Before we start examining the reasons why Gurgaon is the destination of choice for property buyers in the country, I must inform my readers that the term ‘real estate’ which I will be using throughout this article actually refers to the real worth of a property which includes not just the piece of land but also the air above it and the ground below.
Ever since Gurgaon was conceptualized as a suburb of Delhi in the late 70’s, this subcity has seen a constant appreciation of prices owing to its proximity to the capital city of Delhi. Of late in the year 2016, industry insiders believe that the city has received more speculative investment as compared to investment from real users which generally is the case in other cities of India.
Gurgaon: A real magnet for working professionals!
Overall demand figures for commercial property, apartments, flats, villas, shops, office spaces, plots, farm houses, builder floors remains robust and top players in the Gurgaon realty market have registered positive topline growth from their constructed properties in Gurgaon. But the overall picture is quite bright as the mid-segment is showing signs of positive growth and properties in other prime locations of Gurgaon like DLF-Phase 1, Sushant Lok, Sector 1, 2, 3, 4,5 are seeing positive appreciation in values.
What has added to Gurgaon’s appeal amongst end users is the fact that it is the hub of companies operating in the IT and IT-enabled services space and offers all possible amenities and open spaces to its residents. Abundance of good quality schools and considerable green cover has also escalated the demand for residential property in the mid-segment.
Favorable locational co-ordinates acting as a catalyst for growth
Gurgaon’s proximity to the international airport has led to a large number of mid-sized hotels and serviced apartment chains starting operations in the city which is a positive sign for the economy. Players who have invested heavily in the premium residential space are now reaping the rewards of their investments as the market which was down in 2011-12 has now picked up pace with the rapid metro, Dwarka expressway and kundli-manesar-palwal expressway, NH-10 and the old delhi-gurgaon expressway have helped decongest the traffic a lot.
Most industry analysts who have observed gurgaon’s realty market closely say that Gurgaon still remains their best bet for delivering high returns as compared to other upcoming cities in all developed nations also where infrastructure is saturated, population is low and price appreciation does not happen as fast as it has happened in the past thirty years in Gurgaon.