can live in luxury on more than 23 acres each day. A high-end condo building from Experion that has won awards all over the world. You can choose from a variety of beautiful Villas, Penthouses, Duplex Villaments, and Apartments and become one of the 500 or more families who already live there. You can work on your hobbies in the more than 250,000 square feet of activity spaces, or you can simply enjoy the beautiful way the landscape is set up.
- Trump Tower Gurgaon: Tribeca Creators LLP is building Trump Tower, which is a residential project in Gurgaon. This nice high-rise is in Sector 65, Gurgaon, and has large, high-end 3 BHK and 4 BHK apartments. When you walk into Tribeca Trump Tower, the signature glass facade will draw you in. The Trump Towers Delhi NCR is a well-known address that is spread out over acres of the golf course and greens in the middle of a cosmopolitan neighborhood. At the Trump Towers Gurgaon, the living room has a double-height ceiling and a large window that looks out over the whole city. The Trump Club is a personal utopia right in your own backyard, with lots of places to have fun, get in shape, and relax.
- Risland Sky Mansion: The new landmark of the city has finally arrived. 100 meter height redefines Delhi's skyline. Risland Sky Mansion will be a unique landmark that stands for India's wealthy class. You'll live a high life that most people can't afford, with beautiful views of the city. In Delhi's newest and best places, you will have fun. The places in South Delhi that are the tallest and have the best views. Take a slow sip of tea, listen to the soft wind blowing through the calm sky, and look out at the wide, green horizon. Don't let the fact that you live close to other low-rise buildings bother you. Just enjoy living in big, quiet, clean homes. You'll live near some of the most beautiful homes and farms. Live where everything is happening. Check out Sky Mansion's high-end 3 BHK and 4 BHK apartments.
- DLF Sector 63: The upscale apartments in DLF Sector 63 Gurgaon. There are 3, 4, and 5 bedroom luxury apartments for rent from DLF Group. A home where everything is easy to get to and the carpeted area makes it easier to have fun. All of the apartments have balconies that lead outside and have views of green areas. The high-end apartments in DLF Gurugram Sector 63 are like living in a different world. A signature style is the beautiful building with a striking glass front and smooth lines. The most important thing about the flats is how they are set up. Each room has big windows that go from the floor to the ceiling and give a beautiful view of the city.
- Paras Quartier: Paras Quartier is a high-end address on the skyline of Gurugram. It has ultra-luxury apartments that are 4 BHK and have a private lift lobby for each apartment. The project has been carefully made to meet the needs of its picky residents, which are always changing. On the Gurgaon Skyline, Paras Quartier is the only place to live. It's the latest high-end project from the well-known Paras Buildtech. Iconic Tower and two grand condo towers stand out on this high-end property. The Club Quartier has a unique modern design and is surrounded by lots of greenery. Residents of Paras Quartier can do anything they want inside the clubhouse.
- Tulip Monsella: The project by Tulip Monsella is a high-quality one. It is in Sector 53, Golf Course Road, Gurgaon. It has 3, 4, and 5 bhk premium apartments with world-class features like tower lobbies with access control, digital door locks at the main gate, double-height tower lobbies, and high-speed elevators that open in your home. At Tulip Monsella, the clubhouse is on the same floor as the lobby. The Clubhouse has a Mini Theater, a Cards Lounge, a Snooker Lounge, a Banquet Hall, a Cigar Lounge, a Swimming Pool, a Kiddie Pool, a Gaming Lounge, and a Gym.
- Tarc Tripundra: Tarc Tripundra is a project that is building high-end homes. It will have high-end apartments in New Delhi with 3 and 4 BHK. The luxury and greenery of nearby Rajkori Gardens and Pusphanjli Farms go well with the project. There are large, well-kept green spaces for just 190 families to live in a way that really feeds the heart and soul. A community with gates that uses technology and mobile apps to keep track of who comes and goes. People won't be able to get in or out without permission because of automatic boom barriers. The apartment's front door has a Smart Lock and a Video Phone. The door that guests use to get in is locked and checked. You don't have to carry a key.
- DLF One Midtown: A luxury housing project called DLF One Midtown is still being built. It will have ultra-modern, luxurious homes surrounded by 100 acres of lush greenery. In the middle of the concrete jungle, the 128 acres of green space at DLF Midtown are like a breath of fresh air. One Midtown is a great new place for wealthy people to live. The Capital Greens project is a group of multi-story homes on about 31.15 acres of land. The high-rise apartments at One Midtown are the first in the Capital to have a great view of a lush green development and a wide view of the city skyline. The project has been well thought out and planned to make the most of the space.
- DLF Magnolias: Your little piece of heaven on earth is DLF Magnolias. The Magnolias project, which looks out over the beautiful Golf Club, is a dream come true for customers who want only the best. At Magnolia's, the bedrooms are large, and the full-height windows make sure that the room gets a lot of light during the day. When designing these rooms, comfort and classic beauty was important. The luxurious flooring adds to the look of these rooms. All of the bathrooms are stylish and well-designed. This space is sleek, has slim lines, and is very stylish. It will wake up your senses. Here, you can also look at the DLF Residential Projects.
- DLF The Camellias: DLF The Camellias is a luxury residential project with smartly designed homes. The Camellias by DLF offers ultra-luxurious apartments and penthouses. The Camellias architecture was designed by Hafeez Contractor. DLF The Camellias premium residences are surrounded by lush greenery and a healthy environment. These super-luxurious homes have amenities that can't be found anywhere else, as well as beautiful views and truly personalized service. The DLF Camellias clubhouse will have creative, social, health and wellness, and entertainment facilities to meet all of the needs of the residents.
- Pioneer Araya: Pioneer Araya is made for the modern connoisseur, and it offers its residents and their guests a lifestyle that can't be found anywhere else. It rises to do what many people have never been able to do: reach perfection. Pioneer Araya is in Gurugram, Delhi NCR. It is easy to get to and gives you peace of mind. As you take in every lovingly made detail, your breath is taken away by the bursts of light coming from every corner. When you walk into your home, you can feel how the different rooms work together.
Future of the Gurgaon Real Estate Market
The real estate market is on the heel as a result of altering market patterns, where the residential sector has once again captured the attention of real estate investors and is expected to expand in the coming financial year of 2023. The market is in a period of recovery, and shifting trends imply that the residential sector is in demand. It is projected that strong and favorable momentums will continue to dominate the Indian real estate market in the financial year 2023, supported by a robust structural foundation, growing demand, and decreased home loan rates. Without a doubt, financial year 23 will be the year the industry has been awaiting. A positive economic forecast will also help the market's improvement. The majority of rating agencies see India's growth for the following year to be between 8 and 9 percent. The increase in housing demand will arise from the expansion of business operations, the strengthening of the labor market, and rising income levels.
The developer community has also helped boost the market by making a variety of tempting offers to potential buyers. Interestingly, property prices will rise quickly in both tier 2 and tier 3 markets as well. The real estate market in India's smaller cities and towns will be helped by improvements to infrastructure, better job prospects, and better connections between places. Already, metro and suburban transit systems are being built in places like Lucknow, Kanpur, Agra, Patna, and Cochin, which will increase demand for real estate. As part of the Ude Desh ka Aam Naagrik (UDAN) scheme, new airports are being built, which will help the real estate industry and boost regional economic growth.
You can always book 2BHK, 3BHK, 4BHK, 5BHK, penthouses, villas, and duplex apartments in Gurgaon and Delhi NCR with White Collar Realty. We are here to find the best apartments and villas in Gurgaon. Our goal is to help you reach yours. You can reach our sales team at 8920929372 or email us at [email protected]. White Collar Realty is the top real estate company in Gurgaon and Delhi NCR. Come before the time is up.