Gurgaon is one of the most successful markets in the Indian real estate sector. It is the proper utilisation of available resources that made this city grow exponentially and reach a level that is a dream for many. The planning and implementation in Gurgaon is state-of-the-art as the plans made have been laid down perfectly to create a plush foundation for the subsequent development. Gurgaon’s proximity to South Delhi, one of the posh locations in India, also added to its advantage. The presence of an international airport in its vicinity proved to be an icing on the cake for Gurgaon real estate market. This is one of the major reasons which inspired worldclass multinationals to operate from Gurgaon.
The rise of Gurgaon has been directly proportional to the country’s economic development. As more and more companies started expanding their operations, they wanted to operate from closer to the National Capital. Delhi could not accommodate them. Delhi’s loss was thus, Gurgaon’s gain! Right from expressways to rapid Metro, from multinational organisations to international schools, from finely crafted skyscrapers to the lush green Aravalis full of natural beauty, Gurgaon has it all.
The growing business of ecommerce is also adding to this its glory. Be it a start-up food chain or an online grocery chain, it is mandatory for them to mark their presence here. Interestingly on a flipside, Gurgaon has a robust affordable realty market as well! Thanks to Haryana Government’s Affordable Housing Policy 2013 which helped developers plan affordable projects in a price range of `15 lakh to `25 lakh for 1-BHK and 2-BHK units.
Affordable projects sell like a hot cake; though margins are not too high, there is no problem of unsold inventories. This hous ing policy has made the city complete; it now has something to offer to every section of the society, be it the affluent class or the aspiring young professionals who are aiming big in their life. The Haryana Government’s Affordable Housing Policy has complemented the real estate market of Gurgaon.
Pradeep Aggarwal, chairman, Signature Global Group, says, “The recent approval to Real Estate Regulatory Bill in the Parliament has further widened the scope of affordable realty in the city of Gurgaon. The Bill provisions the formation of Real Estate Regulatory Authority or RERA which will supervise overall activities and help streamlining the approval mechanism.“
Lalit Aggarwal, JMD, Signature Global Group, shares, “I will put the RERA bill this way, whatever we were practising has now become a law.