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.
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in Gurgaon |
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