Gurgaon - The Most Prosperous City In India : Crisil

Gurgaon - The Most Prosperous City In India : Crisil

By SiliconIndia   |   Tuesday, December 31, 2013
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Gurgaon : Gurgaon has been at the forefront of growth and development in the real estate sector of India. Since over a decade, this city has witnessed rapid urbanization and has evolved as a reassuring node for occupation and habitation. As reported by the Times of India, Crisil, the credit rating firm has rated Gurgaon as the most prosperous city in India. Rated on the tangent of owning consumer durables, Gurgaon has been graded as a city with the maximum possession of gadgets and household utilities. This city, which is relatively novel in terms of its recognition in the country, has overwhelmingly scored over the metro cities like Mumbai and Bangalore. In ownership of items like the television, mobile phones and laptops, Gurgaon is way ahead of Mumbai, the financial capital and Bangalore, the IT hub of India. Captivatingly, the growth of IT and ITeS sector in Gurgaon and the augmenting wealth in such service domains along with the appreciating realty assets have been reckoned as the reasons for this recognition awarded to Gurgaon. Gurgaon, the millennium city has been a promising host to the sprawling flanks of Delhi outskirts. The demand of cheaper accommodation and contemporary business parks was well catered by Gurgaon and these were the triggers of growth which revamped the spectacle of economy in this city. Long lasting tale of commercial expansion and growth in Gurgaon has elevated this city to the stature of being the most sought after location for livelihood in the present day. The growing disposable income with inhabitants of Delhi NCR had further befitting outcomes for Gurgaon and its realty assets. Within a short span of time, residential/commercial pockets like Golf Course Road, Cyber City and DLF Phase I, II, III and IV surfaced as the locations which offer comfortable habitation and place of work with reassuring social and industry infrastructure. Gurgaon's comparison with other metro regions can be attributed to the rapid growth of residential enclaves and commercial space in this city. Moreover, even when compared to Noida, Greater Noida, Faridabad and other outskirts of Delhi, Gurgaon has given them a tough run for preferences of immigrants who seek a rewarding occupation and habitation in North India. Today, more than 50% of fortune companies and other multinational corporations have relocated their operation bases to Gurgaon. Moving forward, the commercial, retail and residential properties in Gurgaon have appreciated five to eight times in a short span of period from 2005 till date. Gurgaon being rated as the most prosperous Indian city has come as no surprise to its inhabitants and the market watchers in this region. This city has promisingly surfaced as a destination which provides healthy appreciation and contemporary habitation to the investors and end users in the real estate sector.
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