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Delhi Report: Gurgaon Leads the Real Estate Market

According to a recent report, by the end of 2013, residential property in Delhi NCR region is expected to have a total demand of over 10.2 lakh units, 67 lakh retail spaces and 250 lakh sq ft of office spaces. With rising demand from all sectors, property investment Gurgaon hits the demand list. The real estate Delhi NCR  numbers are further driven by factors such as good connectivity to Delhi, upcoming international projects and proximity to all key areas of the city. Considering the whole of Delhi, Gurgaon is the most rapidly developing region in the real estate Delhi NCR sector. After witnessing a rise in the property prices up to 25% in the last year, builders and property developers are keen to launch their projects in Gurgaon.

Some of the notable recent launches in Gurgaon were made by Sobha Developers, Godrej Developers and Tata Realty. The entry of such leading players in the sector have further infused the competition in the region. After having emerged as a hub for IT industry and Allied services in north India, lots of white-collar jobs have been initiated in Gurgoan in the recent times. Notwithstanding, due to its close vicinity to the national capital Delhi,
large number of Fortune 500 firms have made their proud march into the city, bringing in hundreds of high-income professionals.

With the new Gurgaon-Manesar Master Plan 2025, more real estate corridors are expected to open up due to increased availability of land. Under the new plan, 14,930 hectares of land have been allocated for residential accommodations, creating home for over 58 new sectors. Most of the new real estate developments planned in Gurgaon are going to take place in these sectors.

According to sources, more than 35% of the proposed residential land in Gurgaon are under various stages of license processing. Sohna Road, Bhiwadi, Golf Course Road, Dharuhera, Pataudi Road, Jaipur Highway are some of the high growth corridors buying a property in Gurgaon. Apart from these regions, sectors 37, 37D, 80, 81, 82, 90, 92, 93 are seeing tremendous response in Gurgaon.

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