Gurgaon does not require a formal introduction. It is more popularly called as the commercial hub of India. Gurgaon places its name among the list of most developed cities of India, both in terms of IT and commerce. Being such a high tech city, it has seen some of the major upswings in almost most of the sectors, and among them, one is real estate. The commercial as well as the residential properties are catching up heights rapidly and that too on the regular basis.
The optimum position of the city and its close proximity to airport adds the commercial flavor in Gurgaon property and the same makes it unique from the other cities. The year 2010 brought up a positive note in the real estate market of India. Although, the demand of property has experienced a little slowdown as compared to what it was in 2009. Global recession also accounts as one of the factor which contributed to economic slowdown. Talking about current year, 2013 also has witnessed many cases of cancellation and postponement of commercial as well as residential projects. During the slump time, the scale for demand for commercial space was quite less. But, in the year 2010 office space in the Indian cities started to rise with the increase in cost price of residential and commercial properties and its rentals. According to the real estate experts, property in Gurgaon faced a sudden boom because it had faced a certain period of recession. This is the reason that why properties in Gurgaon are predicted to face a sudden rise by the end of the year.
On contrary to this, one of the most important facts that Gurgaon is still witnessing growth is the continuous upwards sloping property rates in the city. Due to high commercial settlement in this city, people are also interested in the residential property in Gurgaon. The setup of various industries and multinational companies in Gurgaon, has further contributed to the high rates of commercial properties. Such firms need good locations where they can set up their offices. This is the main reason for the price hike of the commercial property in Gurgaon. People from all over the country and also from other countries come and set up in the city in order to work in these companies. This has resulted in the increased demand of residential properties which includes flats and apartments. The rates of these properties are not that high, these are highly luxurious flats which are well facilitated with all the facilities available at various reasonable prices.
A much higher boom is expected in near future in the properties of Gurgaon. Various builders and constructors are in the pipeline to construct and promote their projects.
The optimum position of the city and its close proximity to airport adds the commercial flavor in Gurgaon property and the same makes it unique from the other cities. The year 2010 brought up a positive note in the real estate market of India. Although, the demand of property has experienced a little slowdown as compared to what it was in 2009. Global recession also accounts as one of the factor which contributed to economic slowdown. Talking about current year, 2013 also has witnessed many cases of cancellation and postponement of commercial as well as residential projects. During the slump time, the scale for demand for commercial space was quite less. But, in the year 2010 office space in the Indian cities started to rise with the increase in cost price of residential and commercial properties and its rentals. According to the real estate experts, property in Gurgaon faced a sudden boom because it had faced a certain period of recession. This is the reason that why properties in Gurgaon are predicted to face a sudden rise by the end of the year.
On contrary to this, one of the most important facts that Gurgaon is still witnessing growth is the continuous upwards sloping property rates in the city. Due to high commercial settlement in this city, people are also interested in the residential property in Gurgaon. The setup of various industries and multinational companies in Gurgaon, has further contributed to the high rates of commercial properties. Such firms need good locations where they can set up their offices. This is the main reason for the price hike of the commercial property in Gurgaon. People from all over the country and also from other countries come and set up in the city in order to work in these companies. This has resulted in the increased demand of residential properties which includes flats and apartments. The rates of these properties are not that high, these are highly luxurious flats which are well facilitated with all the facilities available at various reasonable prices.
A much higher boom is expected in near future in the properties of Gurgaon. Various builders and constructors are in the pipeline to construct and promote their projects.
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