Property Value In Gurgaon Growing At a Rapid Speed
Gurgaon is one of the rapidly growing region of NCR which has seen a drastic developmental change in terms of property since past few years. Being bordered by Delhi it has become a base for IT sector and various industries, which attracts people to enroll into property in Gurgaon. Within these few successive years, India and its citizens have seen a great impact on the economic strategy of the country. The economic growth is certainly dependent on the development of different sectors that are highly established and even are growing rapidly. Haryana is such a state that is the political center and with the industrial sector in its vicinity. The recent declarations of the cities as smart cities have raised the access ratio to the cities; many people are viewing their future in the state with the growing developments. With the growing access possibilities, several sectors like industrial, technical and financial sectors are starting up several new ventures in the selective cities of the states.
Location plays an important role while deciding on investing in properties. Most of the people choose a place which is quite close to the metro cities that assures all facilities. It is also very easy to track the property value in the capital and its nearby regions, like Gurgaon. Also, the growth of Gurgaon real estate has attracted people from all over the world. The government has shown major attention in growing Gurgaon as a well-developed city. There is immense development in the social infrastructure facilities in Gurgaon such as national highways, metro rail, schools, hospitals, etc. This is a good assurance for someone who resides abroad that the property values of the location will continue to remain stable if not appreciate. Currently the price of properties in Gurgaon starts from around Rs 3000000 while the average price of properties in Gurgaon is Rs1.66 crore. There are nearly 90 localities in Gurgaon which are showing an upward price trend.
Gurgaon is the hub of the service industry in NCR, and surrounding areas are becoming increasingly important in the manufacturing sector. The government's 'Make In India' initiative will ensure more industries, and this will directly result in increased housing demand. One must remember that several companies have now been shifting their base to Gurgaon or the outskirts of the satellite city as the commercial rentals in Delhi have skyrocketed.
So far as the future growth prospects of New Gurgaon is concerned, "as the city of Gurgaon is growing, there is an ever increasing pressure on the existing infrastructure. The need of the hour is to develop newer areas on priority. Since the pace of development has picked up at New Gurgaon, it’s expected that it will reach new heights of urbanization.