New Gurgaon (sectors 76–95A) comprises of the sectors on either side of the NH8, lying west of the Kherki Daula Toll Plaza. The region located towards western part of Gurgaon started gaining prominence as a residential destination as projects’ delivery started around 2014-15. Since, then the region has been the fastest growing residential cluster of Gurgaon. The micro-market combines affordability with high-end living, offering wide range of options across diverse range of projects. The key driver for the emergence of this location has been its proximity to Manesar, seamless connectivity with key employment hubs of Sohna Road, Cyber City, Sector 30, and Udyog Vihar.
The biggest driver of New Gurgaon has been its value proposition, especially in terms of quality of new age housing options that it presents vis-à-vis the travel time from major employment hubs. In relative terms, the micro-market has been one of the value picks, with bulk of supply falling in the budget segment of INR 7 Mn to INR 15 Mn, thus appealing to a wider segment of the salaried class employed in Gurgaon and Manesar.
Despite being one of the peripheral micro-markets of Gurgaon, the value practicality vis-à-vis other major emerging residential micro-markets is evident when these micro markets are plotted on the 'Capital Value and Residential Rental vs travel time matrix'. New Gurgaon appears to be a value pick as compared to other major emerging residential micromarkets on this matrix.
DEW: Dwarka Expressway | SPR: Southern Peripheral Road | GCRE: Golf Course Extension Road
Exhibit: The two matrices depicts value proposition of New Gurgaon vis-à-vis other competing micro-markets of Gurgaon on a Capital Values & Rentals vs travel time to employment hub. This illustration takes mean distance of the farthest employment hub from New Gurgaon i.e. in and around cyber-city/Udyog Vihar/ NH-8.
Key drivers fueling the New Gurgaon market:
Physical Infrastructure
- Pick up pace of construction of the Northern Peripheral Road will not only provide an additional connectivity to other parts of Gurgaon as well as Delhi, but also impart a changed better outlook to the locality.
- Upcoming connectivity option via the Rapid Rail Transit System (Delhi – Gurugram – SNB – Alwar Corridor), which will pass through New Gurgaon with proposed stations at Kherki Daula. This will provide direct and fast connectivity to commuters travelling to employment hubs such as Udyog Vihar and Aero City.
- Work on connecting the NPR & SPR would further smoothen the connectivity to employment hubs of Sohna Road and Golf Course extension Road.
Social Infrastructure
- The region has witnessed improvement in social infrastructure over the past couple of years with opening of many schools and options for essential shopping.
- In addition, there are numerous mixed-use and retail development that are under different stages of construction and would be completed over the next 2-4 years.
With the value proposition it offers, coupled with planned infrastructure improvements, New Gurgaon is expected to be one of the key markets of the city, especially for end-users.
