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Hans India
03-07-2025
- Business
- Hans India
Sale of ultra-luxury homes worth Rs 50 crore surges 2,550 pc in Delhi-NCR
New Delhi: In a distinctive display of rising affluence as economy remains resilient, the sale of ultra-luxury homes worth Rs 50 crore and above in Delhi-NCR saw a massive 2,550 per cent (year-on-year) growth in the first half of 2025 (January-June period), while the Rs 20-50 crore bracket surged by 1,233 per cent, according to a report on Thursday. NCR's residential market is seeing a dramatic shift and premium and luxury housing now dominates. In H1 2025, homes over Rs 2 crore made up 57 per cent of total sales, up from 43 per cent in H1 2024, according to the report by Knight Frank India. Ultra-luxury projects in prime Gurugram locations like Golf Course Road and Southern Peripheral Road, with some units exceeding Rs 50 crore, are exceptionally well-received, often selling 60-70 per cent immediately post-launch. 'The residential market's pivot towards premiumisation tells a fascinating story of changing aspirations. What we are seeing is a significant market evolution. Buyers are increasingly prioritising quality, lifestyle, and exclusivity over speculation, which creates a more sustainable foundation for long-term growth across NCR's premium corridors,' said Mudassir Zaidi, Executive Director–North, Knight Frank India. Gurugram has maintained its leadership position in residential sales, accounting for 51 per cent of total sales and 55 per cent of new launches in H1 2025. The city's continued dominance is supported by ongoing infrastructure upgrades along key corridors such as Dwarka Expressway, Sohna Road, and Southern Peripheral Road, which have notably enhanced overall connectivity and liveability. Meanwhile, Noida and Greater Noida together contributed 30 per cent of NCR's total residential sales and 29 per cent of new launches, with Greater Noida taking the larger share due to greater land availability and infrastructure catalysts such as the upcoming Noida International Airport at Jewar. The premiumisation trend is clearly reflected in pricing, with residential prices rising by 14 per cent on-year in H1 2025, reaching an average of Rs 5,535 per square feet. Key micro-markets such as South Delhi, Golf Course Road, Golf Course Extension Road, Sohna Road, and Southern Peripheral Road in Gurugram recorded the sharpest price gains due to strategic connectivity and premium positioning, the report mentioned. 'Underpinning both markets' performance is NCR's accelerated infrastructure development. Major projects such as the Delhi-Mumbai Expressway, Regional Rapid Transit System, Dwarka Expressway, and metro network expansions have significantly improved connectivity, driving interest toward emerging corridors and peripheral locations,' it noted. The Noida International Airport in Jewar and planned Gurgaon Metro expansion are expected to unlock future demand, reinforcing long-term growth prospects across newly developing micro-markets.
Time of India
27-06-2025
- Business
- Time of India
RRTS deadlock holds up new metro line's Cyber City station in Gurgaon
Gurgaon: Uncertainty over the exact location of the proposed rapid rail (RRTS) station at Cyber City has derailed integrated planning for the Gurgaon Metro project. The Gurgaon Metro station at Cyber City is to be integrated with RRTS and the existing Rapid Metro network. NCR Transport Corporation, which is building rapid rail, initially planned to construct the RRTS station on the green belt along the expressway near Shankar Chowk. But the industrial authority has shown reluctance in handing over the land, citing concerns over congestion, sources said. Th Gurgaon Metro station at Cyber City will be constructed under Phase 2 of the project. GMRL invited bids for geotechnical investigation on the 16km section of Phase 2 between Sector 9 and Cyber City last month. But with the RRTS stations caught in a bind, the location of Gurgaon Metro's station at Cyber City has not been decided. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon A senior GMRL official told TOI, "Since NCRTC has not frozen its station location, we are unable to finalise ours for Cyber City either. This is a key interchange. Planning for integration between the three systems — RRTS, Gurgaon Metro and Rapid Metro — is affected." NCRTC told TOI on Friday the location of the station at Shankar Chowk is "currently being discussed" in consultation with all key stakeholders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Outdoor Clothing | Designed to Perform. Built to Endure. Trek Kit India Shop Now Undo "We are confident that a common ground will be reached soon through mutual understanding," the NCRTC CPRO said. In Feb, senior officials from NCRTC, GMRL and HSIIDC visited Shankar Chowk to explore options for creating an integrated transport hub. The idea was to allow seamless passenger transfers between RRTS, the new metro corridor from Millennium City Centre to Cyber City and the existing Rapid Metro. Originally approved by Haryana govt in 2019, the alignment of the RRTS corridor, which followed the Old Delhi-Gurgaon Road, was revised in Aug 2023 to run along NH8. This realignment prompted GMRL to shift its metro route from the initial Rao Gajraj Singh Marg to an alternate alignment via Old Delhi-Gurgaon Road and Shankar Chowk Road. The move would reduce land acquisition hurdles, avoid defence land and boost ridership. However, the revised alignment hinges on the finalisation of the RRTS station location at Shankar Chowk. NCRTC requested land from HSIIDC for an underground station, but officials raised concerns about the impact on already heavy traffic volumes in the area, which caters to commuters from Udyog Vihar, Manesar and the Golf Course Road. Some of the greenbelt near Shankar Chowk was handed over to NHAI during the widening of the surface road. The new alignment includes 22 stations, passing through Cyber City, IFFCO Chowk and Signature Towers. However, the revised detailed project report is still awaiting approval from the Union cabinet. In Aug 2023, authorities decided to develop the Delhi-Gurgaon-SNB RRTS corridor in two phases—first from Sarai Kale Khan to Dharuhera and later extending to SNB. However, in a meeting chaired by Union minister for housing and urban affairs Manohar Lal Khattar and co-chaired by Haryana CM Nayab Singh Saini last year, it was decided to develop the entire corridor at once. Meanwhile, momentum is building on other fronts of the metro project. A joint venture of Deutsche Bahn Engineering & Consulting (DBEC) and Hill International has been shortlisted for the role of general consultant (GC) for the Gurgaon Metro. "Negotiations with the consortium were held in Chandigarh on Friday and the contract will be awarded shortly," the official said.
Time of India
24-06-2025
- Business
- Time of India
Gurgaon Metro project: 2019 plan, 2029 reality? How delays pushed back timeline; phase-1 stalled & no contractor yet
GURGAON: Dharam Vir Sagar , who has lived in Sector 4 since 1971, saw the city grow "in a way I never imagined". But this was, he says, an anomalous growth that is yet to correct itself. "It happened just on one side of the highway," he says. "I saw the city's metamorphosis from a place of open fields to its current skyline. But all the change happened on one side of the highway. New and old Gurgaon became different places with the highway dividing them. The only thing that can change that is metro. But we're waiting," says Sagar, referring to the Gurgaon Metro project that has spent more than half a decade in the approval stage since its first proper route map (and DPR, or detailed project report) was drawn up in 2019. Old, new & the gap Connecting new and old Gurgaon and bridging the 'gap' that Sagar, who is in his 80s, speaks about, the corridor beginning from Millennium City Centre, crossing the highway and cutting an arc through old Gurgaon before crossing the highway again to terminate at Cyber City, will solve much of Gurgaon's connectivity problems and reduce the current, unsustainable dependence on cars. But when will it take shape? Prolonged starting pangs means that's a hard timeline to predict. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo The most optimistic one is mid-2029, practically the end of this decade. The delays, for a project that should have got top priority from the state and Centre, because of the city's rapid expansion, its criticality to the Delhi-NCR economy, and increasing struggles with local commute, are perplexing for Sagar. "In the 80s, we would catch a local train and be in Old Delhi within an hour. Now, it takes more than two hours from here by car," he says. And for lakhs of people, car translates into a cab. If one is living in new sectors near Dwarka Expressway, the nearest metro is City Centre, which is an expensive cab ride. A corridor of solutions Solutions, therefore, rest heavily on Gurgaon Metro, the 28-station corridor that has been carefully planned to link busy areas, residential hubs of future, and connectivity blind spots. Four years after the state drew up the DPR and alignment, the project received the all-important Public Investment Board (PIB) clearance from the Centre in Nov 2022 and Cabinet approval in June 2023. The 28.5km corridor - along with a 1.8km spur to Dwarka Expressway - is to be built at an estimated cost of Rs 10,226 crore and has a construction timeline of four years. It was originally planned as a fully elevated line with 27 stations. Later, a 1.4km extension was added to connect Sector 5 station with Gurgaon railway station, taking the total length to 29.9km and the number of stations to 28. A large section of this corridor caters to congested parts of the old city, which have a wide mobility gap with the newer half of the city on the other side of the expressway. The city was connected to Delhi through the Yellow Line in 2010 when the 5.3km city section opened. Since then, the only addition to the metro network has been the 11.7km Rapid Metro line that runs Golf Course Road, with a loop to Cyber City from Sikanderpur. To newer parts of the city and new sectors along Southern Peripheral Road, Rapid Metro offered some relief since the corridor was completed in 2017. But the old city remained disconnected. What caused the delay In the two years since the Cabinet nod, however, nothing has moved on the ground. Gurugram Metro Rail Limited (GMRL), the special purpose vehicle for the project was set up as 50:50 joint venture between the state and Centre only in Feb 2024. Key leadership positions, including director (projects & planning) and director (rolling stock & electrical), remained vacant till Feb 2025, even though recruitment notices were issued in July 2024. A senior GMRL officer said such initial challenges happen with any new organisation. "Setting up a new entity takes time. Statutory approvals, hiring leadership, and creating working infrastructure are time-consuming," the officer said. Beyond the organisational setup, appointment of the Detailed Design Consultant (DDC) - a prerequisite for civil works - faced repeated setbacks. Tenders for hiring a DDC were floated in Aug 2022, March and May 2023, and July 2024. While participation was low, the last round saw only one bidder. The bid was accepted, but the appointment got delayed because of the model code of conduct for the assembly polls. A tender for appointing another DDC - to proof-check structural and civil designs - was floated in Dec 2024. That saw no response. The bid was reissued in Feb 2025, but there has been no progress since. Appointment of a General Consultant (GC), the body that will oversee construction and quality control, is yet to happen. Though eight bids were received, evaluation is still on. Tenders for Phase 1 civil construction - covering a 15.2km viaduct, 14 elevated stations, and a spur to Dwarka Expressway - haven't moved beyond the evaluation stage. The original deadline for bidding was April 22 this year. But after GMRL decided to include construction of the Bakhtawar Chowk underpass in its scope of work, the deadline was extended to May 15. Eight firms submitted bids, which are being reviewed. Progress is slower for Phase 2. GMRL floated a tender for geotechnical surveys only in May 2025. At the moment, the four-year construction timeline doesn't look like a realistic one. If work does manage to begin for the first phase by year-end, sources said they expect the 15-station stretch to be commissioned by the end of 2028. A wait too long For those like Rakhi Sahu, a Ramprastha City resident for seven years, the wait seems interminable. "Development reached our gates, but not metro. At present, it takes at least 45 minutes to reach Millenium City Centre from my society. Buses have negligible presence. Delhi Metro completely transformed how people commute in the capital. A similar transition is long overdue for Gurgaon," Sahu said. Brig Sukhbir Singh (retd), vice-president of Palam Vihar RWA, wondered why govt did not just give DMRC the job of building the new corridor. "Creating a whole new agency instead of using experienced ones like DMRC is a mistake. Work on Phase 1 hasn't even started. Who knows how long Phase 2 will take? Metro connectivity for older parts of Gurgaon has been pending for long, and road congestion is only getting worse. It's high time govt prioritised mass transit," Singh said. Officials insist that while delays have occurred, the project is now moving in the right direction. "These are background planning and processes may not be visible to the public, but they are essential to avoid mistakes during construction," a senior GMRL officer said. Officials said the process for Phase 2 would also move quickly and they expect it to be completed by mid-2029. In Dec 2024, chief minister Nayab Singh Saini had promised that construction would begin on May 1. With a concessionaire yet to be appointed for Phase-1, that is still months away. More time this takes, more it will test the mid-2029 timeline.
Time of India
18-06-2025
- General
- Time of India
3 houses on Gurgaon Metro's route: Resolve roadblock, says Haryana chief secretary
Gurgaon: Giving a push to the long-delayed Gurgaon Metro project, chief secretary Anurag Rastogi on Wednesday directed the district administration to resolve an issue pertaining to land transfer "amicably" so that it can be handed over to GMRL without further delay. Three houses — two houses in Sector 4 and a third in Sector 9 — fall on the alignment of the route planned for the Millennium City Centre-Cyber City metro corridor. Rastogi directed all departments to resolve roadblocks hindering construction and asked deputy commissioner Ajay Kumar to "hold "immediate discussions" with the landowners. This comes after GMRL apprised him that all the owners are willing and have demanded alternate plots of similar size and fair compensation at market rate. A detailed discussion followed on the Hero Honda Chowk–Umang Bhardwaj Chowk stretch, which continues to face obstructions in a nearly 2km section. According to GMRL, the power sub-station has not been shifted, while the Himgiri Ashram land is yet to be vacated. Additionally, the presence of Bikaner Mishtaan Bhandar, high-tension lines and towers and a CNG pump is impeding the planned metro route. Rastogi instructed GMDA, HSVP and NHAI to address these issues urgently and expedite clearance. GMDA officials said the forest department has granted approval for felling 1,300 trees.
