Gurugram Metro to Drive Growth in the Millennium City

Gurugram, Dec 27 (NationPress) In a significant update, Haryana's Chief Minister Nayab Singh Saini has stated that the construction of the Metro expansion from Millennium City Centre to Cyber City will kick off on May 1, 2025, which is set to significantly enhance development in Gurugram.

The Gurugram Metro Rail initiative will be undertaken at an expenditure of approximately Rs 5,452.72 crore. Spanning 28.5 km, this project aims to link Old Gurugram with New Gurugram, thereby facilitating better connectivity to central business areas, alleviating traffic congestion, and offering a smoother commute for residents in the older sectors.

The construction of this new metro corridor is anticipated to influence projects located along the Dwarka Expressway, given the relatively high residential and commercial developments in that region.

Post-COVID, the Dwarka Expressway has experienced the highest influx of housing units in the Millennium City, followed by New Gurugram and Sohna, according to a report from property consultant Square Yards. Since 2020, the annual new residential supply in Dwarka Expressway has exceeded 10,000 units, compared to 5,000-7,000 units launched annually before the pandemic.

The Dwarka Expressway has also become a prime location for leading developers to launch new units post-2020.

“The pipeline for developers remains robust, with over 25,000 units expected for delivery in the next three years along the Dwarka Expressway, showcasing the strong growth trajectory of the area. This confidence in supply is further supported by the entry of several prominent developers,” the report noted.

Regarding property price appreciation, the Dwarka Expressway has recorded a remarkable increase of 29 percent in 2024 compared to the previous year. Current average prices are between Rs 12,000 and Rs 14,000 per square foot, with many new projects from notable developers surpassing this range.

“The expansion of the metro network in Gurugram is poised to transform the real estate landscape of the region. As Gurugram establishes itself as the nucleus of growth in Delhi-NCR, the newly sanctioned metro extension from Millennium City Centre to Cyber City, with a spur to the Dwarka Expressway, is expected to elevate the housing market to unprecedented levels,” stated Akash Khurana, President and CEO of Krisumi Corporation.

The market primarily consists of 3BHK units, which represent 54 percent of the supply, followed by 2BHK units at 23 percent.

Pradeep Aggarwal, Founder & Chairman of Signature Global (India) Ltd, remarked, “Location is fundamental for buyers and investors in the housing market. The Dwarka Expressway has emerged as a real estate hotspot due to its excellent connectivity across Delhi NCR and Gurugram, along with vast growth potential.”

“The Gurugram metro expansion is a transformative factor in the city’s real estate scenario. Improved connectivity will significantly heighten demand for both residential and commercial properties along the metro corridor. We foresee heightened investor confidence and increased property values, especially along the Dwarka Expressway, SPR, and the New Gurugram area,” mentioned Harinder Dhillon, Senior Vice President of Sales at BPTP.

“After years of anticipation, the long-awaited Gurugram section of the Dwarka Expressway was inaugurated earlier this year, and with the Delhi section nearing completion, the area is experiencing a remarkable uptick in residential activity. Reflecting this trend, the micro market has recorded the highest cumulative new supply post-2020 in Gurugram, with leading developers launching projects to meet the rising demand,” stated Rajat Likhyani, Principal Partner at Square Yards.