What makes Gurgaon a hot spot for real estate investors and builders?
Gurgaon is dramatically developing as a hotbed for real estate investment for a long time now. People have started looking for the best places to live that are close to work because of its growing hub for IT offices. However, with so many options readily available based on location, finding a home has become quite simple.
In terms of sustainability too, Gurgaon has a bright future as the city of tomorrow. The growth in all forms of housing development has caught the attention of builders in Gurgaon and investors alike.
The residential market is rife with opportunities as UHNIs, ex-pats, corporate executives, and even non-resident aliens seek luxury residential spaces from reputable and established developers. Due to the low-interest rates and higher return on investment, sales of plots, apartments, villas, and other types of real estate have increased dramatically.
NRI real estate investments in India reached approximately $14.9 billion in FY22, according to market data. The North Indian real estate market, with Gurugram as the most prominent city, was the primary target of this investment. NRIs have been drawn to invest in India’s real estate markets by the depreciation of the Indian rupee, historically low loan rates, and a growing desire to own property domestically.
Infrastructure for Socialization and Health
The desire for luxury homes as a respite from their everyday lives and a reflection of their comfort and grandeur has largely driven the rise of luxury housing. Up to 67% of high-total assets people intend to buy an extravagant home in 2022, as per Sotheby’s Extravagance Lodging Viewpoint 2022. A lot of people are looking for gated condominiums with 24-hour security and modern amenities like swimming pools, tennis courts, badminton courts, and a gym.
Modern Conveniences, Sound Connectivity, and Accessibility
Gurgaon’s flourishing business districts and developed social infrastructure, such as well-known international schools, modern hospitals, numerous shopping malls, entertainment venues, restaurants, hotels, movie theatres, and other venues, are the ideal addition to the futuristic charm of the city for a hassle-free lifestyle.
A vibrant way of life, openness, outside brandishing open doors, vegetation, strolling and cycling ways, and different factors likewise add to the magnificence of this global city. People’s propensity to live close to their places of employment has made the city a highly sought-after residential real estate hotspot, and the concept of “walking to work” works as a catalyst.
A Promising Future
Large spaces surrounded by lush vegetation have gained prominence as consumers’ attitudes toward the residential real estate market have shifted dramatically in recent years. Between January and March of 2022, demand for residential properties increased by 4.6% quarter-over-quarter (QoQ) in 13 Indian cities. According to the Magicbricks PropIndex Report, Gurugram experienced growth of 9.6%. In addition, it is encouraging that the pandemic has reaffirmed the significance of luxury and comfort in residential real estate. The Gurgaon real estate market will reap the greatest benefits in the future thanks to the favorable environment.