Gurgaon has always remained the most attractive property investment destination in Delhi-NCR especially in the recent years. The major part of the real estate investment in India has been seen to come from Gurugram. This influx of investment is due to many reasons. One of them being that the Gurugram offers one of the best real estate markets for the commercial and residential properties alike. Investing in both of these segments of the real estate has been proved to be beneficial. Therefore, we can say that Gurugram is the land for commercial as well as residential property.
The many factors which includes rapidly developing infrastructure, world-class connectivity through metro rails, roadways, railway station as well as the international airport located in the vicinity are the topmost among the all. Apart from these, the availability of resources, the Dwarka expressway highway, many commercial spaces and high rise buildings for office purposes, job opportunity and many other basic as well as luxury amenities has made the Gurgaon real estate market one of the most appealing ones in not just only NCR, but also in the country.
After the launch of PMAY, affordable housing scheme, and the RERA Act, the investment in the residential sector has seen a rapid and a considerable rise. Therefore, the residential real estate segment in the Gurgaon has prospered with a very high rate in recent years. Also, the success of these initial residential projects in Gurgaon has encouraged other builders and construction companies to develop new projects in Gurgaon. This makes a chain of successful growth in the market. The houses are kept at affordable prices owing to the affordable housing scheme and so there are sufficient buyers willing to invest in the residential segment.
Gurugram is also known as the millennium city and also as the city for startups. This itself highlights is a peculiarity in the commercial real estate market. The number of commercial spaces like shopping complexes, food courts, high-rise office buildings, multiplexes etc is continuously on a high rise. People find in Gurgaon a potential for excellent property appreciation in the future, especially in the commercial sector.
We note that Gurugram accommodates around 1,500 start-ups and has also been regarded as the 4th largest start-up hub in India. As the city hosts quite a large number of the start-up industry, many businesses in search of co-working spaces are finding it as an amazing destination for the new office space land in the Millennium City.
The startup culture has also contributed to growth. The recent developments like Digital India scheme which have encouraged the establishment of new businesses and startups have given Gurgaon a fair opportunity to flourish as the land of commercial real estate. The availability of desirable area, resources, connectivity has ensured the development of the right and the paramount infrastructure to support the growth of businesses such as startups hence, giving the commercial sector a fair rise in growth.
What else? With a land which has seen significant growth due to many factors listed, is bound to emerge as one of the biggest real estate market. Also, according to the statistics, the residential real estate has done fairly well in recent years. Similarly, the emerging start-up businesses, need for a larger commercial area. Developing infrastructure and boosted connectivity has proven to be a boom for commercial property.
Rental income has been another major force which drives the investment in Gurgaon in both residential and commercial sector. As people see the rapid evolution and development of the millennium city, they also see it as an opportunity to earn a handsome rental income after investing in the property. For the people belonging to the middle-income group, who already own a house of their own, investing in Gurgaon for a long-term rental income is one of the best financial decisions.
It is also important to note that high economic growth recorded in India in the previous year has led to the increased influx of foreign investments in the construction sector. The government now allows 100% foreign direct investment in this sector which has resulted in widespread infrastructure development. The targeted and central locations in this aspect include Gurgaon. Therefore, Gurgaon inevitably and unarguably becomes the land of one of the intensive real estate market in both commercial as well as the residential sector.