Gurgaon needs no introduction as a prime location for both residential and commercial real estate projects. Both MNCs and Indian companies have invested in terms of infrastructure and this has resulted in exponential commercial growth in this region. Presently, there are many new commercial projects in Gurgaon which are underway. So, should you invest in any such project? Does buying commercial property in Gurgaon holds the same value as it used to earlier?
Well! Take a look at this report published on etrealty.com, “Gurgaon remained the preferred choice for opening offices in the National Capital Region (NCR) among companies, grabbing 51% share or 3.88 million square feet of the total office space leased in the region in 2016.” Another report by Colliers International gives a detailed account of the property trends in Gurgaon (Gurugram).
It says, “Driven by a handful of mid-sized space requirements (less than 100,000 sq ft), gross leasing volume was recorded at nearly 0.9 mn sq ft (83,600 sq m) marginally up from last quarter numbers. As forecasted in our earlier report, Golf Course Extension Road started witnessing traction. In Q2 2017, Golf Course Extension Road gained a significant share of total leasing volume, accounting for 37%. This was followed by National Highway 8 (NH8) with 18%, Udyog Vihar with 14%, MG Road (12%) Cyber City (9%) Golf Course Road (7%) and other micro-markets (3%).”
Studies and predictions such as these provide positive indications in terms of how value-additive it is going to be to invest in a commercial projects in Gurgaon. There are several reasons why you should buy property in Gurgaon.
Infrastructural Development: Urban infrastructure in and around is being expanded and improved. For example, NH-8 is going to be widened, expected completion of flyover at Hero Honda Chowk by 2017, and declaring the entire stretch comprising Southern Peripheral Road and Golf Course Extension Road as the National Highway 248.These developments are sure to improve connectivity to far-off areas in Gurgaon further. This means that investing in commercial property which aren’t at prime locations is still likely to fetch profit in the long run.
Ascendas-Singbridge Special Economic Zone (SEZ): Just like Noida, Gurgaon too will have a SEZ by the end of this year. Located near Sector 59, this 60-acre zone will provide office-space with world-class facilities. Investing here right now is very much likely to bear fruit as many MNCs are expected to pay for this space once the project gets completed.
Stable Prices: Demonetisation led to price-crash in the real estate industry. During this scenario, though there was a period of muted demand for some time. All in all, Gurgaon was one of the very few cities wherein the prices remained stable. “Fundamentals driving Gurgaon’s market are strong. Nearly 5 million sq ft office space was absorbed in the past three to four years. 2017 should see this trend continue — in part due to lack of quality office supply in Bengaluru, Pune and Hyderabad,” says a report published on economictimes.indiatimes.com.