Highrise city Gurgaon witnesses increase in properties

Delhi-NCR realty market is currently passing through a transition stage, after terribly being affected by the economic slowdown; it is now showing off signs of improvement. A sudden increase in the number of property dealings has been observed in the recent quarters. And even the prices of properties in Delhi-NCR have been rising in the past few years.

Consequently, the high prices of properties in the various areas and the shortage of properties in Delhi have increased the demand for properties in the suburban areas. Also developers identified buyers? interest in suburbs and came up with a number of real estate projects in the areas such as Noida and Gurgaon.

Gurgaon attracts investments

Gurgaon developed as one of the prime real estate hub and till now, it has always been a hot destination to investors. Even at situations when real estate had been lying low in other parts of the nation, ample real estate activities happened in Gurgaon. It is basically an investor-driven market and experts say that the investment made in this city does not get wasted.

Delhi slows down

Although real estate in NCR seems to be going good, owing to land scarcity and high prices, Delhi real estate has been turning low in the recent past. Real estate analysts point out that the properties in Gurgaon and Noida are witnessing good hike compared to that of the National Capital Territory (NCT). This is evident that buyers and investors are heading towards these destinations for real estate investment.

Real estate development

Gurgaon has acquired a very strong position for itself as a major residential, commercial, industrial and retail hub in India. Within a short period of time, properties in Gurgaon have been fetching grand profits as the demand has always remained persistent in the city.

Residential projects:
Some of the prime gated communities in Gurgaon include DLF Park Place, DLF Magnolias, SARE Petioles, Raisina Residency, Primanti, Nirvana County, The Palm Drive, The Grand Arch, Vatika City, Supertech Araville, Sun City, Mount Ville, Kalistaa, Revanta, etc.

Key developers:
DLF Limited, Raheja Developers, Tata Housing, Unitech Group, Ansal API, Adani, Godrej, BPTP, IREO, M3M, MGF Emaar, Hines, Orris Infrastructure, Assotech Ltd, Supertech, etc. are some of the leading developers in Gurgaon.

Key areas for investment:
Dwarka-Gurgaon Expressway, Golf Course Road, Golf Course Extension Road, NH-8, Sohna Road, Southern Peripheral Road and the surrounding areas are considered to be important areas for realty investment.

Positive aspects of Gurgaon realty

The major factors driving growth in Gurgaon is its close proximity to Delhi, excellent connectivity and its attractive infrastructure.

Another important aspect of Gurgaon property market is that it caters to all the target audience segments as it offers properties ranging from one bedroom flats to luxury villas and penthouses. Most of the developers foraying Gurgaon market have been bringing forth more and more new projects.

Though the apartments in Gurgaon are priced on the higher side, they have been equally compensated by the amenities and facilities provided to the residents.

Industrial development

The Millennium City is in vicinity of many prime industrial hubs like IMT Manesar, Roj Ka Meo, etc. The proposed 1,483 km-long Delhi-Mumbai Industrial Corridor (DMIC), a mega infrastructure project and its industrial estates, along with the KMP corridor is coming up in Sohna Road. This prime vast industrial corridor will definitely add to the value of investments in the surrounding region.

Retail growth

Enormous growth has been recorded in commercial and retail sectors in Gurgaon. Gurgaon houses 43 shopping malls, including the famous ?Mall of India?. The city stands third among the cities having highest number of malls.

At present, builders are not showing much interest in developing new malls in Gurgaon. They are not ready to risk their investment by building malls as the lease model is being followed in the recent times which curbs quick returns.

Lack of quality infrastructure in the surroundings of existing malls, lack of parking space, traffic issues, etc have led to certain challenges in mall management. For example, when there is a downpour, Mall Mile in MG Road starts getting flooded.

Major issues

Gurgaon still lacks comprehensive infrastructure, proper sidewalks, public parks, convenience stores, etc. New Gurgaon lacks basic facilities like bus stand, public hospitals, schools, regular water supply, and others.

Water is not a big issue in most parts of Gurgaon but electricity is a major concern. Though the city has been successful in distributing electricity connections to all its households, frequent power cuts in the city along with low voltage problems is the major problem for the residents. Summers are worse in Gurgaon as power and water issues get worse.

What future holds for Gurgaon?

The Millennium City which already houses over 1,100 high rises is expected to get an additional of 1500 multi-storey towers by 2018. During 2008 to 2012, several developers have acquired licenses for projects under the new master plan, among which around 95 percent include multi-storey apartments.

The new master plan of Gurgaon gives hope to investors on better connectivity and lifestyle features of the city. Provisions have been made in these areas for superior infrastructure development projects with wider roads, Metro connectivity, parks, sufficient parking spaces, along with a good combination of commercial and residential mix of projects. A Bus Rapid Transit (BRT) corridor has also been proposed which would decongest traffic on the Northern Peripheral Road (NPR).

Upcoming projects like Dwarka-Gurgaon Expressway, the Western and Eastern Peripheral Expressway, Metro link up to HUDA City Centre, among others will further boost Gurgaona??s connectivity.

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Source: http://www.commonfloor.com/guide/highrise-city-gurgaon-witnesses-increase-in-properties-27577.html

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