As migrants continue to shift base to Gurgaon because of their jobs,developers are tapping this unique demand by rolling out projects in various growth corridors of Gurgaon.TEAM MAGICBRICKS reports
Gurgaon is witnessing a growing demand for residential housing and many new projects are in the pipeline in new sectors like 60 to 67,Dwarka Expressway,Sectors 83 and 86 and neighbouring Manesar area.
As migrants continue to shift their base to Gurgaon because of their jobs being located here,developers are tapping this unique demand by rolling out projects in various growth corridors of Gurgaon.
In the last two-three,the new projects which have been launched are Esencia Floors of Ansal API (Sector 67),Skyon of IREO (Sector 60),Madelia of Anant Raj (Manesar),Palm Gardens and Vatika India Next Independent Floor of Emaar MGF (Sector 83),Spire Wood of Millennium Spire (Sector 103),Nirvana Country Phase 3 of Unitech (Sector 70),Merlin of M3M (Sector 67),among others.Most of these projects are offering 3 O 4BHK apartments with world-class amenities and have been launched at a starting rate of Rs 65 lakh and above.
The residential segment has seen a huge growth with significant increase in rental and capital values.This is happening due to the setting up of industries in Gurgaon,which in turn have attracted huge workforce to the city.These people are major contributors of the demand and reputed builders are capitalizing upon this by launching several more residential projects.On the price front,Gurgaon market has been fairly stable and is likely to firm up in the near future.Gurgaon continues to be an investor-dominated market with buyers having opportunities to purchase apartments ranging from Rs 5,500 to Rs 11,000 per sq ft."There is a wide demand for 3BHKs in Gurgaon in the primary market from Investors and end users.In fact,after land acquisition issues in Noida Extension and Noida,20-30 % of investors have shifted to Gurgaon market.Moreover,it's the transparency,infrastructure development and expectations of future returns which are driving even NRI/HNI investor towards Gurgaon realty."
Vivek Seth,the managing partner of V Square Development Company Pvt Ltd,says: "In the next few years,there would be a drastic change in the look and feel of Gurgaon with more and more infrastructural developments being initiated in making Gurgaon well connected and a safe place."
Real estate is expected to grow further as more and more industries are opening up,corporates shifting their base and job seekers moving here aspiring for better careers."With increase in the disposable income,this place is likely to become one of the most promising investment destinations for investors and end users.
