Gurgaon is a popular and fast-growing city. It lies at around 35 kilometers from Delhi. It is located in Haryana and is also included under the National Capital Region (NCR). Gurgaon was initially called Guru Gram which says "Village of the Guru". From ancient history, it is learned that the land was first owned by the legendary rulers Pandavas and Kauravas, who later presented it to Guru Dronacharya.
Leading Indian automobile manufacturer Maruti Suzuki India Limited had set up a manufacturing plant in Gurgaon in the 1970s. Following this, the city started witnessing tremendous growth. It is one of the biggest rapidly growing cities in India. The city has the potential to be a superpower in the coming times. Those who are residing there are aware of the fact that how fast his city is adapting all the modern techniques and cultures. OIt would be very beneficial if you will buy some properties in this city. Know the details about the kind of properties available in Gurgaon, through our article.
Gurgaon is primarily an investor-driven market. Factors like proximity to Delhi and an international airport, availability of land parcels, employment opportunities, industrial development, favorable tax policies, etc. have paved the way to the real estate boom in the city.
The prime micro-markets of Gurgaon include NH-8, MG Road, Golf Course Road, Golf Course Extension Road, Manesar, Dwarka Expressway, and Sohna Road The city provides different highrise living in apartments and flats. Properties for rent are also available with ample options of flats, apartments, and villas. The following are some of the key localities popular concerning the Real estate in Gurgaon.
Gurgaon is the second largest contributor to NCR's residential market. The micro-market holds 24 percent of the under-construction units. Gurgaon's residential real estate market caters to all segments of the target audience as it offers properties ranging from one-bedroom flats to luxury villas and penthouses.
Gurgaon is currently a leading financial and industrial center of India. It is a prime hub of multinational companies, software companies, telecom companies, call centers, shopping malls, multiplexes, and skyscrapers. It is home to nearly 250 Fortune 500 companies. This has led to a huge jump in Gurgaon real estate. Gurgaon has emerged as the city with the third-highest per capita income in India.
The city is among the most important offshoring centers in the world. It houses the Indian corporate headquarters of many leading international companies like American Express, Microsoft, IBM, and Coca-Cola. IMT Manesar is a fast-growing industrial town that is in the vicinity of Gurgaon. It is being called as 'New Gurgaon' by some of the developers since the area is witnessing huge growth. It has employed over 100,000 people.
The city offers a large number of employment opportunities. With Gurgaon emerging as a hub for IT and IT-enabled services, several high-income jobs were created. Apartments, Flats and Villas in Gurgaon are in oversupply due to boom in Gurgaon Real estate.
Reliance Venture and Haryana government are set to establish a multi-product special economic zone (SEZ) in Gurgaon. Japanese companies like Mitsubishi and Panasonic are given large contracts to set up manufacturing and logistics facilities for the special hundred square kilometers economic zone. This ambitious project is likely to create another 1.5 million new jobs in Gurgaon. Gurgaon is also notable for its real estate growth, which brought in a spur in the entire economy. Many renowned real estate developers have set up their companies here.
Gurgaon has excellent connectivity to Delhi through the Delhi-Gurgaon Expressway, which forms a part of the National Highway 8. One can also reach Delhi through the Expressway and Mahatma Gandhi Road (Ring Road) or the Mehrauli-Gurgaon Road. Rapid Metro Rail Gurgaon also boosts the transport system of the city.
The connecting roads to New Delhi have been broadened to clear the traffic bottlenecks. The eight-lane toll expressway is also being extended to smoothen the traffic from and towards Delhi. This good connectivity has further increased the property prices for Gurgaon Real estate.