Gurugram’s Golf Course Road, located in the Delhi-National Capital Region (NCR), has witnessed a significant rise in luxury rentals. Senior executives and expatriates returning to work have fuelled this surge, leading to a year-on-year increase of 14% in rental rates, as per the recent Savills report.
The upscale micro markets of central Noida, and select areas in Mumbai and Bengaluru have also experienced notable increases in luxury rentals. As demand for luxury property grows, rental rates have followed suit, making the region an attractive investment opportunity.
“Golf Course Road is undoubtedly the most sought-after residential and commercial neighborhood in the city of Gurugram or rather NCR. It would be an understatement to say it is not the downtown region of Gurugram. The 8-km stretch road has some of the most popular commercial addresses of Gurugram and the most expensive residential properties. There are 90+ fine dining restaurants, plenty of premium hypermarkets, clubs, and high street retail, which makes it a perfect place for the rich to live and socialize,” says Sanjeev Arora, Director, 360 Realtors.
Another benefit of the Golf Course Road is immaculate connectivity. It is a 30-minute drive from the airport. “Likewise, it is well connected to Gurgaon Faridabad expressway, NH 48, and Sohna Road. The malls of Gurugram and major business parks are also at a convenient distance,” Arora adds.
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The rise in luxury rentals on Gurugram’s Golf Course Road has positively affected other parts of the Delhi NCR. As property prices increase, rental rates tend to rise, enabling landlords to command higher rentals due to the limited availability of upscale accommodations. This trend has not only been observed in Gurugram. Prime areas of cities such as Delhi, Mumbai, and Bengaluru are also witnessing a similar trend.
“Golf Course Road has always been preferred for high-net-worth individuals and ultra-high-net-worth individuals seeking luxury homes in Gurugram. The demand for upscale rentals in this area has been consistently high, contributing to significant rental appreciation in recent years,” says Nayan Raheja of Raheja Developers.
“The surge in luxury rental demand has had a cascading effect on the entire region. The scarcity of high-end properties in sought-after locations has driven rental rates up, providing a favourable environment for investors and landlords alike,” says Ashwani Kumar of Pyramid Infratech.
In India, housing is no longer solely about meeting basic needs. It has evolved into a desire for optimal living, which is evident not only in purchase decisions but also in renting choices.
Alongside the rise in rental demand, Golf Course Road has witnessed the launch of new luxury projects. Golf Links’ residences are among the most expensive rentals in luxury and super-luxury segments nationwide. The demand for rentals in this area is driven by regional expatriate residents, Delhi-NCR-based businessmen, and prospective homebuyers transitioning from bungalows to high-rise condominiums.
The surge in luxury rentals along Gurugram’s Golf Course Road and other prime areas of Delhi NCR has positioned the region as a sound investment proposition. The rise in rental rates, influenced by increased demand and limited availability of upscale accommodations, has made luxury rentals a lucrative option for landlords. This trend has also positively impacted other parts of the region, creating a spin-off effect. With the focus shifting towards optimal living and the launch of new luxury projects, Gurugram’s Golf Course Road continues to attract high-net-worth individuals and investors seeking upscale rental opportunities.