Gurgaon

Real Estate developments

Property market in Gurgaon is once again reaching sky-high levels.
Earlier, real estate in Gurgaon was thought to be an unorganized
market dominated by regional players. But, the things have changed
now. The sector is increasingly being looked upon as to be peopled
by renowned developers and managed by professionals. Gurgaon real
estate is believed to have spearheaded the development process
in other parts of the country as well. What was once a highly
fragmented business dominated by region based private entrepreneurs
has now become a national and global business.

The real estate in Gurgaon is surging strongly. Its improving
infrastructure, business environment, coupled with the growing
income and changing lifestyle of the residents are the factors
encouraging real estate developers to bring more and more frenetic
developments in this fast flourishing cyber city.

With Gurgaon being recognized as a major hub of numerous MNC’s
setting up bases here, there is no scarcity of funds. Surprisingly,
Gurgaon is standing as a city offering high returns on property
investments on hand. Roll eyes in either direction or whether
talk about commercial or residential real estate, you will see
development taking place at their fullest. With the demand for
housing spiraling up as never before, it is the right time for
making investments in the residential segment. Gurgaon real estate
offers buyers’ market right now, both for domestic and international
property enthusiasts, especially Non Resident Indians (NRIs) who
are keen on making investments here.

Foreign investments in Gurgaon promises high return on investments,
as FDI policies in India are among the most liberal and attractive
in emerging economies. So, invest in Gurgaon properties, and add
a progressive city into your overall investment profile.

Appreciations

As a private enterprise developed city, Gurgaon has always been
topped the chart on real estate values. Land rates in Gurgaon
are already going through the rooftop and they are to increase
further as the city continues to expand. However, land still
remains an attractive investment option that could come by for
investors. Property in central areas of Gurgaon is seeing fair
appreciation. It has seldom chances to multiply over the next
several years.

As such, Gurgaon is offering excellent prospects to set up business
establishments and residing in a well designed and developed city.
And needless to say, the real estate investment is certain to
offer high returns. DLF, Unitech, Omaxe, and other prominent builders
have however lived up to the commitments they have made to transform
Gurgaon into a cyber city.

Commercial spaces in Gurgaon are also available
in a number of A class buildings featuring an array of top notch
infrastructure facilities such as broadband internet, ample parking
space, 24x 7 power supply, water, tight security, etc. To avail
all the mentioned features, scout the commercial space in buildings
like Signature Tower, Business Global Park, JMD Tower, DLF Cyber
Park, Pacific Square, Paras Downtown, Augusta Point, MPD Tower,
Millennium Plaza, Galaxy Towers, Senior Plaza, Vatika Triangle,
First India Place and many more.

Development of several SEZs will give a further impetus to Gurgaon
real estate thereby turning the city into a competitive IT centre.
Subsequently, property rates at Gurgaon are high
and at par with some of the high priced metros in India.

Another round of escalation of prices cannot be ruled out seeing
the establishment of world class industries and software giants
to set up substantial presence. With a multitude of skyscrapers
set to dot the skyline, the time is not far way when Gurgaon will
be known as a ‘city of skyscrapers’.

NRI Trends in Gurgaon

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Gurgaon is soon to become a home to exclusive skyscraper buildings.
The aim of such a venture is to work out concept of self-sufficient
neighborhoods, complete with work-live-play environment, incorporating
the latest state of the art technology in terms of technical know-how,
convenience and comfort on the housing front especially for high
middle class and the NRIs retiring back to the country. More and
more real estate projects taking concrete shape, land
values in Gurgaon have seen a sharp rise in prices.

Moreover, Haryana government plans to add the Gurgaon into skyscraper
map of the world, indeed, right on top of the heap. The state
government hastened its seat belt to complete the construction
of a world class Golden Triangle City Centre (GTCC) in sector
29, Gurgaon with four tallest buildings in the world. Each of
the proposed skyscrapers would have140 floors, taller than Taipei
101 which is known to be the highest manmade structure on the
planet.

This would-be maximum city has exclusive infrastructure facilities
as far as road and rail connectivity, well developed industrial
estates, good banking facilities, steady communication network,
technical institutes and developed commercial markets are concerned.
Special attention is given on planned infrastructure development
and providing eco-friendly surroundings for a better and healthy
living.

Gurgaon is already saturated as far as real estate development
is concerned and property prices are rising constantly. With increasing
IT base in the city, the personnel are exacting in their demand
for residential segments, which certainly give a nice prospects
for investments. Due to IT boom, rental returns have also shoot
up. It is only a matter of time before the quality of construction,
facilities, and infrastructure matches and surpasses that available
in the metros.

Also, with a resurgence of production units in Gurgaon, people
who have migrated out of the city are coming back and this has
triggered a rise in the demand for residential sector. However,
if you are planning about to make investments in Gurgaon residential
-properties, the repatriation of sale proceeds is restricted to
not more than two such properties as per the norms for NRIs/PIOs.

Gurgaon as a progressive city is no far behind in the retail
sector. With more and more retail players entering the arena,
the demand for retail space has also grown thereby boosting the
Gurgaon’s known mall culture. Therefore, the growth in Gurgaon
real estate sector is likely to accelerate in time to come.

With Reserve Bank of India relaxing the rules and regulations
for NRIs, it has been made easy for them to rent out their immovable
property in India without seeking any prior permission from the
central bank.

NRIs have been granted a blanket of permission to buy property
in India for their residential and commercial purposes. Also,
there is no cap on the number of quality investments can be made
in real estate. The immovable property can be purchased by the
route of inward remittances from any place outside India or through
funds maintained in NRI accounts in the banks within the country.

Today well known builders like Vatika, Omaxe, Unitech, DLF, and
Ambience to name a few are taking on giant projects of their own
that primarily focus on the high middle population of Gurgaon.
With heightened demand of Gurgaon real estate, the market is on
a roll. So, reap the benefits soon without missing a single opportunity
from your hands.

Photo: Gurgaon Panorama by Dinesh Pratap Singh, licensed under CC BY-SA 3.0, via Wikimedia Commons.