Gurgaon Real Estate Prices
Recording the highest price appreciation of about 33.59%, Gurgaon on the outskirts of Delhi has left other cities way behind and emerged as the top real estate market among all the hubs adjacent to major cities and offered the highest returns to real estate investors in the preceding fiscal. Second position has been taken by Rajarhat in Kolkata 24.93% while Whitefield in Bangalore clocked a rise of 14.68%, Navi Mumbai (Mumbai) 7.24% and Gachibowli (Hyderabad) 5.14%. In terms of growth in absorption of units and new launches Whitefield appeared ahead of Gurgaon, recording 103.51% growth in 2012-13, at 3,470 units and the growth in new launches in Gurgaon recorded 2.46% (22,075 units, PropEqity, a research firm, said in its recent finding. Gachibowli in Hyderabad appeared ahead of Gurgaon, in terms of growth in new launches and absorption in Gachibowli also increased 70.6% to 766 units.

Likewise, in Navi Mumbai, new launches and absorption dipped 6.72% to 16,534 units and 17.36% to 13,366 units, respectively during the period. All these destinations came as a boon for developers and for those who wanted to own a home within their financial capabilities and near big cities or metros. In the past five years, realty prices in Dwarka Expressway, Gurgaon, have risen 206% to Rs 7,121 a sq ft (as on March-end) from Rs 2,329 at the end of March 2009. In New Gurgaon, prices have increased 180% in five years to Rs 7,068 a sq ft, against Rs 2,528 five years ago. The property prices in south Delhi are three-six times more than those in Gurgaon, depending on the location, the gap was expected to narrow to two-three times in five years, said Sanjay Sharma, managing director, Qubrex, a real estate research and brokerage company. After way back in 1997 Kolkata's fringes saw the development of New Town, earlier known as Rajarhat. New Town, an IT and residential hub, is on the north-eastern side of Kolkata has emerged as the hot property destination in the area.