Property market in Gurgaon is once again reaching sky-high levels. Earlier, real estate in Gurgaon was thought to be an unorganized market dominated by regional players. But, the things have changed now. The sector is increasingly being looked upon as to be peopled by renowned developers and managed by professionals.
The real estate in Gurgaon is surging strongly. Its improving infrastructure, business environment, coupled with the growing income and changing lifestyle of the residents are the factors encouraging real estate developers to bring more and more frenetic developments in this fast flourishing cyber city.
With Gurgaon being recognized as a major hub of numerous MNC's setting up bases here, there is no scarcity of funds. Surprisingly, Gurgaon is standing as a city offering high returns on property investments on hand. Roll eyes in either direction or whether talk about commercial or residential real estate, you will see development taking place at their fullest. With the demand for housing spiraling up as never before, it is the right time for making investments in the residential segment. Gurgaon real estate offers buyers' market right now, both for domestic and international property enthusiasts, especially Non Resident Indians (NRIs) who are keen on making investments here.
Foreign investments in Gurgaon promises high return on investments, as FDI policies in India are among the most liberal and attractive in emerging economies. So, invest in Gurgaon properties, and add a progressive city into your overall investment profile.
Appreciations
As a private enterprise developed city, Gurgaon has always been topped the chart on real estate values. Land rates in Gurgaon are already going through the rooftop and they are to increase further as the city continues to expand. However, land still remains an attractive investment option that could come by for investors. Property in central areas of Gurgaon is seeing fair appreciation. It has seldom chances to multiply over the next several years.
As such, Gurgaon is offering excellent prospects to set up business establishments and residing in a well designed and developed city. And needless to say, the real estate investment is certain to offer high returns. DLF, Unitech, Omaxe, and other prominent builders have however lived up to the commitments they have made to transform Gurgaon into a cyber city.
Commercial spaces in Gurgaon are also available in a number of A class buildings featuring an array of top notch infrastructure facilities such as broadband internet, ample parking space, 24x 7 power supply, water, tight security, etc. To avail all the mentioned features, scout the commercial space in buildings like Signature Tower, Business Global Park, JMD Tower, DLF Cyber Park, Pacific Square, Paras Downtown, Augusta Point, MPD Tower, Millennium Plaza, Galaxy Towers, Senior Plaza, Vatika Triangle, First India Place and many more.
Development of several SEZs will give a further impetus to Gurgaon real estate thereby turning the city into a competitive IT centre. Subsequently, property rates at Gurgaon are high and at par with some of the high priced metros in India.
Another round of escalation of prices cannot be ruled out seeing the establishment of world class industries and software giants to set up substantial presence. With a multitude of skyscrapers set to dot the skyline, the time is not far way when Gurgaon will be known as a 'city of skyscrapers'.
NRI Trends in Gurgaon
Gurgaon is soon to become a home to exclusive skyscraper buildings. The aim of such a venture is to work out concept of self-sufficient neighborhoods, complete with work-live-play environment, incorporating the latest state of the art technology in terms of technical know-how, convenience and comfort on the housing front especially for high middle class and the NRIs retiring back to the country. More and more real estate projects taking concrete shape, land values in Gurgaon have seen a sharp rise in prices.
Moreover, Haryana government plans to add the Gurgaon into skyscraper map of the world, indeed, right on top of the heap. The state government hastened its seat belt to complete the construction of a world class Golden Triangle City Centre (GTCC) in sector 29, Gurgaon with four tallest buildings in the world. Each of the proposed skyscrapers would have140 floors, taller than Taipei 101 which is known to be the highest manmade structure on the planet.
This would-be maximum city has exclusive infrastructure facilities as far as road and rail connectivity, well developed industrial estates, good banking facilities, steady communication network, technical institutes and developed commercial markets are concerned. Special attention is given on planned infrastructure development and providing eco-friendly surroundings for a better and healthy living.
Gurgaon is already saturated as far as real estate development is concerned and property prices are rising constantly. With increasing IT base in the city, the personnel are exacting in their demand for residential segments, which certainly give a nice prospects for investments. Due to IT boom, rental returns have also shoot up. It is only a matter of time before the quality of construction, facilities, and infrastructure matches and surpasses that available in the metros.
Also, with a resurgence of production units in Gurgaon, people who have migrated out of the city are coming back and this has triggered a rise in the demand for residential sector. However, if you are planning about to make investments in Gurgaon residential -properties, the repatriation of sale proceeds is restricted to not more than two such properties as per the norms for NRIs/PIOs.
Gurgaon as a progressive city is no far behind in the retail sector. With more and more retail players entering the arena, the demand for retail space has also grown thereby boosting the Gurgaon's known mall culture. Therefore, the growth in Gurgaon real estate sector is likely to accelerate in time to come.
With Reserve Bank of India relaxing the rules and regulations for NRIs, it has been made easy for them to rent out their immovable property in India without seeking any prior permission from the central bank.
NRIs have been granted a blanket of permission to buy property in India for their residential and commercial purposes. Also, there is no cap on the number of quality investments can be made in real estate.
Today well known builders like Vatika, Omaxe, Unitech, DLF, and Ambience to name a few are taking on giant projects of their own that primarily focus on the high middle population of Gurgaon. With heightened demand of Gurgaon real estate, the market is on a roll. So, reap the benefits soon without missing a single opportunity
Subscribe to:
Post Comments (Atom)
1 comment:
The current global economic crash has affected one and all. Most of the industries are bearing the consequences of this massive economic slump. Countries like India that have seen unprecedented commercial and industrial growth in the last decade or so primarily due to the blooming of the IT sector and outsourcing have also been deeply affected by the global inflation and recession. Apart from the four metros, growth and development also touched other cities like Bangalore, Hyderabad and the four NCRs (National Capital Region) primarily Gurgaon and Noida. The latter two cities are no less than metros with excellent connectivity, admirable infrastructural growth and development and the presence of world famous companies and MNCs. Being near to the Capital also proved to be a definite advantage. The growth of business also meant the related and proportionate growth of the hospitality industry in these cities. Gurgaon being one of the first NCRs to be developed, most of the major hospitality groups have hotels in Gurgaon. Gurgaon being primarily a business hub, there are also exclusive business hotels in Gurgaon with all the modern and necessary business features like Wi-fi connectivity, conference halls, meeting rooms etc. However, with inflation and recession coming in, business suffered and so did the hospitality market. The occupancy rates fell drastically in certain cities. To tackle this dull spell, most of the hospitality giants are taking up alternative hospitality methods to churn out revenues like residential hotels, destination resorts, condo hotels, vacation ownership and private residents club. Important names in the hospitality industry are opening up apartments and some of the above mentioned properties in addition to their budget hotesl in Gurgaon in order to generate revenues. These steps are also adopted by the hospitality sector for other important places and cities of the country.
Post a Comment