Gurgaon property attract the buyers due to hosts of benefits

Gurgaon, being the industrial and financial hub of the Indian state of Haryana, hosts a plethora of blue chip companies, MNC’s and IT firms. In the past few years, the satellite city has gained momentum mainly because of the IT boom. This factor has also significantly contributed in the growth of real estate in Gurgaon.  There are several other factors that have fueled the demand of Gurgaon property.

Gurgaon has emerged as one of the most promising locations in India to start an industry. The major highlight of the city is its stable law and order set-up backed with a serene environment.   On the back of these advantages, the city has managed to attract several multi-national companies, foreign investors, NRI and rich business tycoons.

Gurgaon boasts of a robust social and civic infrastructure with a good number of esteemed colleges, big hospitals, shopping centers and many more.  Moreover the awe inspiring malls and  plenty of food joints invites the people to spend a fun filled day and tickle their taste buds.  All these factors have boosted the demand for real estate in Gurgaon with many people showcasing their interest to invest in this satellite city. Gurgaon is expected to grow further with several infrastructure projects in the pipeline. Due to the increasing number of SEZs, the satellite city is now on the brink of being called a separate 'SEZ country'. From housing complexes, express highways and special economic zones , Gurgaon perfectly epitomizes the massive developing nature of India's economy.

 Apart from this Gurgaon also offers a robust road, rail and air connectivity. IGI airport is located in the vicinity of the city and is also well connected to major express highways. Rapid metro makes the commute smooth and easy for the people within the city and also cut down the traffic woes. Hence, upcoming projects in Gurgaon has a seen a great demand on the back of improved connectivity, excellent infrastructure and burgeoning industrialization.  There are many upcoming hotspots in Gurgaon that invites for a lucrative investment.  Captured below are two such hotspots that makes a promising investment destination.

NH8, Gurgaon 

 Although the area has not witnessed much developments in the recent past, developers have already started purchasing land tracts around the west end of the NH8 highway. Gurgaon is located to the east of NH8. The highway is a part of the Delhi–Gurgaon Expressway and the NE1, and the land around the highway is slowly being converted too high-quality commercial and residential areas. Another highlight of the highway is that it  is well connected to the Indira Gandhi National Airport, and soon it will connect to the Gurgaon–Faridabad Road,  boosting the further connectivity.

Sector 43, Gurgaon

 This is touted to be one  the best areas in Gurgaon due to its close proximity from the DLF Golf Course. The area is a prime commercial area with office parks, hotels and malls. The area also hosts a spate of multi-storey apartments, residential bungalows and other residential properties.  The prices here are relatively high due to posh localities.

Real Estate in Noida – The Black Diamond of Indian Real Estate Sector

Real Estate in Noida has had its ups and downs over the years and somehow never settled as a stable market. Controversies regarding Residential projects in Noida keep cropping up every few months; which leads to insecurities in the market. Noida as a real estate destination has been in existence in NCR much before Gurgaon, however it has never been able to command a leader’s position. There is no doubt that infrastructure wise Noida is much better than any other city of NCR, but is unable to command the value it is worth.

Real estate in Noida has been plagued with corruption charges, non-adherence to norms, delays, cheating with investors etc. All these issues increase the trust deficit between the developers and end users and create a negative impact on the real estate market in Noida. Initially, Greater Noida and Greater Noida Extension have had their share of land litigations which delayed the real estate expansion in Noida. The arrest of Chief Engineer of Noida/Greater Noida/Yamuna Expressway by CBI, for corruption and allotment of projects to selected vendors, further demonstrated the extent of corruption in real estate in Noida.

All the big builders like Jaypee and Supertech have been in controversies for one reason or the other in Noida. The courts have ordered Supertech to demolish the Apex towers for illegal construction; Jaypee has been fighting against huge time delays in their prestigious Wish Town Project; The latest being scrapping of the Upcountry township being constructed by Supertech on Yamuna Expressway, due to forgery. Such issues have immensely dented the reputation of real estate sector in Noida. Another, major issue with real estate in Noida and UP in general, is the political interference and personal interests involved of vested parties; who control the real estate or land mafia in the background. These manipulations finally have a very huge impact on the market sentiment.  

Luxury apartments in Noida has retained its market share as an end user market and therefore has been able to survive all the upheavals. The property prices in Noida have maintained the ‘middle class’ range and therefore are still attracting potential investors. However, the growing trust deficit due to cheating and non-adherence to norms is impacting the real estate sector in Noida and heralding a negative sentiment in the market, which will further lead to alienating the individual investor.

This aspect needs to be arrested at the earliest and can be best handled by the real estate developers themselves. In case, this negative sentiment is not nipped at the earliest, Noida might witness the worst slump in the real estate sector. There is huge inventory lined up and under construction in Noida and its suburbs, add to it the prevailing slow-down in the real estate sector in India; real estate sector in Noida cannot afford to take the end user for granted and continue with its unethical practices for long, unless it is planning for its end game.