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Real Estate Trends and Property Rates in Gurgaon: Price for Different Areas Per Sqare Foot in 2024
Updated : September 17, 2024
Author :
Table of Contents
Gurugram is home to hundreds of startups, more than 250 Fortune 500 companies, and the headquarters for many of India’s largest corporations. It accounts for more than 70% of the state’s total annual economic investments, assisting it in becoming a vital centre for northern India’s high-tech industry. As a result, property rates in Gurugram have fluctuated considerably.
Gurugram is home to hundreds of startups, more than 250 Fortune 500 companies, and the headquarters for many of India’s largest corporations. It accounts for more than 70% of the state’s total annual economic investments, assisting it in becoming a vital centre for northern India’s high-tech industry. As a result, property rates in Gurugram have fluctuated considerably.
With a Human Development Index (HDI) of 0.889, Gurugram is classified as a high-development city (2017). Despite the tremendous economic and demographic expansion, Gurugram faces socio-economic challenges like severe income disparity and air pollution, contributing to its property rates.
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Gurugram Property Rates in 2024
Private firms construct the majority of the city’s infrastructure. New Gurgaon, Manesar, and Sohna are Gurgaon’s neighbouring manufacturing and emerging real estate centres. Sushant Lok, Sector 48, Sector 52, and DLF City are just a handful of the popular residential areas in Gurgaon.
There are numerous new launch projects in Gurgaon and many affordable flats. While land prices in Gurgaon are increasing, you can also purchase plots and properties here.
Gurugram Flat Rate / Gurugram Apartment Cost in 2024
The average Price for independent house rates in Gurgaon is as follows:
| Configuration | Cost in Rupees |
| 1BHK | ₹48 Lakhs |
| 2BHK | ₹89 Lakhs |
| 3BHK | ₹3.7 Crores |
| 4BHK | ₹5.2 Crores |
House Rates in Gurgaon (Independent)
The average Price for independent house rates in Gurgaon is as follows:
- 1 BHK- Rs. 48 lakhs
- 2 BHK- Rs. 89 lakhs
- 3 BHK- Rs. 3.7 crores
- 4 BHK- Rs. 5.2 crores
Here is a tabulation of real estate prices in Gurgaon for the top 15 localities for 2020 and 2021 and the growth rate in the cost. The property prices in Gurgaon are given as per the current square feet rate in Gurgaon.
| Locality Name | Buy Rates/Price Range (₹per sq. ft.) | ||
| 2024 | 2023 | Y/Y growth rate | |
| DLF CITY PHASE 1 | ₹6,418 - ₹8,288/sq. ft. | ₹6,818 - ₹8,700/sq. ft. | -4.44% |
| DLF CITY PHASE 2 | ₹10,072 - ₹11,178/sq. ft. | ₹10,475 - 11,470/sq. ft. | 2.88% |
| DLF CITY PHASE 3 | ₹10,030 - ₹11,985/sq. ft. | ₹10,030 - ₹11,200/sq. ft. | 3.09% |
| DLF CITY PHASE 5 | ₹11,050 - ₹12,325/sq. ft. | ₹11,050 - ₹12,925/sq. ft. | 4-5% |
| Sector-49 Gurugram | ₹7,182 - ₹7,990/sq. ft. | ₹7,182 - ₹7,990/sq. ft. | Constant |
| Sector-15 Gurugram | ₹5,950 - ₹7,480/sq. ft. | ₹6,750 - ₹8,180/sq. ft. | -8-12% |
| Sector-22 Gurugram | ₹ 8,968 - ₹10,115/sq. ft. | ₹8,968 - ₹10,115/sq. ft. | Constant |
| Sector-82 Gurugram | ₹4,718 - ₹5,270/sq. ft. | ₹4,118 - ₹5,270/sq. ft. | 6-7% |
| Sector-31 Gurugram | ₹7,098 - ₹10,115/sq. ft. | ₹ 7,098 - ₹10,115/sq. ft. | 3.52% |
| Sector-47 Gurugram | ₹6,502 - ₹7,990/sq. ft. | ₹6,502 - ₹7,990/sq. ft. | Constant |
| Sector-51 Gurugram | ₹5,738 - ₹6,545/sq. ft. | ₹5,938 - ₹6,945/sq. ft. | -2-5% |
| Sector-54 Gurugram | ₹13,345 - ₹15,300/sq. ft. | ₹13,345 - ₹14,600/sq. ft. | 4.57% |
| Sector-56 Gurugram | ₹5,822 - ₹6,758/sq. ft. | ₹5,822 - ₹6,758/sq. ft. | Constant |
| Sector-57 Gurugram | ₹6,375 - ₹7,395/sq. ft. | ₹6,075 - ₹7,095/sq. ft. | 1.23% |
| Sushant Lok | ₹7,310 - ₹10,285/sq. ft. | ₹7,310 - ₹9,685/sq. ft. | 3.11% |
Plot / Land Rates in Gurugram
The average land rates in Gurugram per square foot are ₹4967/sq. Ft
Here is a tabulation of the land of the top 15 localities for 2023 and 2024 and the growth rate in area-wise land rates in Gurugram. The price is mentioned per land rate in Gurugram per square yard.
| Locality Name | Buy Rates/Price Range (₹per sq. yd.) | ||
| 2023 | 2024 | Avg. Y/Y growth rate | |
| DLF CITY PHASE 4 | ₹1,70,212 - ₹2,06,168/sq. yd. | ₹1,50,212 - ₹2,00,168/sq. yd. | 7-10% |
| DLF CITY PHASE 2 | ₹1,85,895 - ₹2,12,670/sq. yd. | ₹1,65,895 – ₹1,96,670/sq. yd. | 9% |
| DLF CITY PHASE 3 | ₹1,20,105 - ₹1,48,028/sq. yd. | ₹1,20,105 - ₹1,48,028/sq. yd. | Constant |
| DLF CITY PHASE | ₹1,69,830 - ₹2,08,845/sq. yd. | ₹1,59,830 - ₹2,00,845/sq. yd. | 5-6% |
| Sector-48 Gurugram | ₹1,02,128 - ₹1,16,280/sq. yd. | ₹92,128 - ₹1,00,350/sq. yd. | 12-18% |
| Sector-15 Gurugram | ₹1,18,575 - ₹1,21,252/sq. yd. | ₹1,18,575 - ₹1,21,252/sq. yd. | Constant |
| Sector-22 Gurugram | ₹89,505 - ₹1,00,598/sq. yd. | ₹89,505 - ₹1,00,598/sq. yd. | Constant |
| Sector-83 Gurugram | ₹73,058 - ₹84,915/sq. yd. | ₹65,000 - ₹78,915/sq. yd. | 14-18% |
| Sector-31 Gurugram | ₹1,10,925 - ₹1,23,548/sq. yd. | ₹1,00,225 - ₹1,10,550/sq. yd. | 11.51% |
| Sector-48 Gurugram | ₹1,02,128 - ₹1,16,280/sq. yd. | ₹1,02,128 - ₹1,02,250/sq. yd. | 8-15% |
| Sector-51 Gurugram | ₹1,12,072 - ₹1,26,990/sq. yd. | ₹1,12,072 - ₹1,26,990/sq. yd. | Constant |
| Sector-54 Gurugram | ₹1,65,240 - ₹1,87,042/sq. yd. | ₹1,60,040 - ₹1,82,042/sq. yd. | 1-5 |
| Dwarka Expressway Gurugram | ₹63,495 - ₹80,708/sq. yd. | ₹58,400 - ₹72,908/sq. yd. | 9% |
| Sector-57 Gurugram | ₹1,02,128 - ₹1,14,750/sq. yd. | ₹1,02,128 - ₹1,08,750/sq. yd. | 3-6% |
| Sushant Lok | ₹1,51,088 - ₹1,77,098/sq. yd. | ₹1,39,088 - ₹1,65,098/sq. yd. | 9.77% |
Average Cost of Independent Houses in Gurugram
The average price for independent house rates in Gurugram is as follows:
| Configuration | Cost in Rupees |
| 1BHK | 48 Lakhs |
| 2BHK | 89 Lakhs |
| 3BHK | 3.7 Crores |
| 4BHK | 5.2 Crores |
Here is a tabulation of real estate prices in Gurugram for the top 15 localities for 2023 and 2024 and the growth rate in the cost. The Gurugram Jamin rates are based on the current rate of square feet.
| Locality Name | Buy Rates/ Price Range (₹per sq. ft.) | ||
| 2024 | 2023 | Avg. Y/Y growth rate | |
| DLF CITY PHASE 1 | ₹7,650 - ₹10,115/sq. ft. | ₹7,250 - 9815/sq. ft. | 1.47% |
| DLF CITY PHASE 2 | ₹7,778 - 9,818/sq. ft. | ₹7,778 - 9,318/sq. ft. | -1-2% |
| DLF CITY PHASE 3 | ₹6,800 - 8,372/sq. ft. | ₹6,800 - 8,372/sq. ft. | Constant |
| DLF CITY PHASE 5 | ₹9,350 - 11,688/sq. ft. | ₹8,450 - 10,800/sq. ft. | 10.86% |
| Sector-49 Gurugram | ₹4,802 - 6,078/sq. ft. | ₹5,102 - 6,378/sq. ft. | -2.27% |
| Sector-15 Gurugram | ₹5,185 - 6,672/sq. ft. | ₹5,185 - 6,672/sq. ft. | Constant |
| Sector-23 Gurugram | ₹5,228 - 6,162/sq. ft. | ₹5,828 - 6,762/sq. ft. | -4.29% |
| Sector-82 Gurugram | ₹4,250 - 5,058/sq. ft. | ₹4,750 - 5,558/sq. ft. | -3.54% |
| Sector-31 Gurugram | ₹6,035 - 6,928/sq. ft. | ₹6,035 - 6,220/sq. ft. | 3-5% |
| Sector-47 Gurugram | ₹5,865 - 7,608/sq. ft. | ₹5,865 - 7,308/sq. ft. | 1-3% |
| Sector-51 Gurugram | ₹5,610 - 6,842/sq. ft. | ₹5,210 - 6,342/sq. ft. | 4-5% |
| Sector-54 Gurugram | ₹6,630 - 8,798/sq. ft. | ₹6,050 - 8,200/sq. ft. | 7-8% |
| Sector-56 Gurugram | ₹5,440 - 6,418/sq. ft. | ₹5,440 - 6,418/sq. ft. | Constant |
| Sector-57 Gurugram | ₹5,100 - 6,248/sq. ft. | ₹5,100 - 6,248/sq. ft. | Constant |
| Sushant Lok | ₹6,630 - 8,415/sq. ft. | ₹6,430 - 8,115/sq. ft. | 2.33% |
Property Rents in Gurugram
Now, we will examine the average flat rent in Gurugram and discuss all kinds of apartments, including 2 BHK, 3 BHK, 1 BHK, and 1 RK.
2 BHK Rent in Gurugram
The average 2 BHK rent in Gurugram is ₹22,800. Here, we have tabulated the property rent in Gurugram’s top 15 localities for 2023 and 2024 and the growth rate in the rent.
| Locality Name | Average Rental Rates of 2 BHK | ||
| 2024(₹) | 2023 (₹) | Avg. Growth Rate Y/Y | |
| Sector 57 | 20,500 | 24,000 | 20% |
| Sector 49 | 22,500 | 20,000 | 8-10% |
| Sector 54 | 22,500 | 14,000 | - 20-30% |
| Sector 48 | 25,000 | 23,750 | 8-12% |
| Sector 46 | 19,500 | 21,727 | - 8-10% |
| PALAM VIHAR | 19,000 | 19,000 | Constant |
| Sector 47 | 23,000 | 21,600 | 8-10% |
| Sector 56 | 23,000 | 23,000 | Constant |
| Sector 51 | 20,500 | 22,700 | - 5-7 |
| Sector 52 | 21,500 | 21,000 | Constant |
| Sushant Lok | 30,000 | 23,000 | 25-35% |
| Sector 50 | 23,000 | 18,000 | 20% |
| Sector 86 | 11,500 | 14,500 | - 10-15% |
| Sector 15 | 22,000 | 20,500 | 8-14% |
| DLF Phase 4 | 20,500 | 20,000 | Constant |
3 BHK Rent in Gurugram
The average 3 BHK rent in Gurugram is ₹36,090. Here, we have tabulated the flat rent rates in Gurugram’s top 15 localities for 2023 and 2024 and the rent growth rate.
| Locality Name | Average Rental Rates of 3 BHK | ||
| 2024(₹) | 2023 (₹) | Avg. Growth Rate Y/Y | |
| Sector 57 | 34,500 | 34,750 | Constant |
| Sector 49 | 30,500 | 30,500 | Constant |
| Sector 54 | 40,500 | 42,000 | - 5-13% |
| Sector 48 | 60,000 | 58,000 | 2-5% |
| Sector 46 | 30,500 | 27,100 | 5-12% |
| PALAM VIHAR | 27,750 | 31,000 | - 5-13% |
| Sector 47 | 29,500 | 33,900 | - 8-15% |
| Sector 56 | 36,000 | 31,500 | 12-18% |
| Sector 51 | 34,500 | 37,250 | - 5-13% |
| Sector 52 | 34,850 | 26,600 | 20-28% |
| Sushant Lok | 60,500 | 60,000 | Constant |
| Sector 50 | 31,750 | 32,000 | Constant |
| Sector 86 | 22,500 | 26,000 | - 12-18% |
| Sector 15 | 22,000 | 25,200 | - 12-18% |
| DLF Phase 4 | 46,000 | 40,000 | 20-28% |
1 BHK Rent in Gurugram
The average 1 BHK rent in Gurugram is ₹14,257. Here, we have tabulated the flat rent rates in Gurugram’s top 15 localities for 2023 and 2024 and the rent growth rate.
| Locality Name | Average Rental Rates of 3 BHK | ||
| 2024(₹) | 2023 (₹) | Avg. Growth Rate Y/Y | |
| Sector 57 | 12,500 | 12,500 | Constant |
| Sector 49 | 8,500 | 10,500 | - 20% |
| Sector 54 | 18,850 | 16,500 | 12-18% |
| Sector 48 | 20,000 | 14,850 | 20-28% |
| Sector 46 | 15,500 | 12,606 | 12-18% |
| PALAM VIHAR | 10,750 | 15,000 | - 25-35% |
| Sector 47 | 13,500 | 11,500 | 12-22% |
| Sector 56 | 16,000 | 22,000 | - 20-25% |
| Sector 51 | 13,500 | 12,400 | 5-10% |
| Sector 52 | 14,250 | 13,850 | 2-7% |
| Sushant Lok | 26,250 | 14,349 | 25-30% |
| Sector 50 | 11,750 | 13,000 | - 10-12% |
| Sector 86 | 8,500 | 6,740 | 12-22% |
| Sector 15 | 9,000 | 13,500 | - 20-25% |
| DLF Phase 4 | 15,000 | 14,850 | Constant |
1 RK Rent in Gurugram
The 1 RK rent in Gurugram is ₹11,750. Here, we have tabulated the flat rent rates in Gurugram’s top 15 localities for 2023 and 2024, as well as the growth rate in rent according to property trends in Gurugram.
| Locality Name | Average Rental Rates of 1rk | ||
| 2024(₹) | 2023 (₹) | Avg Growth Rate Y/Y | |
| Sector 57 | 10,000 | 9,500 | Constant |
| Sector 49 | 8,000 | 9,500 | - 5-12% |
| Sector 54 | 14,500 | 13,500 | 5-8% |
| Sector 48 | 15,000 | 9,000 | 22-30% |
| Sector 46 | 13,500 | 11,000 | 15-25% |
| PALAM VIHAR | 10,000 | 12,000 | -15% |
| Sector 47 | 12,500 | 12,500 | Constant |
| Sector 56 | 13,000 | 15,000 | -10% |
| Sector 51 | 11,500 | 11,000 | Constant |
| Sector 52 | 14,000 | 13,000 | 3-7% |
| Sushant Lok | 16,250 | 14,000 | 10-15% |
| Sector 50 | 9,500 | 10,000 | Constant |
| Sector 86 | 7,500 | 6,500 | 13% |
| Sector 15 | 8,000 | 11,000 | - 14-20% |
| DLF Phase 4 | 13,000 | 12,000 | 2-8% |
Property Rental Options in Gurgaon
If you are looking at rental options across Gurgaon, keep these things in mind–
- Popular Configuration: Larger residences, such as 3BHK units, are preferred even for rent in Gurgaon, closely followed by 2BHK units.
- Affordable Properties on Rent: There are about 200 properties priced under Rs 10,000 per month in areas like Sector 50, Sushant Lok, Sector 48, Sector 52, DLF City, and others. These are apartments, single-family residences, or villas located throughout Gurgaon. Those that are reasonably priced, on the other hand, maybe modest configurations.
- Luxury Homes on Rent: If you’re seeking a luxurious home in Gurgaon, look no further than Sushant Lok, Sector 48, Sector 52, and DLF City, where you can find properties in Gurgaon property prices range of Rs 50,000 per month and above. These could be apartment units, villas, or single-family residences.
- Furnished Homes on Rent: Many fully furnished houses are available for rent in Gurgaon. Monthly rent for such houses can range from Rs 5,000 to Rs 1.30 lakh, depending on the size of the unit, exact location of the property, developer name, quality of building and furnishing, and fittings. Inquire about the security deposit for these Gurgaon rental homes. The complete list of completely equipped residences may be found here.
- Villas on Rent in Gurgaon: If apartment units are not your preference, independent homes and villa developments for rent in Gurgaon are available. Houses are available for rent in the Rs 2,500 to Rs 1.50 lakh per month bracket.
- Annual Yield: The annual rental yield in Gurgaon is 2.7%. If you rent out the property for a year, you could recoup 2.7 percent of the purchase price.
This computation is based on the city’s average rates and is not set in stone. It helps a potential landlord calculate his annual rental yield.
Why Gurgaon has High Property Rates
The Gurgaon real estate market can be shocking at times, with purchasers spending crores on homes under 2500 square feet and more than Rs. 30 lacs for a 1 bedroom.
This is unquestionably a massive and enormous real estate micro-market due to its inherent immensity that even the most seasoned investors find challenging to manage.
Gurgaon’s residential property costs have increased recently and have gotten relatively expensive. From January to March 2020, prices in newer neighbourhoods along Golf Course Extension Road increased by an astounding 6.97 percent.
Some common reasons for the exuberant property rates in Gurgaon are–
1. Affluent Customer Base
A quarter of India’s billionaires dwell in Delhi-NCR, with Gurgaon acting as their primary or secondary abode. A lot of highly compensated MNC employees are also prepared to spend more for a luxury home in a gated neighbourhood.
As a result, several renowned real estate developers are developing opulent residential structures with the most modern amenities, including DLF, Tata Housing, and Godrej Properties.
2. Rising Business Hub
Gurgaon has its own unique identity as a North Indian IT cluster due to the several MNCs that call this area home. Gurgaon is a centre for business growth in addition to being a great place to live. However, it is expensive to buy or rent a commercial property in this city. The cost of commercial real estate in Gurgaon is among the highest in India.
As per the current real estate trends in Gurgaon, property rates in Gurgaon have grown quite well in some areas while some recorded a decline. Gurgaon’s real estate has a lot to offer as one of the country’s most populous cities. If you are looking for rental houses, there is a wide range of possibilities available, from economical accommodation to luxury residences.
3. Infrastructure Development
The rapid infrastructure development in Gurgaon is another factor that contributes to the high property rates. The city is well-connected to major highways, including the Delhi-Jaipur Expressway, Kundli-Manesar-Palwal Expressway, and Dwarka Expressway. The upcoming Delhi-Mumbai Industrial Corridor and the proposed high-speed railway network are expected to further enhance Gurgaon's connectivity and make it a preferred destination for real estate investment.
4. Lifestyle Amenities
Gurgaon is known for its luxurious lifestyle amenities, which include high-end shopping malls, restaurants, and entertainment centres. The presence of such amenities adds to the quality of life in Gurgaon and makes it a sought-after location for homebuyers. Developers are also focusing on providing lifestyle amenities within their residential projects, such as swimming pools, clubhouses, and fitness centres, which further increase the property rates in the city.
5. Limited Land Availability
Another reason for high property rates in Gurgaon is the limited availability of land for new developments. Gurgaon is a densely populated city, and there is very little vacant land left for new residential or commercial projects.
This scarcity of land drives up the prices of existing properties, and developers need to pay a premium to acquire land for new projects, which ultimately affects the property rates. The limited land availability also leads to an increase in demand for properties, particularly in prime locations, which further contributes to the high property rates in the city.
Overall, Gurgaon's high property rates are a reflection of its status as a prime real estate market in India, driven by the city's affluent customer base, rising business hub, infrastructure development, and lifestyle amenities.
However, to get the best deals at Gurgaon real estate prices, you have to buy property in Gurgaon at the right price. If you need help in understanding which Gurugram property rates are favourable for you, you will surely find the right help at NoBroker. Please leave a comment below this article; our executive will be in touch with you soon.
Frequently Asked Question
Ans: Gurgaon's land value continues to increase due to its rapid development, which has resulted in a surge in employment opportunities and a higher standard of living. As a result, there is a high demand for premium real estate in the area, which has driven up the land value in Gurgaon.
Ans: If you're looking for a plot in DLF City, Gurgaon, the average price per square yard ranges from Rs. 1,70,000 to Rs. 2,10,000. However, the final plot rate may vary depending on factors such as location, plot size, and amenities available.
Ans: The average cost of a 2-bedroom apartment in Gurgaon is around Rs. 75 lakhs to 79 lakhs. However, the actual cost of a property can vary depending on the location, amenities available, and the builder's reputation.
Ans: Despite increasing property prices over the past decade, Gurgaon remains an affordable city to live in, thanks to its amenities and quality of life. While property prices may be on the rise, the cost of living in Gurgaon is still lower than in other major cities in India.
Ans: Property rates in Gurgaon are influenced by various factors, including location, connectivity, infrastructure, and amenities. Properties located in prime locations with good connectivity to major hubs and amenities such as schools, hospitals, and shopping centres tend to command higher prices.
The reputation of the builder, the quality of construction, and the size of the property are also important factors that influence property rates in Gurgaon. Additionally, market trends, economic conditions, and government policies can also have an impact on property rates in the city.
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