Residential Properties in Gurgaon in High Demand

Gurgaon is the most luxurious suburb of India with flamboyant skyscrapers and neon-flashing malls. Which now emerged as an industrial and information technology hub, is often called as ‘Millennium City’.

According to the reports of Bank of America Gurgaon has the lowest unsold inventory of unsold flats in the country but still it will continue to show strength on the back of rising numbers of end-users and investors. It is becoming a commercial hub; people are compromising on address and preferring better conveniences over South Delhi.

Residential property prices on the southern peripheral road connecting to National Highway 8 have seen substantial rise in graph over the past few months. This location holds great investment potential thanks to enhanced connectivity that NH8 provides to Manesar and Dwarka. As prices soar in upcoming locations ofResidential Properties in Gurgaonsuch as Golf Course Extension, Sectors 70 and Sector 78, buyers have been looking at these alternate locations.

Gurgaon is expected to see a residential property supply explosion. There are 55,000 ready flats today. We expect to have around 6000 ready flats by end of 2012, with an additional 65,000 by the end of 2014. Another 20,000 in 2015 will take the final tally to almost 150,000 by the end of 2015. Out of the total supply, properties which offer locational advantages in terms of vicinity to airport and Metros connectivity will have better absorption.

Gurgaon remains promising for office space as Global companies showing interests in setting up their organizations. On the whole, this foretells the story of growing residential property market, more or less assuring relatively healthy absorption of residential space in the times to come. The new infrastructure initiatives of the Government will also help in the growth of city’s Residential Properties in Gurgaon as well as commercial property sectors.