Real estate market of Gurugram has always been promising. We take you through a popular location- sector 83 and understand how realty market is moving there.
This new emerging sector is witnessing a buzz in property market with ample housing options to choose from – luxurious flats, row houses, villas and townships. When the realty market in other places of Delhi-NCR nearing stagnation, the property prospects of this region are still considered favourable. This is also visible in the significant increase in property prices in the sector.
According to the Happykeys Property Price Tracker Report – the realty prices in sector 83 was Rs 6,800 per sq ft in January 2016 which rose to Rs 7,000 per sq ft in September later. This scenario validates the high demand for flats in Gurugram’s sector 83 has been increasing. This rising demand for apartments in the area is backed by the establishments of IT and BPOs offices in locality.
Happykeys takes a look and describes why demand for flats in the area has been rising in Gurugram’s sector 83:
Growing commercial hub in the vicinity –
The improved civic infrastructure and excellent connectivity via nice road in sector 83 increases the scope for commercial real estate market in the locality. The infrastructure of the area is good, hence inviting more and more companies to set up their offices. The giant multinational IT companies such as HCL and Adapt software Ltd. have already established their offices in sector 83. This scenario has led to an increase in demand for open plots in the sector.
Buzzing with residential estate activity –
The sector 83 residential market is mainly dominated by end-users, due to high supply of flats and apartments. The demand for high-end luxury apartments in the area is driven by working professionals in the locality which are mainly IT class with handsome source of income.
Some key developers who have their ongoing projects in sector 83 include Emaar MGF, Vatika and V Square. Some of the real estate projects lined up by these builders include Lifestyle Home and City Homes by Vatika Group, Paradise by Mapsko etc.
The average price of an apartment in Sector 83 is Rs 5,100 per sq ft with built up area ranging from 500 – 3,745 sqft. Currently, there are 6 projects in progress in and around Sector 83.
Shopping malls & entertainment –
Popular shopping centres around Sector 83 include Mega Mall and Central Mall. Recreational spots around the locality include Appu Ghar, Sultanpur Bird Sanctuary, Tau Devi Lal Bio Diversity Park and 32nd Milestone.