Gurgaon

Amongst the four major satellite cities of Delhi, Gurgaon is one of the most sought after cities of the country. The city is just 10 kms away from Indira Gandhi International Airport, Delhi. Gurgaon is also the commercial and industrial hub of Haryana.

Few years ago, Gurgaon was like any other sleepy town on the outskirts of New Delhi. With the liberalization policy implemented in the Indian economy in 1990s, the potential of the Gurgaon was recognized. Haryana government took smart policy initiatives to promote Gurgaon at both the national and international level. Today, Gurgaon has become a role model for new age retail development in the country.

World renowned corporates be it IT, ITES, BPOs, Telecom, etc. have established their office premises in the city. Corporates such as Sapient, Accenture, Agilent, TCS, IBM, Microsoft, Google, etc. are based at Gurgaon. The prominence of various corporates in the city and government support has remarkably triggered the real estate demand.

As per estimates, one can expect the yield returns in residential property of around 5.5% - 7.5%, in commercial property 11% - 13% and in retail 11% - 13% per annum.

The real estate scenario in Gurgaon is characterized by various trends. Some of the core traits are enlisted below -

The Demand:
Gurgaon has earned a global recognition in relative to IT and ITES destination. The city is apt option for corporates and MNCs to meet their office establishment requirements. The property in the city has touched the unprecedented heights and Haryana Urban Development Authority is working in collaboration with several builders to meet the soaring demand.

There has been big demand of residential property in Gurgaon and to gratify the need large number of residential projects are being planned as well as undertaken.

Basis For Boom:
Real estate in Gurgaon is experiencing boom in both the demand and rates respectively. Since late 1990s, the real estate of the city is highly active be it residential, industrial or commercial. Today, city is dot by the skyscrapers and modern shopping malls. Some of the reasons for this upward trend in the real estate are as follows -

• Government support.
• Easy availability of interest rates.
• Increase in foreign direct investment.
• Extension of Metro project to the city.
• Large and spacious availability of land.
• Public and private partnership for urban development.
• Development in retail, entertainment and leisure sector that results in mall culture.