Gurgaon falls in the Delhi NCR region and is a fast flourishing 'Cyber City'. It is also emerging as the corporate capital of India. With more and more multinational companies setting up their corporate offices and outsourcing units, it has also become the leading NCR in the country.
Industrial & Commercial Real Estate: Some of the most expensive and popular commercial properties in the city are Udyog Vihar, IMT Manesar, Global business park, Vatika triangle, Infocity, and Pace City.
Institutional Real Estate: Sector 32, 43, 44, and 46 have been allotted for development for various educational institutions.
Residential Real Estate: Residential properties like apartments, townships, condominiums have been developed by leading developers such DLF, Vatika, Raheja, Omaxe, Ansals and Unitech group.Reasons for Rising Real Estate Prices
- Good Connectivity: Falling in the Delhi NCR region, Gurgaon has good connectivity, which is also one of the main reasons of rising real estate property prices.
- Industrial Development and Growth: The city is now termed as “cyber city”, “Corporate capital of India”, “Outsourcing capital of India”. With most of the MNCs across industries establishing their corporate centres, capability development centres, outsourcing centres, Gurgaon has witnessed an unprecedented rise in real estate prices. The corporate sector has been demanding more and more office space, further aggravating the prices of properties.
- Increasing Working Population: The outsourcing boom in the city has led to a rapid growth in employment prospects and local wages. This has further lead to a fast development of shopping malls, swank restaurants and entertainment facilities. This has again raised the demand for residential and commercial property, thereby increasing the prices.
- Development of SEZs: The government has also started the development of SEZ or Special Economic Zone with an investment of more than $ 40 billion.
- Real state Development: Leading developers like DLF, Unitech, Pioneer Urban Land & Infrastructure, Vatika, Raheja, Vipul, and MGF group are undertaking large residential and commercial projects, which has further increased the demand for land, thereby increasing the property and land prices.
Gurgaon Master Plan 2021 The table explains the approximate residential, commercial and Industrial land that will be made available by the government in the city. The Government plans to allot a large portion of raw land for further development, this should bring down the real estate prices to some extent.
|Residential area||14,930 hectares|
|Industrial Area||5,441 hectares|
|Commercial Area||1,404 hectares|
|Special Economic Zones (SEZs)||4,570 hectares|
The opening of specialty malls like wedding malls, festival city, boutique malls and the gold souk, commercial property prices have also witnessed an all time high.