Gurgaon Witnesses Rapid Growth in Realty in India

Bangalore: Gurgaon real estate sector is witnessing growth at a fast pace in India. Several developers are pouring into the city to launch their new residential projects following 25 percent price rise over the last one year, reports Prabhakar Sinha of TNN.

Lately, Gurgaon has seen new project launches from developers who are flocking to the city from various places. For instance, prominent real estate developers like Godrej developer, Tata Realty from Mumbai and Sobha developers from Bangalore have launched their residential projects in the city which has lead to the level of competition in the real estate sector in the city.

After Gurgaon has become a hub for IT and IT-enabled services in North India, a huge number of high-income jobs have been created in the city, which leads to the demand for housing.

However, industry consultants believe that there is a huge gap between the demand and supply of residential units. As prominent developers like DLF already launched projects in well developed sectors following Golf Course Road, which are almost occupied completely.  Allowing the city to develop further, authority has finalized the Gurgaon-Manesar Master Plan-2025.

According to the new Master Plan-2025, the land availability for development purpose and the avenues for new growth corridors are incorporated. The new plan will also allocate around 14,930 hectares of land for residential purpose, which will be more than enough to develop over 58 new sectors.

In Gurgaon, some of the major growth corridors are Golf Course Road, Sohna Road, Pataudi Road, Manesar, Jaipur Highway following the strong growth in Bhiwadi and Dharuhera. And in New Gurgaon sectors that are witnessing rapid growth include 37, 37D, 80, 81, 82, 85, 86, 90, 92, 93, 95, and 99.

However, New Gurgaon has emerged as one of the top real estate destinations in the country, offering high-end infrastructure, world-class amenities, good connectivity with neighbouring states, and close proximity to airport and metro connectivity to Delhi.

In today’s date, New Gurgaon has become a sought after destination that offers lifestyle living and commercial enterprise. Besides, the region is changing into a residential and commercial hub.

Although the region is still preferred among budget home buyers yet, these areas are witnessing new residential launches under premium segment that have attracted high net worth buyers and investors. These premium projects are launched by top notch developers like DLF, Unitech, Tata Housing, Godrej, Raheja Developers , Ramprastha, MGF EMAAR, BPTP, Ansal API, Central Park, Antriksh, Chintels India, Bestech, Supertech, Assotech, Sobha Developers, ATS, Orris Infrastructure and Puri Constructions, to name a few.

The price rise in Gurgaon’s real estate sector is mainly due to the upcoming modern townships and industrial developments, which are growing rapidly in various sectors of Gurgaon, along with the new industrial model township projects that are coming up in locations like Manesar, Dharuhera and Bhiwadi.