Lately, Gurgaon has witnessed a surge in construction activities and investment in the real estate sector. A number of eminent companies have come up with residential and commercial properties. This is the result of the high demand for properties in Gurugram. Property in Gurgaon is a lucrative financial asset for investors as they can fetch high returns in the future. This is because Gurgaon is a coveted location for both residential and commercial purposes. Being a part of the NCR, it is a prime locality with advanced infrastructure.
Top Builders in Gurgaon
Gurugram is one of the important commercial hubs in India, offering lucrative prospects in the sector. As a result, the commercial or retails spaces naturally have a high demand due as people want to launch start-ups or expand their existing business to Gurgaon. The well-developed infrastructure, together with the business and job opportunities has led to the growth of Gurugram as a residential hub. People from different cities have also migrated in and settled in this city. To fulfil this growing demand, various leading real-estate developers have chosen to develop residential property in Gurgaon. These companies have a good track record of development quality and are attracting more property buyers to this city.
The formation of RERA was an important change in the real estate industry in India. Aimed at safeguarding the builders’ as well as investors’ interests, this organization has been doing a good job at maintaining stability in the real estate sector. Properties in Gurgaon come under HRERA (Haryana Real Estate Regulatory Authority). The regulatory measures taken to protect property buyers have helped them to be more confident in investing. On the other hand, the developers are now showing greater interest to build properties in Gurugram, with HRERA looking after their interests as well.
Commercial Real Estate Market
People looking forward to buying a new commercial property in the NCR tend to choose Gurgaon as their location. This is because of the excellent infrastructure that helps in the growth of the commercial sector. The city not only has a well-developed transportation network that saves a lot of time, but it also comes with several business hubs and modern office complexes. Commercial property in Gurgaon offers the corporate environment necessary for companies to grow well and create a good image of them. Gurugram is a major residential hub, there is a good market for various goods and services that promotes the growth of most retails launched here. These are the prime factors for the growth of the commercial real estate market in this city.
Residential and Commercial Real Estate in Gurgaon after 5 Years
The real estate industry is in Gurugram is developing at a fast pace. The city is expected to witness excellent development within the next 5 years. With the price of property increasing, investors who buy properties now will be able to sell them off for a high profit after a few years. The infrastructure in Gurgaon is likely to develop further, making it even more alluring for the property buyers. Both the commercial and residential real estate are expected to develop rapidly during this period.
Top Locations in Gurgaon
Some of the localities in Gurgaon are known for a very high demand for properties due to their strategic location. Some of these localities are Golf Course Road, Golf Course Extension Road and Dwarka Expressway. The Golf Course Road and the Golf Course Extension Road are known to be luxurious neighbourhoods with high-end residential complexes.
This region is mostly inhabited by people who prefer an aristocratic lifestyle and offers luxury apartments and even penthouses. A 50-metre wide green belt has been planned for development near Golf Course Extension Road. The Dwarka Expressway offers excellent connectivity features and the region is a major business hub. Various commercial properties offering retail space, service apartments have been launched here for the top-notch infrastructure and quick transport.
Lifestyle and Culture
Gurugram has got a cosmopolitan population. People from various economic backgrounds live in this city, which offers suitable facilities for all classes. The city also offers an energetic lifestyle with various entertainment and recreational venues. A large number of bars, clubs, cinema halls and restaurants have come up in the city in recent years. This is another factor that has contributed greatly to the high demand of for flats in Gurgaon.
The well-planned and interconnected network of roadways, the railway and the metro railway ensure a quick commute in Gurugram. The public transport system is quite efficient and offers a reliable service. This helps to save a lot of time for office goers, and also helps various businesses function seamlessly.
When you buy a property in Gurgaon, you wouldn’t have to worry about delays in possession. Most of the developers who build these properties are known for timely delivery of projects. This has earned them goodwill that attracts more buyers for these properties.
One of the key factors behind the growth of the residential real estate in Gurugram is the advanced social infrastructure one can enjoy in this city. The healthcare sector here is quite efficient with many reputed hospitals. Schools, banks, shopping malls, etc. have been built all across Gurgaon, such that most of the residential regions enjoy a good infrastructure.
Economy and Industrial Growth
The infrastructure and prospects have attracted several companies from around the world to expand their business here. Known as ‘Cyber City’, Gurugram houses several IT companies. This has generated tremendous job opportunities for the people living in Gurgaon. As discussed earlier, the commercial sector has also flourished well, which has contributed to the economic growth here. Gurugram has the third-highest per capita income among the Indian cities, which shows the economic development in the city.
Future of Real Estate in Gurgaon
The development of real estate in Gurgaon is quite impressive. With more and more investors cashing in on the real estate projects, the industry is growing at a good pace. The locality is becoming increasingly popular among property buyers. The real estate sector in Gurgaon has a bright future ahead.