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Ashok Jaunapuria the MD & CEO of SS Group informed ET that the group is planning to invest 1950 crores for developing 4.15 million Sq.ft of residential projects including low-rise floors and commercial space in 2022-23.

The group has delivered 17 million Sq.ft of area across 23 projects in Gurgaon till now and expects a growth of 30% in the revenue in the year 2021-22.

Rising demand coupled with soaring construction costs have led to realty prices going up as developers seek to protect their margins. As per Knight Frank India’s report, India’s leading real estate markets have witnessed hike in average capital values of residential projects. During the end of quarter in March, all the cities posted YOY growth of 7% in per square feet prices. Bengaluru registered the maximum growth in prices of 7% followed by Pune and Mumbai of 5% and 4% respectively. Hyderabad and Chennai witnessed lowest price rise of 1%. One of the prime reasons of this price hike is rise in cost of prime raw materials from 20 to 70% in the last year.

The residential property market saw a surge in sales in top 8 cities despite obstacles created by the pandemic. The Q1 of the new year witnessed a hike of 9% from a year ago while other leading markets witnessed a 1-7% rise in the capital value of residential properties as demand kept increasing, as per Knight Frank Report. The supply of residential property market is equivalent to demand as new launches were 78171 units. Mumbai recorded 21548 units in sales while Delhi-NCR saw growth in sales volume of 123%.

Gurgaon, often called the millennium city, has witnessed a remarkable transformation. With is strategic location near the national capital, excellent connectivity, and thriving business ecosystem,