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Gurgaon : Realty market overview

1410787907_gurgaon

1410787907_gurgaon

A snapshot: Gurgaon, which is an integral constituent of the National Capital Region today, has an interesting history behind its progression. It has witnessed rapid transformation from being an agriculture-centric, dusty village about 30 kilometers away from Delhi to the Millennium City, as it is now known. The name of the city (and district) is said to have been derived from Guru Dronacharya, a warfare expert in the Hindu Epic “Mahabharata” who resided in this village and trained the Pandavas and Kauravas in their battle skills.

 

While the city’s future was quite obviously governed by the development and expansion of the neighboring capital Delhi, the most remarkable episode was automotive major Maruti Suzuki setting up their manufacturing plant here in the 1970s. The development that followed over the next three decades rapidly evolved the rustic town into a futuristic corporate and residential hub, in which a renowned developer – DLF Limited has played a major role.

 

Gurgaon as it is today: Gurgaon is the corporate hub of Delhi NCR, and it has been adorned with the finest work and living spaces, although the infrastructure barely manages to match the rapid urbanization of the city. Most of the sectors close to NH-8 and those around the metro route and Golf Course Road have witnessed complete transformation, while a few areas in the interiors still exist as villages, with little developments so far.

 

Being a hub of multinational organizations and IT services providers, there are several workplaces in Gurgaon, mostly around DLF Cyber City, Udyog Vihar, Guru Dronacharya and DLF Golf Course Road, which are thronged by millions every day. Residential property projects have been focused on providing the residents with international living standards close to their workspaces, and most of the new projects include townships offering apartment-style residences in high rise units.

 

Real Estate in Gurgaon: After having undergone unparalleled urbanization over the last two decades, Gurgaon has evolved into one of the most enviable real estate investment destinations in the National Capital Region. From middle class individuals operational in the numerous workplaces peppered across the city to the rich and famous, everyone seeks to own an address in Gurgaon, and developers have proactively addressed this need. There has been widespread development in terms of real estate, and there are plenty of options available in the commercial as well as residential property sector. In recent times, properties ranging between Rs. 1-3 Crores have seen maximum increase in demand as well as supply, which majorly comprise 2BHK, 3BHK and 4BHK apartments in Gurgaon. With more than half of the Fortune 500 companies having set up their offices in Gurgaon, there is a surging need for residential as well as commercial structures in the city. Areas like Sohna Road, Sector 56, Golf Course Road, Palam Vihar and Nirvana Country are some of the most popular real estate investment destinations in Gurgaon. Top builders operational in the city include DLF Limited, Anant Raj, Vipul Group, Assotech, Supertech, Vatika, Earth Group and CHD Developers.

A sneak peek into infrastructure and facilities in Gurgaon: Here’s some information to get a deeper insight of Gurgaon:

  • How you’ll be connected: The NH-8 is the arterial road in Gurgaon; one which connects most of the developing sectors in the city with each other. Several residential neighborhoods as well as office spaces are tucked along the NH-8, which is among the busiest highways in India. Equally frequented by local commuters and freight carriers, the highway is quite capable of handling heavy traffic and serves its purpose well. M.G. Road, Sohna Road and Golf Course Road are some of the other important roads in Gurgaon, and there are also internal roads connecting important sectors, most of which witness high traffic especially during hours when the city’s residents commute to and from work. Public transport in Gurgaon is not the best in the region, which makes it imperative to own a private vehicle to move around comfortably.
  • Schools and Education: There are several institutions imparting basic to high-level education to students in Gurgaon. Schools and colleges in Gurgaon are scattered across various sectors, and these offer an assortment of educational courses ranging from engineering studies to medical, management and hospitality-related programmes. Some of the important schools and colleges in Gurgaon have been mentioned below:o Schools:
    • Scottish International High School, Sushant Lok II, Gurgaon
    • Ryan International School, Sector 40, Gurgaon
    • Blue Bells Public School, Sector 10, Gurgaon
    • Salwan Public School, Sector 15, Gurgaon

    o Colleges:

    • Ansal University, Sushant Lok II, Gurgaon
    • Dronacharya College, Sector 5, Gurgaon
    • IILM Institute For Higher Education, Sector 53, Gurgaon
    • Management Development Institute, Sukhrali, Gurgaon
  • Healthcare Facilities: Being a rapidly developing area, there are several hospitals, healthcare facilities and medical research institutes that have come up in Gurgaon. One of the most renowned healthcare centres in India, Medanta Medicity is located at Sector 38 in Gurgaon. Other important medical institutions include Max Hospital at Sector 29, Privat Hospital at MG Road, Paras Hospital at Sushant Lok and Neelkanth Hospital at MG Road.
  • Commercial Areas: There are several markets located in various parts of Gurgaon, which range from local commercial zones to high-end shopping arcades tucked along the swanky locales. Important markets in Gurgaon include Galleria Market at DLF Phase IV, HUDA Market at Sector 56, DLF Phase I Shopping Market, Sadar Bazaar in Old Gurgaon and Vyapar Kendra Market in Palam Vihar.
  • Workplaces: Being the corporate hub of the National Capital Region, Gurgaon has hundreds of workplaces operating in different parts of the city. DLF Cyber City located along NH-8 is a perfect example of a modernistic business park, and there are office spaces around Golf Course Extension Road, Udyog Vihar and Gurgaon Business Park.
  • Recreation Hubs: Gurgaon is dotted with malls, which serve as major entertainment hubs, and no matter which part of Gurgaon you are located in, you are sure to find a shopping mall just a short drive away. Ambience Mall at Ambience Island, MGF Mall at MG Road, DLF DT Mega Mall at DLF Phase I, and South Point Mall at Sector 43 are some of the popular malls in Gurgaon.