Gurugram or Gurgaon is a vibrant city that plays a huge role in the economic growth of our nation. Due to the influx of investments from multinational businesses and high profile personalities, the velocious upward growth trajectory of the Gurgaon real estate sector hasn’t seen any hindrance. If you are contemplating to buy a property in Gurgaon, this is the best time.
Gurgaon is the largest technical and financial hub in North India. Also, the Delhi-Gurgaon Expressway, propinquity to IGI airport, Delhi etc. are some of the main impetus for Gurgaon’s real estate boom. When Gurugram’s real estate figures are compared to the national average, it becomes clear that the city is on an unprecedented development trajectory. Gurugram’s demand rise of 28.9% has greatly outperformed the country’s 10.4%. In addition, Gurugram’s rate index increase of 2.3% exceeds the national average of 2.2%.
In this blog, we’ll discuss 6 important factors that have been the driving forces behind the Millenium City’s extraordinary growth.
4 Vital Reasons Why Gurugram Real Estate Market Is Booming
Stable Real Estate Market
The real estate market is dynamic. Real estate prices rise and fall in response to variables such as the overall health of the economy, growing inflation, job creation, as well as the growth of a middle class with strong purchasing power. The middle class is the primary driver of growth in every developing economy. India’s economy is the world’s fastest growing economy. At a time when the United States is on the verge of a recession and China is experiencing deflation, the Indian economy continues to grow. Gurgaon is in the centre of India’s development narrative. The city draws international businesses, resulting in a significant infusion of foreign investment.
Booming Economy & Higher ROI
Gurgaon’s economy has only seen an upward curve in the last decade. The existence of a variety of sectors and enterprises is the primary cause of this quick expansion. Gurgaon is connected to Manesar, which has vast manufacturing and businesses. The city provides several job prospects in a variety of industries, including IT, finance, and technology. The job prospects are endless in this city. As the demand for housing rises, corporate individuals are taking different real estate investment strategies for generating a greater ROI. Thus Gurgaon has become a great location for commercial and residential property investors.
Connection To Delhi
Gurgaon’s strategic position has allowed a seamless connection with Delhi and other areas of NCR. Delhi-Gurgaon Expressway and the forthcoming Dwarka Expressway, have made Gurugram a popular investment destination. A huge chunk of the latest residential properties in Gurgaon are being developed around or near the Dwarka Expressway. This facilitates transit to the centre of Delhi and other cities in the NCR. Airport access has also been a top priority when purchasing property. Gurgaon has an excellent link to Indira Gandhi International airport which is one of India’s largest airports. The presence of excellent connectivity has made travel easier for both residents as well as for enterprises.
Urban Development
Gurgaon’s rapid urban development has helped it to become one of India’s economic superpowers. Cyber City and Cyber Hub have seen significant advancements in terms of high-quality infrastructural development. So, if you’re dreaming of a home in the midst of a buzzing city then Gurgaon is the city for you. The city has all modern conveniences, including well-connected highways, educational institutions, healthcare centres, and several other amenities and services.
The Bottom Line
The emphasis on infrastructural upgrades in the NCR, particularly in Gurgaon, is adding to the spike in demand. This momentum is projected to continue as the entire NCR faces housing supply constraints in the mid to premium category, implying tremendous potential growth.