When Gurgaon real estate market is going to become saturated, with skyrocketing prices and scant land supply, Naugaon is quickly becoming the next big thing in North India. Naugaon, which is just over the Haryana-Rajasthan boundary and is well located along the Delhi-Mumbai Industrial Corridor (DMIC), is gaining prominence among developers and investors; a fact that is making many refer to it as the New Gurgaon.
Naugaon A Strategic Bet on Future Urbanization
Located some 80 kilometers away, Naugaon has an attractive value-point to individuals that cannot afford the high price in the premium market of Gurgaon. This new township is being touted as one of the most attractive locations because it is close to major infrastructure, e.g. the DMIC, and the future logistics and industrial hubs are likely to increase local economical activity.
According to real estate observers, Naugaon stands a chance to follow the success template of the Gurgaon which has transformed a farmland into a global business capital within a matter of less than 20 years.
Key Drivers Behind Naugaon’s Growth
1. Proximity to Major Infrastructure Projects
Naugaon is adjacent to the DMIC that is set to become one of the largest industrial corridors in the globe, offering trade and logistics between the cities of Delhi and Mumbai. Such a strategic stance will ensure that Naugaon is included into one of the largest economic growth corridors, where industries and the workforce will also need to be housed and to rent commercial spaces.
2. Developers Flock to Naugaon
Prominent developers like Central Park and Ram Rattan Group are making big moves in Naugaon, showing their belief in the area’s potential. They’re planning exciting projects such as integrated townships, plotted developments, and eco-friendly farmhouse communities, all designed for those seeking affordable luxury with great connectivity to Delhi-NCR.
3. Affordability Compared to Gurgaon
While the land prices in Gurgaon have skyrocketed to levels that many investors find hard to swallow, Naugaon offers a refreshing alternative. Here, you can snag land at a fraction of what you’d pay in Gurgaon, with the added bonus of potential appreciation as the area develops into a bustling residential and commercial hub.
Naugaon vs. Gurgaon The Emerging Alternative
The success of Gurgaon was enhanced as a result of initial investments in infrastructure, creation of Cyber City and the establishment of regional headquarters by multinational corporations. But, as scarce space, high prices now characterize Gurgaon, developers and investors are seeking the next big thing.
The attraction of Naugaon is its blank slate-developers have the potential to build modern, sustainable urban communities on a tabula rasa, yet they are within easy reach of established markets such as Gurgaon, Delhi and Jaipur.
Investor Sentiment The Early Mover Advantage
According to real estate advisors, early investors in Naugaon can get high returns in a long term. Just as people who invested in the Golf Course Road in Gurgaon in the early 2000s or in Sohna Road in today’s times, the people investing in Naugaon are poised to make a considerable capital gain when infrastructural development serves them better.
A real estate consultant, Deepti Malik, says history is repeating itself. It is the same trend we observed in Naugaon a few years ago: developers are on the move, prices remain affordable and the infrastructure pipeline is healthy.
Who is Buying in Naugaon?
Even as big time developers are busy with their plans, Naugaon is also attracting individual investors and home buyers. The affordability and the possibility of buying larger plots or houses are attracting the millennials and younger professionals towards the region because they would have spent more money to buy the same thing back in Gurgaon.
Moreover, the Naugaon has an attraction to High Net-Worth Individuals (HNIs) seeking a weekend home or farmhouse housing that can provide them with the quietness of the countryside and the connected nature of the city.
Challenges Ahead
While the outlook is optimistic, there are several challenges that could impact Naugaon’s trajectory:
- Speed of Infrastructure Implementation: The timeline for key infrastructure projects, such as road networks and industrial hubs along the DMIC, will be crucial to Naugaon’s success.
- Demand Diversification: While residential demand is growing, Naugaon will need to attract businesses and commercial spaces to become a self-sustained urban center, similar to Gurgaon’s corporate-driven ecosystem.
- Regulatory Framework: Ensuring proper regulatory oversight and streamlined project approvals will be essential to maintain investor confidence and avoid the pitfalls faced by other emerging real estate markets.
The Road Ahead
As the prices of land in the strategic areas of Delhi-NCR skyrocket and many cannot afford it, Naugaon is an exciting option to many end-users and investors. It is one of the most promising real estate frontiers in North India because of the affordability, promise of infrastructure, and interest by developers.
Although it is still too early to consider Naugaon the ultimate New Gurgaon, the indicators of the change are obvious. The industry experts opine that in the coming five to ten years Naugaon may turn out to be a full fledged urban centre, similar to the success story that saw Gurgaon setting the standards of urban development in India.
Because of its proximity to DMIC, availability of affordable land, and potential for large-scale infrastructure development, major developers are launching integrated townships and plotted developments here.
Naugaon offers land at a fraction of Gurgaon’s prices, making it attractive for first-time buyers, investors, and those seeking larger plots without overspending.
The DMIC, upcoming logistics hubs, and improved connectivity to Delhi, Gurgaon, and Jaipur are expected to transform Naugaon into a major residential and commercial hub.
Yes, it’s ideal for first-time buyers due to its affordability, potential for appreciation, and the availability of larger homes and plots compared to Gurgaon.
Prominent developers like Central Park and Ram Rattan Group are already working on residential townships, plotted colonies, and eco-friendly farmhouse projects.
