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Just like the additional areas of Delhi NCR like Noida, Ghaziabad, Sonepat, and Faridabad, Gurgaon too has experienced tremendous influx of people, heightened infrastructure, and enhanced connectivity. These have resulted in a plethora of new projects in Gurgaon to woo buyers across all domains – residential, retail, and entrepreneurial. The projects belonging to real estate majors like Unitech, DLF, and Eldeco are the most desired as they come in prime locations and feature solid all-round infrastructure.

The requirement for property in Gurgaon revolves around certain key localities – Sushant Lok, HUDA City Centre, and regions close to the HUDA, MGF Mall, and Sultanpur metro stations as well as the location around IFFCO Chowk. New projects in Gurgaon announced in the aforementioned localities are, consequently, relatively expensive. To offset this, developers are carrying various offers and discount schemes to attract buyers.   

The aforementioned prime areas of Gurgaon are largely populated with middle to high-revenue individuals with boosted spending potential. Not only do these individuals own property in Gurgaon for residential purposes, they also purchase real estate for investment and re-use. This phenomenon maintains a constant demand for new projects in Gurgaon.

Gurgaon is also indisputably North India’s preeminent entertainment centre with numerous high-end malls, multinational retail chains, restaurants, hotels, cinemas, and show arenas situated here. This is a crucial factor that has led to Gurgaon’s emergence as a real estate champion.

There are a few minor stumbling blocks concerning property in Gurgaon. The government has been revising circle rates upwards consistently. To compound this, home loan interest rates are on the steeper side. On the supply front, builders and developers are increasingly focused on completing pending projects thereby slightly delaying the opening of new flats and office spaces. And for both buyers and suppliers, political policies and uncertainty – with their combined effects on real estate – invariably loom large.

Still, in spite of the above hurdles, new projects in Gurgaon are continuing to show an upward trend. Gurgaon has shown comparatively more demand potential than other parts of the NCR, project inventory levels are also the lowest, and subsequently the speed of project completion the swiftest. The ‘Millennium City’ has certainly come of age.

 

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