The city of Gurgaon is witnessing a planned development in the residential real estate segment with several new luxury projects lined up in the region. In fact, it will not be wrong to say that Gurgaon region is seeing a new wave of Luxury apartments by several renowned and reputed developers such as International land Developers, Raheja Developers, etc. Here are the prominent reasons leading to increased activity in the high end residential segment in this region –
The city of Gurgaon is in close proximity to Delhi and is therefore the most preferred home buying destination of the people staying in this metropolitan town. This is because central Delhi is highly congested and has reached the saturation point with barely any construction taking place in the city center. Plus, the cost of housing is sky rocketing and even the rental values are touching 6 figure mark in the prominent locations. This has prompted more and more buyers to move towards Gurgaon city.
Gurgaon is much cheaper as compared to Delhi
Even the prominent luxury projects such as ILD Arete Sohna in Gurgaon city are much cheaper as compared to the affordable homes in Delhi city center. And therefore these offer great returns on investment both in terms of capital appreciation as well as rental values. This has made Gurgaon the most preferred realty destination for middle as well as high income group.
The cost of homes in New Delhi is only going to grow unaffordable by the day, as there is intense competition amongst the ultra-high net worth individuals (UHNNI) to occupy the prominent residential homes. In fact, the capital of India is now home to more number of super-rich individuals than Seoul, Shanghai and Singapore.
Well connected to Delhi, Haryana and Uttar Pradesh
The other important reason for new wave of luxury apartments in this region is its excellent connectivity to other states and cities of India. It is well connected to Delhi, Uttar Pradesh and other cities of Haryana making it a viable investment destination. Transportation facility in the area is excellent and it is only going to get better with the upcoming metro rail project.
The Gurgaon region is witnessing increased commercial activity
The strategic location and cost factor have given an added advantage to Gurgaon city. Several IT, ITES, Financial institutes, Logistic and E-Commerce firms have opened their offices for the first time in the city. As per the current estimates, this region has more than 250 commercial offices and is generating huge number of employment. This has led to steep rise for the demand in housing sector, with most people opting for rental accommodation in well maintained high society offering world class amenities.
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