Where Will Gurgaon’s Real Estate Be 5 Years From Now!
Gurgaon can easily be labeled as one of the “poster cities” of a new India with excellent growth in the industrial as well as service sector. This has resulted in unprecedented employment opportunities and has put the city on global map leading to people thronging to work and live in the city.
Despite the demand for housing, Gurgaon wasn’t untouched by the overall slump in the realty sector in past couple of years, but things seem to be changing now.
Going forward, in next 5 years, the real estate sector seems poised to clock positive growth on the back of following factors:
- Affordable Housing: The government has initiated policy to develop more affordable units that are priced under Rs. 25 lakhs and where the demand is maximum. This has resulted in lot of projects being launched for this segment.
- Completion of Projects: Instead of blindly launching projects, builders are keen to finish incomplete ones so as to adhere to RERA guidelines. This will result in buyers having more options to buy a ready to move-in house.
- Smart Cities and Make in India: These two initiatives will not only invite more businesses to Gurgaon, but the Smart City tag will make it more attractive for potential buyers.
- Infrastructure Development: The government is now actively allocating resources to develop and maintain infrastructure in terms of roads, flyovers, electricity, water, and the likes. This will help in ensuring Gurgaon’s haphazard growth of the past to become uniform and more organized leading to an overall improvement in the quality of life.
- Peripheral Development: Gurgaon is now spreading out to places like Sohna and hectic real estate development along its highways providing world-class infrastructure at attractive rates is wooing buyers like never before.
All in all, Gurgaon seems all ready to grow as a real estate market and create some new benchmarks!
