The Gurgaon has always been an attractive real property investment destination in Delhi-NCR and the popularity of it is increasing significantly with each passing year. It is the fastest growing residential and industrial hub offering the best connectivity, infrastructure, and optimal per capita income to its residents and attracting buyers from all around the globe. All types of construction, whether residential or industrial, are experiencing an enormous surge in demand because of the growing interest of the super-rich and the fast-emerging millennial population.
Let’s take a look at some of the major factors that will drive real estate market in gurgaon –
1) BIGGEST FINANCIAL AND TECHNOLOGY HUB
Gurgaon has become one of the most significant commercial and technology hubs in India, drawing in organizations of all sizes that offer new jobs. The majority of India’s largest organisations, startup businesses, and more than two hundred and fifty Fortune 500 firms all have offices in Gurgaon, which positively impacts the commercial real estate sector, and this boosts the residential property market in many of the areas of Gurgaon.
2) Broader Choices in Residential Properties
Gurgaon has seen a significant increase in the quantity of major multinational corporations in recent years, attracting professionals from around the country. This has motivated the developers to construct many residential properties in Gurgaon; to avoid the daily traffic jams, increasing violence, and air and noise pollution in Delhi, residents of Old Delhi also prefer to live in Gurgaon. With the considerable growth in Gurgaon, there are many new projects being curently developed in Gurgaon.
3) Good Return on Investment
The residential real estate market in Delhi NCR experienced an annual increase in housing costs of 10% in the second quarter of 2022, as per the Housing Price Tracker Report. The most substantial increase in value was witnessed on the upscale Golf Course Road in Gurugram, which saw prices spike by 21% YoY, stated the report. In the New Gurgaon region, there was a 27% increase in average plot prices; the price of land increased from Rs 7,500 per sq ft in 2019 to Rs 9,500 per sq ft in the second half of 2022. Good ROI is likely to drive real esate market in future also.
4) High Rental Value
Gurgaon, as an IT hub, attracts engineers and other professionals from all over the country, who usually relocate to the city and search for rental homes with good amenities and facilities. Therefore, finding a tenant in this city is not a difficult task, and the additional benefit of investing in this city is that they are willing to pay a higher rent if the home is equipped with world-class facilities that meet the high standards of living they have been looking for. Buying a residential property like 2 or 3 BHK apartments in Gurgaon and leasing it out can not only fetch you regular income but also promise healthy returns on investment.
5) Good Social Infrastructure
The city of Gurgaon is known for its social infrastructure, which is one of the primary reasons why so many people are choosing to buy homes there at the moment. From the outside looking in, it may not seem like it, but the city has a lot more to offer than what you would expect. People who like travelling and eating in opulent environments will find that Gurgaon is the perfect location for them.
Nightclubs, lounges, pubs, restaurants, and shopping complexes that are considered to be among the best in the nation can be found in Gurgaon. You can blow off some steam and enjoy the evening with your colleagues or loved ones if you have had a particularly difficult day at work.