Why Property Investment in Gurgaon is a Good Option
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Gurgaon real estate is a land of retailers and the concept of ‘Specialty Mall’ is emerged from this city. Gurgaon’s real estate business is growing at a faster pace due to huge demand from IT/ITES companies. The greatest strengths of this city are its proximity to International airport in New Delhi and the national capital of India, New Delhi. There are large number of construction activities in Gurgaon by leading real estate players that include DLF, MGF, Vatika, Unitech, Ansals, and EMAAR in the form of commercial complexes, residential and offices. Gurgaon is a preferred destination of leading retailers like Mega Mall, Metropolitan Mall, DLF City Centre, Omaxe Wedding Mall, Ambi Mall and Vatika City Market that house the leading brands, cinema halls and theaters. Gurgaon real estate also provides a wide range of residential properties that includes condominiums, villas, apartments, independent floors, penthouses, duplexes and residential plots to both investors and buyers. There are a large number of hotels sprouting the city of Gurgaon and also the concept of service apartments and corporate guesthouses are also emerging in Gurgaon property market to cater to the young workforce and diplomats in the country. Currents market trends:- • The Gurgaon property market has witnessed a huge momentum in recent years in capital and rental values on Grade A office space due to its improved infrastructure and location advantages. •Over 50 percent of the total residential demand in the Gurgaon Real Estate market is from the middle income group and the rates are in the range of Rs. 2500 to Rs. 3500 per sq. ft and in the prime locations in the range of Rs.14, 000 per sq.ft. •The rental values in the Gurgaon property market is rising at an average of 10 percent in recent years and in the prime residential locations are increased by 30-35 percent •With boom in services sector and large income levels, a large number of people are demanding for quality accommodation being equipped with 24 hours power back up and water supply. Market Deals Client Building Name Area (SQ.FT.) Location Transaction Type HP IOA & IOC 60,000 DLF Cyber City Lease Virgin Global Business park 3000 MG Road Lease KPMG IOA & IOC 150,000 DLF Cyber City Lease MTV Times Tower 10,000 MG Road Lease Barclays Times Tower 13,000 MG Road Lease Commercial Real Estate The city is witnessing a huge demand for high end residential property projects in the range of $2.5 million. There are 10 mega projects are under completion between 2007 and 2009. The leading realty players like DLF and Unitech have started constructing residential projects in the range of $1 million - $2.5 million apartments, penthouses and duplexes like Aralias, Magnolias, Karma Lakelands and The World Spa. The prime business locations in the Gurgaon property market are MG Road, Golf course Road, DLF Cyber City and Udhyog Vihar. Manesar on the outskirts of Gurgaon is also emerging as the city’s new office space destination. Some of the major transactions in this micro market were:- • LI & Fung – 200,000 sq.ft. • Deloitte – 70,000 sq.ft. • Ericsson – 70,000 sq.ft. • Kyocera - 12,000 sq.ft. • Fujifilm – 10,000 sq.ft. |
About the Author
Vanky Raman is a professional real estate consultant of India which provide you the latest informations of Gurgaon Property to receive FREE Indian Real Estate Newsletter log on to www.investinnest.com
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