About a piece of hot cake
million square feet of A grade space coming up in Gurgaon by the end of 2006.
It would be really unfair if one would associate IT and BPO as the only terms with Gurgaon. Besides all the developments which IT and BPO sectors did in Gurgaon, things would not have been possible with a proper infrastructure given to them. The property market in Gurgaon in last 5-6 years has achieved new heights and attracted not only big but small investors also.
The once called sleepy town of Haryana witnessed a boom in real estate in late 90's with the liberalization of the Indian economy. The high disposable income in the hands of employees belonging to the booming service sector in Gurgaon has led to tremendous spurt in demand for Gurgaon properties- both for commercial and residential use. People form all the spheres of life are coming in droves which has helped in giving Gurgaon a cosmopolitan look.
With space and traffic as perennial problem in Delhi, the spur was to find place with better living condition which would not only be spacious but also an easily accessible to the National Capital. In this very imbroglio Gurgaon came as a unanimous and perfect destination not only for the mass but also for MNC companies. Now, Gurgaon showrooms like Sahara mall and MGM metropolitan are the best showrooms in NCR region.
Today in spite of huge corporate houses we see Gurgaon as a best place for shoppers. Some of the country best malls are situated here. The property in Gurgaon has skyrocketed over the past decade due to this burgeoning demand. A majority of the middle class can easily afford their own homes and shops thanks to the easily accessible loans these banks provide. With the opening of shops, retail houses and malls people living in Gurgaon do not have to move Delhi for buying every tit-bit they need. This has eventually given local trade in Gurgaon a great boost and has served as an impetus for business people to look for a new venture here.
When it comes to pricing and property in Gurgaon is selling like hot cakes. Property in Gurgaon is more of an investment with average residential flat is 2700 to 3000 per square feet. The price appreciation in Gurgaon is fairly stable and is 20-30% of the projects started way in 2004. Altogether 5 million sq ft of grade A space is expected to come into the Gurgaon market by the end of 2006 with large floor plates ranging from 20,000-1, 50,000 sq ft. The majority of these commercial buildings are targeted at IT-ITES companies, Mall builders and Showroom Owners.
It would be really unfair if one would associate IT and BPO as the only terms with Gurgaon. Besides all the developments which IT and BPO sectors did in Gurgaon, things would not have been possible with a proper infrastructure given to them. The property market in Gurgaon in last 5-6 years has achieved new heights and attracted not only big but small investors also.
The once called sleepy town of Haryana witnessed a boom in real estate in late 90's with the liberalization of the Indian economy. The high disposable income in the hands of employees belonging to the booming service sector in Gurgaon has led to tremendous spurt in demand for Gurgaon properties- both for commercial and residential use. People form all the spheres of life are coming in droves which has helped in giving Gurgaon a cosmopolitan look.
With space and traffic as perennial problem in Delhi, the spur was to find place with better living condition which would not only be spacious but also an easily accessible to the National Capital. In this very imbroglio Gurgaon came as a unanimous and perfect destination not only for the mass but also for MNC companies. Now, Gurgaon showrooms like Sahara mall and MGM metropolitan are the best showrooms in NCR region.
Today in spite of huge corporate houses we see Gurgaon as a best place for shoppers. Some of the country best malls are situated here. The property in Gurgaon has skyrocketed over the past decade due to this burgeoning demand. A majority of the middle class can easily afford their own homes and shops thanks to the easily accessible loans these banks provide. With the opening of shops, retail houses and malls people living in Gurgaon do not have to move Delhi for buying every tit-bit they need. This has eventually given local trade in Gurgaon a great boost and has served as an impetus for business people to look for a new venture here.
When it comes to pricing and property in Gurgaon is selling like hot cakes. Property in Gurgaon is more of an investment with average residential flat is 2700 to 3000 per square feet. The price appreciation in Gurgaon is fairly stable and is 20-30% of the projects started way in 2004. Altogether 5 million sq ft of grade A space is expected to come into the Gurgaon market by the end of 2006 with large floor plates ranging from 20,000-1, 50,000 sq ft. The majority of these commercial buildings are targeted at IT-ITES companies, Mall builders and Showroom Owners.
posted by halobeeb at
3:27 PM
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