India with its billion plus population, offers a huge real estate market for domestic and international developers. Over the past few years the prices of properties in India have registered a sharp increase. Though the global meltdown in 2008 and sluggish demand in 2010 created a dent; the real estate market is back on the road to recovery with Gurgaon properties leading the way.
Gurgaon is strategically located near the capital Delhi and has emerged as the industrial hub of North India. With industrial giants like Maruti, Minda and Honda, operating from Gurgaon and many multinational IT companies setting up their development centers here; the Gurgaon property market is witnessing a boom. Fortune 500 companies run their businesses from swanky offices in Gurgaon to retain proximity to Delhi; while avoiding its congestion. The Metro connectivity to Delhi and the nearby Indira Gandhi International airport make Gurgaon very attractive destination for International corporate houses. Well known MNCs have set up their offices and development centers here. With many more following the suit, the employment opportunities are galore in Gurgaon.
This has resulted in an influx of high-end professionals from different parts of the country, which in turn has created a strong demand for the residential properties in the city. People prefer Gurgaon over Delhi to escape daily nuisances like traffic jams, pollution and rising crimes. Many big players like DLF, Spaze, Omaxe and Bestech, Godrej, Tata Housing, Raheja Developers, MGF EMAAR, Unitech and Shobha Developers have pitched in and investing heavily in the realty market. The high-tech corporate office towers like Global Foyer, Vatika Towers, Orchid Square, etc are some fine examples of commitment of big realtors to build world class amenities for the people in Gurgaon.
With finalization of the New Gurgaon-Manesar Master plan-2021 and efforts made by the administration to speed up the ongoing six lane Gurgaon-Jaipur highway; the Gurgaon property market has a very bright future. This master plan will spur development of different types of properties from commercial to residential, as per international standards and encourage buyers to invest here. Though the numbers of existing residential units fall short of the current demand; developers see it as a good business opportunity and are building new bungalows, residential towers and complexes. Hence the Gurgaon property market is buzzing with new development stories and remains very attractive to people who want to build their dream home or invest their money safely, with expectations of high return in future.