
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.