Property Rates in Gurgaon see a Temporary SlideThe rising interest rates have contributed heavily, to the pulling down of property rates in the bustling city of Gurgaon. This is a phenomenon that has reverberated across the NCR; however, Delhi has seen an appreciation in prices.
In most cases, the prices of the secondary market are lesser than the ones in the primary market. The cost of investment has increased as the interest rates have risen. The problem is that investors are unsure of their returns in a short period and in the suburbs the returns on property investment within a one year period are almost zero.
However, for those looking to invest in property in Gurgaon and willing to stick it out for the long term; this might just be the best situation on offer. Industry experts suggest that this is a temporary slide and the property prices would increase, after things have settled down.
The trend is not visible, when it comes to commercial space and demand for such properties is increasing day-by-day. The profits have seen a substantial increase, which means that investors have begun to eye the commercial estate in Gurgaon, with more of an eager eye than before.
After all, Gurgaon is one of the fastest growing cities in India, and its makes great investment sense to purchase property in this City.
Good connectivity is fast becoming one of the core competencies of Gurgaon. It is well-connected by road to Delhi and NCR, which has contributed in a major way to the burgeoning growth of the Gurgaon City.
Revision of Collector Rates Will Affect Property RatesThe revised circle rates, decided by the Gurgaon District Administration have seen the property rates in Gurgaon heading north. However, this quantum jump in property rates would be limited to the areas that come under the banner of New Residential Zones (NRZ).
These zones are essentially, cultivated land areas that are now being used to build residential areas. The rationale behind the revision was to tap into the increasing and highly lucrative potential of growth afforded by the New Residential Zones.
As we have earlier mentioned, property rates in developed areas have already seen a slide, and have not shown an increase, so the circle raters, therein remain the same. The people who will profit from this move are the villagers who own cultivable land, and price rise for such land with be around 200-300 per cent.
Good News for Property Investors in GurgaonMore than 10,000 new luxury flats will make their appearance over the next two years in Gurgaon. Indian real estate giants like DLF, EMAAR MGF and the likes are coming up with their new mega residential projects that are all set to give an added fill-up to the property scenario in Gurgaon.
The Haryana Urban Development Authority (HUDA) is getting into the act as well. They have been given permission by the Civil Aviation Industry to develop sky-scrappers in Gurgaon.It can only be imagined, the good tidings it brings for real estate investors in Gurgaon.