Gurgaon, often referred to as Gurugram is a city found in the northern state of Haryana. In recent years, Gurgaon has become one of India’s prime real estate destinations. The Gurgaon real estate sector is experiencing a sharp increase this holiday season. Property demand usually increases during festive periods, increasing the prospects of long-term value appreciation. This article focuses on the different forces propelling Gurgaon’s property market revival during the Christmas period.
It seems 2023 is already Gurugram’s year, with revolutionised growth and a reshaped landscape. Gurugram’s property has been boasting with demand; for example, in the April-June 2023 quarter, residential property prices across India increased by 6% on a YoY basis, with Gurugram growing above the national growth rate of 12% on a YoY basis.
Festive Promotions and Affordable Housing
Gurgaon’s property market dazzles during the holiday season as developers display enticing deals. These include flexible payment plans and attractive discounts that make buying a house a reality. Such a festive promotion provides an excellent chance for home buyers to purchase dream properties.
Gurgaon’s real estate revival is tied to the improved infrastructure that heightens the city’s livability. There are new roads, extended metro links, and necessary civic infrastructure transforming the urban landscape.
Delhi’s road system is highly sophisticated, encompassing the prestigious Delhi-Gurgaon Expressway that links it with the national capital. In addition, the city has a metro rail system that has enhanced linkages inside the city and with surrounding areas. The creation of the Western Peripheral Expressway (WPE), aka Kundli-Manesar-Palwal (KMP) Expressway also enhances connectivity with the rest of the state.
Hotspots of real estate investments are becoming key areas, like the Southern Peripheral Road. Also, added attraction is provided by its location close to the national capital city, Delhi, and other major highways, as well as to the Indira Gandhi International Airport.
Proximity to Delhi
Another reason behind the rise in real estate in Gurgaon is its nearness to Delhi. It is 30 km from Delhi, making the town popular for residents employed in the national capital but prefer to live outside of a congested and noise-free space.
Presence of IT & Multinational Companies
Microsoft, IBM, Accenture, and Google are among the many multinational companies in Gurgaon. The city has also become a centre of attraction for IT companies, including many new firms and a few established ones that have located their offices there. This commercial real estate sector growth has contributed to the demand for commercial and residential projects in Gurgaon.
Gurgaon presents numerous top-of-the-range residential facilities like villas, penthouses, flats, and townships. Several luxury housing projects in this city have been developed by high-profile developers catering to the needs of the residents.
One such project is ACE Palm Floors, developed by one of the renowned real estate builders in Noida – ACE Group. This township in Gurgaon offers luxury low-rise floors, residential plots, eco-friendly communities, and luxuries that add convenience, style, and comfort.
Watch to catch a glimpse of ACE Palm Floors
Good Return on Investment
Home buying in Gurgaon provides an opportunity for future benefits due to the long-term investment. The fact that the city is experiencing rapid economic growth and infrastructure development makes it a desirable investment destination.
Gurgaon’s real estate sector has fared well due to good investment yields. According to reports, the Q2 2023 reported searches for residential rental demand in Gurugram increased by 21.9%, while the average rents grew by 5.1% QoQ. Therefore, investors can also consider the city, primarily due to the rising property rates.
Growing Tourism Industry
Over the last few years, tourism in Gurgaon has been on the upswing. The city has many sightseeing places, like the Rangmanch Farms, Cyber Hub, Sultanpur National Park, and Ambience Mall. Consecutively, the tourism sector has resulted in increased demand for residential hotels and serviced apartments in the city.
Availability of Amenities
Gurgaon has various amenities, such as schools, hospitals, shopping malls, and even entertainment facilities. Some of the best hospitals in the world are available in the city, such as the Medanta Hospital and the Fortis Hospital. Moreover, the town has several international schools, like Euro International School and Ryan International School, that make it another pleasant location for families with children.
The government’s support for the real estate sector in Gurgaon has seen several incentives and subsidies offered to developers. The government has also enacted various measures to improve infrastructure and connectivity in the city.
This change follows global environmental concerns in line with the property market in Gurgaon. Some developers are adding green-oriented features to their projects, targeting environmentally concerned buyers. This approach makes it clear that Gurgaon is a city that combines both architectural greatness and environmental concern.
Projects like ACE Palm Floors deliver sustainable features in their township in Gurgaon, such as:
- Rainwater Harvesting
- Timer Operated Streetlights
- Alternative Energy, Solar Heaters and Solar Lighting
- Solid Waste Management
Cultural Diversity and Lifestyle Options
The city’s real estate appeal is enhanced by its multicultural fabric. The multiculturalism in Gurgaon leads to a vibrant lifestyle for its citizens during the festive season and provides up-market malls, restaurants, and entertainment facilities. This diverse environment is an attractive option for people interested in a rich cultural life.
Security and Robust Infrastructure
The city’s appeal is further enhanced by its focus on security, as shown by the existence of gated communities and sophisticated surveillance systems. Gurgaon is seen as a viable investment by families in search of a safe home since it has good infrastructure.
Gurgaon’s property market is back in full swing during this festive period. Gurgaon’s real estate landscape tells a story of aspirational and sustainable lives thanks to the developments mentioned above.
ACE PALM FLOORS – RERA REG NO. for plots: RC/REP/HARERA/GGM/439/171/2021/07for floors: RC/REP/HARERA/GGM/449/181/2021/17 | www.haryanarera.gov.in