Although, the scenario in the Overall Indian Real Estate Market appears to be gloomy, there are some localized pockets where a lot of activity is being seen due to the developmental potential of that particular pocket. Gurgaon is one such location. The property prices in Gurgaon are straddling the horizon once again in keeping with the renewed interest of the bigger Real Estate Developers in this area. The well known names in real estate development have started showing renewed interest in Gurgaon, because they feel that there is a lot of developmental potential in the area. Additionally, a spate of enquiries has been witnessed in this pocket from the NRI population living abroad.
This location was earlier dominated by regional players, but now with the interest shown by the NRI population in the area, big developers have also started buying large parcels of land in the area. In fact, Gurgaon real estate seems to be spearheading the development process in other parts of the country. The prime reason for this interest from NRIs is the improving infrastructure, business environment along with the changing demographics of the people in this cyber city. With major MNCs setting up their offices in Gurgaon, this area has become a major hub for them.
Due to this renewed interest from the MNCs, there is no shortage of funds to construct in this region. Additionally, Gurgaon is coming to the fore as an area offering high returns on property investments on hand. Gurgaon is agog with development whether it is of a commercial nature or residential real estate. With young people working in the MNCs increasing the demand for residential real estate in Gurgaon, there is a need for such developments in the area. Real Estate Market in Gurgaon is right now a buyer’s market with few projects being chased by renewed demand.