Articles
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Investing in Gurgaon Property
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Gurgaon is not only the sixth largest city in the Indian state of Haryana but also is a sprawling mega city, as well as a growing industrial and financial center in the realm of the country.
The city of Gurgaon is ideally located at the outskirts of Delhi and is well equipped with infrastructure which is essential for the development in a city and to buy home in Gurgaon. Another important aspect which is responsible for enhanced demand in Gurgaon is its proximity to the international airport in Delhi.
Gurgaon flats are a hot property, be it the banks, which provide home finance, builders, who make bigger killing on selling a flat than plots or plotted property and last but not the least the tenants, who generally are from BPOs and join hands to rent a flat or an apartment. The big names in IT, software and BPO like IBM, Accenture, TCS, Microsoft, Oracle, Genpact, Convergys, IBM Daksh, WNS, and American Express have set-up their offices here. Apart from IT, software and BPOs there are many manufacturing industries operating here in Gurgaon.
If we talk about the flourishing regions, Gurgaon has emerged as a major investment hub in India as far as real estate is concerned. Undoubtedly, Gurgaon has show exemplary development in real estate sector which has propelled similar growth in other regions too.
Property in Gurgaon, ask property dealers, has all kinds of ranges to suit all the budgets.
To satisfy the rising demand of properties, many renowned real estate developers have made initiatives for the construction of new projects which consist of both middle and high-end budget projects at MG Road, Sohna Road, Golf Course Road and Old Gurgaon Road. Seeing the ongoing real estate trends, a number of property developers have lined up to bring frenetic developments in the booming Gurgaon. Prominent names in Indian real estate such as DLF, Omaxe, and Unitech have already exemplified their potential by transforming Gurgaon from a sleepy town on the suburbs of Delhi into a cyber city of Haryana. This provides property buyers’, both the domestic and overseas the best time to invest in Gurgaon properties.
More than 10,000 new luxury flats will make their appearance over the next two years in Gurgaon. Indian real estate giants like DLF, EMAAR MGF and the likes are coming up with their new mega residential projects that are all set to give an added fill-up to the scenario of property in Gurgaon.
Properties in peripheral locations in Gurgaon like DLF Phase-1, Sushant Lok, Sector 1, 2, 3, 4, and 5 are seeing fair appreciation in values. Apart from commercial properties and residential segments, retail sector in Gurgaon is also making raid strides in the wake of already established and upcoming glitzy shopping malls.
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Commercial Property
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Massive infrastructural activities have given a big face-lift to the region and thereby leading the Gurgaon commercial properties high on the real estate appreciation map in India.
A recent market study on commercial property cost in Gurgaon revealed that Commercial property cost per square foot in Gurgaon during the early period of the second part of 2009 is approximately Rs. 4,400. If it is premium commercial property at the high-end areas, it could go up to Rs. 10,500 per square foot.
Plots suitable for commercial premises developments in the prime locations have been found to be of around Rs. 6,000 per square foot. For apartment units, the estimate shows that the average cost hovers around Rs. 90 lac. For land plots suitable for commercial development, the price has been found to be around Rs. 1.5 crore.
Commercial spots such as Udyog Vihar, IMT Manesar, Pace City, Info City, etc. are great attractions for property sale and purchase in Gurgaon. Another location for premium structures is golf course road. Gurgaon has emerged to be the hub of major companies and BPO's in the northern part of the country. With the arrival of the top-notch MNC's and Fortune 50 companies such as Pepsi, Genpact, Genesys Telecommunications, Ranbaxy, Coca Cola, HP, Nokia, etc., the demand of commercial space in Gurgaon has gone up significantly over the past few years.
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