Home Prices in Gurugram records 76% rise in just 2 years!

In the middle of advancing to the residential demand in the city, the average prices in Gurugram have been rising to a massive amount of prices like 76 percent in just in two years and 15.5 percent in quarter to quarter to extend to Rs 14,650 per square foot between the months of July and September in this year as per the report given by Magicbricks’s latest PropIndex Report.

The report additionally noted that the cost of that has increased tremendously in spite of demand in residential has increasing an adequate amount of 9.9% quarter while supply has rise by 18.3% in the same period of time with an inflow of new checklist move by an expansion in the market activity having new launches.

The entire finishing of the major infrastructure projects especially in Dwarka Expressway keeping up to improve Gurugram’s appeal uplifting the demand in newer sectors with good connectivity to Delhi. Increasing in costs in major areas continue to be expensive and the appearing of the new sectors are grabbing attention by offering relatively more cheaper options while maintaining close connection with the key business hubs. This entire statement is release by MagicBricks.

Continuing the demand the prices of ready-made property or apartments have continue to rise up to 12.9 percent on quarter to reach Rs 13,729 per square foot while prices of those which  are under construction have uplifted to 17.3 percent on quarter to reach Rs 16,180 per square foot.

Basing on the researches done by the home –buyers, the report stated that 3BHK Units usually dominates with 66% of demand. Average costs of 3BHK apartments have rise up to 21.6% on quarter to reach 14500psf.

Further there is still command for the builders for an average rate of Rs. 12,700 per square floor, multistory apartments which stand for at Rs. 13,200 psf, residential houses at Rs. 16,100 psf and luxurious villas at Rs 25,600 psf.