Gurgaon the hub of all IT industry and services is going to prove a new milepost in the real estate industry in India. Amongst the predominant suburbs Gurgaon serves the investors at best with the appreciable returns since three decades.
Gurgaon also referred as the ‘Millennium city’. The bid for the new housing complexes is experiencing a slowdown consecutively for the third year a report by Bank of America Merrill Lynch. In spite of the gradual decline it had no reflexes on the property prices in Gurgaon. An appreciable growth of 4.5% was reported in the time period of three months. The property prices in Gurgaon will heed northwards in spite of the depreciation in the demand trends.
New Gurgaon is one of the promising locations in Gurgaon. The price trends on New Gurgaon have been confronting numerous falls and rises. The area is privileged as any corner of the city could be reached with immediacy. Moreover the property price is going to show a remarkable growth in coming years. It is reflected by the demographicvalues as the price per sqft was RS. 4446 in Oct-Dec 2012 quarter then it hiked up to Rs 4500 in the quarter of Jan- Mar 2013. In the Apr-June quarter 2013, the property price went up to Rs. 4548 per sq.ft. So a gradual growth in the property price trends can be seen.
In a last few years, numerous developers had a hope Gurgaon will prove to be a growth engine of the real estate sector as well the investors for the same. The real estate biggies are planning to build residential complexes symbolizing splendour and comfort especially targeting the NRI audience.