Gurgaon: The Most Attractive Property Destination In NCR

Regarded as the next investment hotspot in Delhi NCR, Gurgaon’s real estate market is currently witnessing a boom owing to enhanced connectivity and fast-paced infrastructure development. Backed by competitively priced inventory, improving infrastructure and presence of reputed builders, Gurgaon is fast emerging as a preferred housing destination among potential homebuyers and investors. The entire scene of commercial development in Gurgaon is huge and thus, a great advantage for investors and business owners seeking quality infrastructure, modern designs, and high yielding properties.

Location and Connectivity

Apart from Gurgaon’s economic activity, it has practical advantages from other parts of the city. The biggest benefit of this city is its ability to link, via Delhi Metro and Rapid Metro System. In addition, it has standard private shuttles and bus routes that provide transport from to and from the city’s airport. Further, you’ll get seamless connectivity in the form of metro services, proximity to NH-8, and availability of an entire array of social amenities. These are some of the factors that are attracting property investments from across the board. Gurgaon city has a perfect location with proximity to airport and eight-lane expressway connectivity with capital. Upcoming Western Expressway is expected to boost the property market further by connecting Gurgaon with Faridabad, Sonipat, Noida and Ghaziabad.

Infrastructure and Civic Amenities

The infrastructure push to Gurgaon’s development will be the litigation-free 18-km Dwarka Expressway, which will provide a much-needed alternative connectivity between Delhi and Gurgaon. The under-construction 16-lane, signal-free Gurgaon Expressway and Phase 2 of the Rapid Metro Rail Gurgaon on Golf Course Road are other important infrastructure initiatives that will impact the real estate scenario in Gurgaon’s corridors. Certain residential corridors within Gurgaon will benefit from the incremental office supply and infrastructure development. New Gurgaon is positioned to emerge as a relatively affordable residential catchment within Gurgaon. The Southern Peripheral Road and the Dwarka Expressway are two prominent infrastructures coming up in Gurgaon. Multiple flyovers and underpasses are being constructed at congested crossings such as Vatika Chowk, Sohna Road, Rajiv Chowk, etc. The key parks in Gurgaon are the Aravali Biodiversity Park, Leisure Valley Park in Sector 29, Tau Devi Lal Biodiversity Botanical Garden in Sector 52, Netaji Subhash Chandra Bose Park in Sector 14 and Tau Devi Lal Park in Sector 23. Thanks to the uninterrupted services from the local civic bodies and government-run agencies like HUDA, Gurgaon gets facilities like seamless electricity, high-speed mobile networks, wide roads, and clean neighbourhood. It is because of these reasons the city has become a choice for both commercials as well as residential properties in Gurgaon.

Education and Healthcare

Leading health care provider institutes in Gurgaon include Fortis Hospital, Medanta, Artemis and Max Hospital. Gurgaon has become an increasingly popular destination for medical tourism. The government, and more prominently, the private schools in Gurgaon provide good facilities in terms of infrastructure, recreation and quality of education. There are many schools in Gurgaon, such as The Shriram School, The Heritage School, various branches of The Delhi Public School, The Shiv Nadar School, Pathways, Goenkas, Scottish High, St Xavier’s, the list is exhaustive. With state-of-the-art infrastructure, more than 30 educational institutes MDI Gurgaon, ITM, Amity University, Gurugram University, KR Mangalam University, Ansal University etc; and a wide assortment of professional courses being offered at a cheaper cost – Gurgaon has rightfully earned a berth in the hallowed list of hot education destinations.

Business Hub and Job Opportunities

Gurugram, the second biggest technology hub in India, has also emerged as one of the top five Asian IT- and innovation-hubs due to ease in doing business, good business environment, and growth-supportive cost and availability of office space. There are plethora of multinational companies showing their interest in Gurgaon real estate given the fact that it’s a major IT hub of India. Further, businesses are also thriving and many domestic industries have established their base in this city. The popularity of Gurgaon as a major real estate investment destination can be seen by the fact that all major real estate players such as Indiabulls, Unitech, DLF, Godrej Properties and Tata Housing have commercial project here. Coca-Cola, Pepsi, IBM, American Express, Agilent Technologies, Microsoft, and Bank of America are a few to name fortune 500 companies who have chosen Gurgaon to be their Indian corporate headquarters. Few start-ups that have now evolved into bigwigs such as Zomato, Quikr etc. are also born out of Gurgaon resulting in more job opportunities.

Social Factors and Lifestyle

There are over 40 malls spread all over Gurgaon with cinema halls, restaurants and international brands. Gurgaon also has plenty of fine-dining restaurants — standalone cafes and hotels — late-night dhabas, quiet coffee places, superb bakeries etc. where you can order some food and sit back while a Jimi Hendrix concert plays on the big screen. There is culture, too, with venues like Epicentre hosting some of the best theatre groups in India. Gurgaon has stretches which are quite cosmopolitan and hence the crime rate is low. Also gated colonies and condominiums are make the city safer. Gurgaon is also full of major international retail and international brands. And, weekends see an array of cultural events happening across the city. Malls, multiplexes, fancy restaurants, and big hotels; are all sign of a growing city.

Key Policy Initiatives

The market in Gurugram is now witnessing the positive effects of the implementation of Real Estate (Regulation and Development) Act, 2016 (RERA). The launch of Real Estate Investment Trusts (REIT) is expected to improve liquidity in the sector. Benami Property Act prevents Benami transactions and gives for the appropriation of such properties. Only GST registered players are eligible for Input Tax Credit. If builders do not pass on the benefit from Input Tax Credit to consumers, it could invite inquiry by the National Anti-Profiteering Authority. To improve the revenue generation capacity of real estate industry in Haryana, government has increased the Floor Area Ratio (FAR). This will lead fulfilment of existing housing demands as well as the creation of new housing demands resulting in an increased supply of real estate. Improving infrastructure in the city, ease of access and stable circle rates have encouraged land investment and contributed to the increase in stamp duty collections.

Returns on Investment

The escalating prices of property in other regions have made people move to Gurgaon because the city is a good market for reasonably priced housing with high-quality infrastructure and it yields the highest returns on investment with a predictable average annual appreciation of 10 to 15%. An added benefit of investing in commercial properties in Gurgaon is that builders are offering smaller units which allows the investors with low budget to invest in a good market. With more office spaces coming up in the city, the demand for properties on rent and outright purchase, is expected to increase.

Bright Prospects of Rapid Growth

Gurugram has been the favoured destination for mid and upper ticket size housing units. The presence of corporate offices has added to this. The demand for housing is not just sustainable, but is also increasing. New Gurugram has emerged as a preferred choice for buyers in the last few years. The area is strategically located between Manesar, Gurugram, and Delhi with direct connectivity to NH-8. The spate of recent infrastructural developments, once completed, will further bolster connectivity. With the delays in the completion of the Dwarka Expressway almost resolved, the demand will see a further boost. In Gurugram, the realty investment hotspots are the areas where the Southern Peripheral Road and Northern Peripheral Road (as the Dwarka Expressway is also known) meet at NH-8 (sectors 99-112 and 37D, sectors 58-63, 68, 78-81, 84, and 85-86). Sohna Road, popularly known as ‘south Gurugram’, has emerged as a promising affordable housing destination in the city, due to its proximity to various business centres and industrial clusters. Backed by well-planned infrastructure. It is also well connected by NH 48 and houses many major commercial & tech parks.  The civic infrastructure has been developing rapidly over the last few years in Golf Course Road and Golf Course Extension Road.