Touted as the millennium city of India- Gurgaon or Gurugram is a dream real estate investment destination for millions of people living in the NCR region. Due to well-developed infrastructure, smooth connectivity and presence of top-notch MNCs and IT/ITes companies, the city is the hub for many professionals.
Witnessing rapid urbanisation, Gurgaon has become a leading financial and industrial hub with more than 250 Fortune 500 companies. Because of a good commercial background, the real estate prices in the city have increased too many folds in the last two decades.
Take a look at various reasons to invest in Gurgaon Property market:
Roadways: The major highway that links Gurgaon to other NCR areas is National Highway 48, the road that runs from Delhi to Mumbai. While the 27.7-kilometre Delhi-Gurgaon border-Kherki Dhaula stretch has been developed as an expressway, the rest is expanded to six lanes.
Metro connectivity: Gurgaon is the only city which boasts two major transit services- Delhi Metro and Rapid Metro. While Delhi Metro served by Delhi Metro Rail Corporation Ltd. located on the Yellow Line run through 5 stations namely HUDA City Centre, IFFCO Chowk, MG Road, Sikanderpur and Guru Droncharya. Rapid metro has eleven stations in Gurgaon and covers a distance of 11.7 kilometers.
Airport: Gurgaon is served by Delhi’s Indira Gandhi International Airport, which is located near National Highway 8.
Economy and infrastructure
Gurgaon has the third-highest per capita income in India. The city is also the most rapidly growing industrial and information technology hub of the country. Many MNCs have set up their offices in Gurgaon creating an ample number of employment opportunities. This attracts a large number of working population to the city giving a great push to the city’s rental market.
Apart from the IT sector, many automobile manufacturing plants are also set up in Gurgaon. Some of them include Maruti Suzuki and Hero Honda. DLF, one of the renowned real estate company acquires vast stretches of land here.
Real estate market
In both residential and commercial sector, Gurgaon property market has taken a steep jump. While the office absorption rate is the highest in India, the residential real estate market is largely investor driven. As compared to other metro cities, properties in Gurgaon exist for every pocket size.
Talking about the residential real estate market, there are many sectors which in recent times which have attracted many home buyers. New areas like Sohna Road, Golf Course extension road, sector 68, 69, 55, 70, 113, 65 etc. have emerged as hot spot among property buyers.
Top residential hotspots in Gurgaon
Sohna: A popular tourist weekend destination, Sohna is also known as Greater Gurgaon and is becoming quite popular among home buyers due to the availability of large numbers of affordable homes. Situated in the foothills of Aravali, the area enjoys good connectivity to Gurgaon via Sohna Road. Proposed metro linkage and KMP expressway will further boost the connectivity of this area in future. Many renowned developers like Godrej and Supertech have already invested in this region.
New Gurgaon: One of the recent additions in the real estate market of Gurgaon, New Gurgaon enjoys seamless connectivity to other areas with three highways i.e. NH8, Kundli–Manesar–Palwal Expressway and Dwarka-Gurgaon Expressway, Railway Station, Airport, and the proposed ISBT. A majority of developers have already launched projects across various sectors of New Gurgaon, such as sectors 82, 83, 85, 91, 92 & 95A. Top realtors with presence in the area include Bestech, Vatika, Orris, DLF, KPDK Buildtech, 3C, Ansals, Ramprastha Builders etc. The area also boasts planned and well-developed infrastructure too with many schools, institutions, hospitals, and entertainment centers.
Sohna Road: Located within the vicinity of two major highways – Gurgaon Expressway (NH-8) and the upcoming Kundli-Manesar-Palwal (KMP) Expressway, Sohna Road is one of the most luxurious residential destinations of Gurgaon. Many prime realtors such as Omaxe, Raheja, Vatika, and BTTP, among others, have already developed high-end apartments, villas here. The average price of houses in Sohna Road is in the range of Rs 7,350 to Rs 7,439 per square feet. It means a 1 BHK flat will cost Rs 20-47 lakh, on the other hand, a 3 BHK flat will cost around Rs 81 lakh-Rs 2 crores.
Golf Course Extension: Another luxurious residential investment destination in Gurgaon is Golf Course Extension Road. The locality is well connected to NH8 and just a half hour drive from IGI airport. Golf Course Extension Road starts from Sector 55 and links up to Sector 66. Presence of Rapid metro has further enhanced the connectivity of this locality. Presence of top builders like IREO and M3M along with their premium ready to move in villas and flats has attracted many people to invest here. Price range in the area is between Rs 7,000-20,000 per sq ft.
Property Price and trend
In the past two decades, the real estate prices in the city have increased too many folds. Young professionals from different parts of the country have shifted their base in Gurgaon for good job opportunities.
So, with the plethora of civic amenities like healthcare facilities, colleges, hospitals and schools in its vicinity, Gurgaon caters the splendid lifestyle to its homebuyers and hence is considered as a best real estate investment destination.