Monday, 20 January 2014

New Gurgaon- future in present

Real estate has today become a popular investment avenue for many. However, lack of transparency and regulations means most of us are making investment decisions with limited understanding of the risks involved in parking their hard-earned money in real estate.

While there are risks, there are a few residential destinations that not only secure your investments but also provide a hedge against the risks and economic problems. New Gurgaon is one such location.  As property prices skyrocketed in New Delhi, New Gurgaon exploded with several options.

The Haryana Government too is doing all it can to make the best and brightest of all tier two and three cities within the state. The area in particular is now witnessing developments of some of the tallest residential and commercial buildings, the widest roads, malls and some of the swankiest hotels.

New Gurgaon today holds a greater promise for businesses in addition to best developed residential sectors. The region is now on its way to becoming reality – the government and private investment are already pouring into Gurgaon in millions. We keep hearing about the various alliances between developers and certain private equity firms to develop projects of international repute.

But what makes NewGurgaon the best option for investment? It has much better infrastructure, located in the NCR. Investing in New Gurgaon is a much safer bet compared to Noida or Ghaziabad, where one keeps hearing about frauds and project delays. New Gurgaon has the advantage of being close to the airport, National Highway 8 and offer affordable prices. New sectors in New Gurgaon region are attracting major investments and industry. Despite the recent infrastructural facelift, prices in New Gurgaon are still 20-30 per cent lesser than properties sold in Gurgaon and Delhi. It is likely that area will give healthy appreciation in near future.

On the anticipation of a boom on the residential market and increased scope for commercial activities in the area, commercial properties in New Gurgaon have also witnessed an attractive appreciation of more than 50 per cent over the last two years.

As per reports of market consultants most commercial projects would be ready for possession soon. The area will then have a strong rental market. The current rates for commercial property in the area are upwards of Rs 7,000 per sq ft. It is likely that the rates will rise further.

If your current budget is low, move further into the New Gurgaon and buy cheaper apartments. The current market seems to be weak on account of various problems such as high interest rates, inflation etc. Industry estimates and newspaper reports suggest that there is a countrywide drop in sales. This gives buyers an option to strike a good deal at good rates. If you have money, New Gurgaon is the place to be parking it. 

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