Gurugram Real Estate Market Boom: Record ₹11,816 Cr Single-Project Sale, ₹88,000 Cr Investment Inflow

Gurugram has set a new benchmark in the real estate market, recording the highest single-project sale in the country and outpacing other prime locations, including Lutyens Delhi and Mumbai. The landmark transaction took place in DLF’s ultra-luxury residential project, The Dahlias, which registered total sales worth Rs 11,816 crore. This shift highlights changing investment preferences among Ultra High Net Worth Individuals (UHNIs), who are increasingly opting for high-end gated condominiums over independent bungalows.

The city also witnessed the most expensive real estate transaction in 2024, with a penthouse selling for Rs 190 crore. This transaction exceeded high-value sales in Lutyens Delhi, highlighting the growing prominence of Gurugram’s real estate sector. Additionally, three properties priced at Rs 150 crore or above were sold in the city, reflecting increased interest from corporate leaders, startup founders, and global investors.

One key factor driving this trend is the lack of available properties in Lutyens Delhi. While demand for trophy assets remains strong, the limited supply has pushed buyers towards Gurugram, where large-scale luxury projects offer more options. The Dahlias, located in DLF 5, has particularly benefited from this shift.

DLF reported that within nine weeks, 173 units of the project were sold, covering a total area of 1.85 million square feet. The average price per square foot reached Rs 1,05,000 on carpet area. The company still has 2.7 million square feet available for sale in the project, which could generate over Rs 23,000 crore in additional revenue.

Market research by CRE Matrix indicated that this is the first time a single project has exceeded Rs 100 billion ($1.16 billion) in sales within one quarter. This performance surpasses other leading developers, such as Godrej Properties, which recorded Rs 9,519 crore in sales for Q4FY24, and Prestige Group, which reported Rs 7,092 crore for Q2FY24.

According to Aakash Ohri, joint managing director of DLF Home Developers, Gurugram is now attracting investments from across the country and even globally. The city’s infrastructure, proximity to the airport, presence of Fortune 500 companies, and robust office and hospitality sectors are contributing factors. Additionally, lifestyle amenities and improved quality of life are making Gurugram a preferred destination for luxury homebuyers.

DLF reported a consolidated net profit of Rs 1,058.73 crore for the third quarter of the financial year, reflecting a 61% increase from the previous year’s Rs 655.71 crore. The company’s highest-ever quarterly sales booking of Rs 12,093 crore was driven largely by The Dahlias.

Non-Resident Indians (NRIs) accounted for approximately 12% of The Dahlias’ sales, while nearly 40% of buyers were already living within the DLF Golf Links ecosystem. This indicates strong demand from existing residents looking to upgrade within the same area.

Following the success of The Dahlias, DLF is planning new projects in Mumbai, Goa, and Gurugram. The company sees strong potential in Mumbai, where demand for premium housing remains robust. In Goa, a super-luxury development is expected to cater to a niche market with unique requirements.

Investment Inflow in Gurugram Real Estate

Beyond individual project sales, Gurugram’s real estate sector reached a milestone in 2024, with Rs 88,144 crore invested across 124 projects, the highest annual investment recorded since the establishment of Haryana RERA in 2017. This figure nearly doubles the Rs 45,226 crore invested in 2023, reinforcing the city’s status as a premier real estate destination, according to data shared by Haryana RERA.

The regulatory authority has played a crucial role in reshaping the real estate landscape through measures that ensure transparency, accountability, and timely project delivery. Since its inception, RERA Gurgaon has registered 877 projects, attracting a total investment of nearly Rs 3 lakh crore.

RERA Chairman Arun Kumar pointed out a noticeable shift in the Gurgaon real estate market towards luxury developments. He emphasized the rising investment in this segment, with 34 projects in 2024 alone surpassing Rs 1,000 crore in investment. This marks a significant increase compared to the 27 similar projects recorded between 2017 and 2023, including both new registrations and ongoing developments.

Gurugram’s real estate market has exhibited consistent growth, barring a slowdown during the pandemic years. The city’s robust infrastructure, including improved highways and connectivity, has been a major factor driving this expansion.

Developers attribute this surge to RERA’s regulatory framework, which has bolstered investor confidence and ensured timely project completion. Strict monitoring of quarterly and annual progress reports has created a balanced ecosystem for all stakeholders.

Gurugram's growth as a top real estate destination is driven by infrastructure upgrades, corporate presence, and changing buyer preferences. With new projects and steady demand, the city continues to expand in the  housing market.

Image source- dlfproperties