subject: Route to Real Estate Development in Gurgaon [print this page] Route to Real Estate Development in Gurgaon
Gurgaon is the fastest developing city in India that transformed into an IT destination from being a sleepy town for ages. From a place no one had heard about, it has today become an outsourcing and off-shoring hub of the country. Real estate in Gurgaon is the most sought after since its proximity to Delhi and world class infrastructure attract both property investors and developers.
The commercial developments in Gurgaon took on a supersonic speed as property developers as well as corporate honchos found immense potential in its realty sector. With more and more industries taking interest in setting up operations in the newly found city, real estate in Gurgaon developed exponentially. With structuring of world class offices across the area emerged the need to accommodate the manpower working in them. As a result, residential property in Gurgaon happened to evolve in all forms i.e. from apartments, flats in Gurgaon, independent houses and duplexes to integrated townships. It seemed like a whole city under construction and property investors started taking deep interest in Gurgaon realty sector.
Consequently, as more and more number of professionals began settling in the city, it became important to cater to their recreation and entertainment needs. This led to mushrooming of shopping malls, multiplexes and other retail developments, giving a big boost to Gurgaon retail realty. From industrial to housing to retail segments, all flourished one by one making Gurgaon the ultimate real estate destination. A horde of property investors could be seen lining up to pump in their money in the highly profitable sector. It soon grabbed the top place as a realty hub around Delhi with international level living standards and skyscrapers. It has proved to be a perfect model for conversion of a long neglected town into a world class city.
The trajectory followed by Gurgaon for property growth has been the same for other cities and towns as well but the pace at which it developed is unprecedented. The entire spectrum of the property market kept multiplying while creating new benchmarks. This started attracting developers from all around the country resulting in large investment projects by leading private players. With more and more builders coming in, investors began to eye Gurgaon property and pumped in huge amounts of money encouraging developments further. The demand for property began to increase with both industries and people asking for more constructions in commercial and residential sectors. Since even the prompt supply could not meet the gargantuan demand, the land shortage became evident. Sequentially, the property prices fuelled up and have today sky rocketed coming in line with Delhi real estate prices.
Indian real estate has developed on a whole in last five years and some of the key reasons for the boom are the following:
-Steady IT expansion and developments
-Adoption of FDI (Foreign Direct Investment) Policy
-Easy access to property loans
-Fast growth in Indian economy
All the above factors combined together concluded the rapid development in Indian real estate. From metro and tier- III & IV cities to towns and suburbs, every area is growing awaiting its metamorphosis into a global standard city, following in the footsteps of Gurgaon realty. This step by step analysis exhibits how property boom can help grow an entire city and then cities can fuel up the national growth.
Residential property in Gurgaon offers luxurious living equipped with modern amenities amidst lush green environs and is well connected to the nearby areas. The commercial properties boast of the global finesse and standards while retail spaces offer a great shopping and movie watching experience. What else can one ask for!
