Gurugram “The Millennium” City of India, Real Estate Overview

“According to a recent report from financial express Gurugram share 13 present of total sales of properties across top-nine cities in Q4 FY’17 ”

Gurugram is better known as the millennium city of India. It is a city located in the state of Haryana and also falls under the national capital region. It isn’t incorrect to say that Gurugram is one the fastest growing cities in the nation today, which is why it has become the hub of industries and Information technology in present times. Not only Gurugram has the highest literacy rate but also stands as the city with the highest literacy rate in Haryana, at 84.7 percent. The per capita income is also the third highest in India owing to its ever-growing industrial nature and increasing employment.

Gurugram, hitherto known as Gurgaon has developed to become one of the front-running cities of the nation in terms of its infrastructural growth and establishment of connectivity with other cities. It has its own self-financed metro and developed metro connectivity to neighboring cities such as Delhi. This is not just facilitating smoother commutation for people but also bringing more and more workforces to the city. As a result of its infrastructure and availability of space both for the commercial and the residential sector, a lot of realtors have shown the keen interest in the city’s rapidly developing real estate.

The major expressways in Gurugram along with the Rapid Metro, which is likely to extend to the Golf Course Extension Road in the near future are serving as major motivations for people to settle in the city. The proximity to high-class retail stores along with easy access to necessities such as schools, hospitals, shopping marts, malls, police station etc is completely fulfilled by Gurugram at all its locations. These amenities are not fulfilling people’s everyday requirements but also catering to their luxury needs at the same time.

The government policies for the real estate sector in Gurugram have a huge impact on the real estate sector of the state. The reduction in circle rates has come out as the major motivator for both people and builders to come to the city and collaborate with new and innovative projects. Considering other taxes, there are rebates for defense personnel, former servicemen, war widows, widows of freedom fighters, etc. Apart from that RERA Act and GST have further led to boost in the real estate sector of the city, thus encouraging more and more people to look towards the city’s developing projects.

The Properties in Gurugram are building focussing on the living requirements of both affordable housings as well as luxury living. With rising number of jobs in the city, it was best to come up with suitable projects nearby working areas that not only saved a lot of time for the people but also gave them a security of having their own home in a NCR city. DLF builders own a large tract of land in Gurugram, and this is seen as one of the major reasons behind the city’s growth. It is not hard to spot large shopping malls, many large five star hotels, golf courses and outlets of leading fashion brands and MGF Megacity Mall, Metropolitan Mall, Plaza Mall, Ambience Mall, DT Mall are the popular malls in the city. Along with bringing all sorts of joyful activities to the doorstep of the buyer, Gurugram has many projects to offer at enticing prices.