subject: Demand of Gurgaon Property growing rapidly [print this page] Demand of Gurgaon Property growing rapidly
The extensive skyscrapers, infrastructure and rising communications has made Gurgaon property market as one of the best places for the investment in the property. The property price in Gurgaon is growing continuously due to booming of IT sectors and the business hub. The commercial property is really on very high demand now these days. The commercial properties in Gurgaon have grabbed the attention due to its estate boom. The place is housing to diverse world class malls due to availability of ample spaces that is required for corporate industry and its connectivity to Delhi. Facts on Prices in Gurgaon The cost of property investment has increased as the interest rates are on the higher side. For long term investors, the present scenario of Gurgaon property prices is highly lucrative. In fact, the property investment returns within a year are almost non-existent. The revision of collector rates also causes the hike of property prices in Gurgaon. The circle rates revised by the Gurgaon District Administration have caused quantum leaps in the rates of New Residential Zones (NRZ) of Gurgaon. Even though the revision of the circle rates of properties other than the ones located in the NRZ (New Residential Zones) of Gurgaon has slowed the rate of increase of prices but the land owners or the farmers who own the cultivable land receive the maximum benefits. Aside commercial real estate developments, residential real estate did not remain offended to this boom. Nowadays, a number of residential apartments are available that bring class and provide options that have completely changed the definition of Gurgaon real estate. Residential apartments, villas and town ships have made keeping in mind professional who wish to live away from the commotion of city life. And if we talk about residential property in Gurgaon, it fall mainly under two segments. In the first place, it is the segment which houses corporate clients and other upper class clientele. The residential property in this segment is not cheap. The luxury flats, deluxe apartments, condominiums, villas, etc. with five star amenities come in this class and they cost excessively higher than their counterparts of the same dimensions in the segment which houses the middle class. A demographic analysis has revealed that nearly 70% of the citizenry live in average middle class residences and in that category the property price is comparatively cheap. Being a NCR city and easy accessibility to Delhi, the prices of real estate in Gurgaon is skyrocketing. Moreover, emergence of IT and ITES companies has also thrown the city to real estate developments.
