Gurgaon Residential Property Scenario
Although the capital values of residential properties in most areas of Gurgaon are very high, investors who had bought properties, especially those of 60 square feet. yard segment, in view of exorbitant returns are now taking a long-term perspective and ready to wait rather than sell in a hurry.
Oversupply
Gurgaon’s premium residential real estate sector is hit by a glut, flooded with $1 million to $2.5 million apartments and penthouses.
According to DTZ reports, the supply side in Gurgaon’s high-end residential segment has far exceeded the demand side.
With this, investors are not seeing the kind of return they had been getting before the deals, which is why their interest in buying residential property in Gurgaon is comparatively lower than it was a couple of years ago, reported MP Singh of Silver Estates. . .
Residential rentals: record boom
The residential rental segment in Gurgaon remains consistently upbeat. Due to its vibrant economy, the lifestyle of residents continues to improve, which in turn translates into a demand for quality accommodation.
On average, a 5 per cent increase has been observed in all major residential areas of Gurgaon between August and December 2007. “The main reason for this increase is availability. Since vacancy rates for good quality houses are low in prime areas of Gurgaon, landlords are able to get better rental values on their properties,” said Rajesh Kushwaha, a property dealer.
lasting perspective
Having experienced an unprecedented boom in the last five years, the chances of short-term gains have evidently diminished in the Gurgaon property markets; however, the long-term picture is bright and sunny.
The cyber city of Gurgaon is among one of the most potential real estate markets in India. A latest survey by Indicus Analytics revealed that Gurgaon is one of the most preferred cities for earning a living and providing unprecedented growth opportunities.
Interestingly, Gurgaon tops the list of best “make money” cities followed by Silvaasa, NOIDA, Faridabad, Rupnagar, Chandigarh, Surat, Bangalore, Gandhinagar and Pune.
Certainly with such positive trends, Gurgaon’s residential property markets are seen as dynamic at least in the long term.
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