Gurgaon: One of the fastest-growing economy of the world with nearing million literacy rate make India a leading destination of Real Estate Investment .
The city of Gurgaon in India is one of the fastest growing city in the country, this city has gained credentials as one of the most favored locations in the country for investing in real estate. Gurgaon is in the state of Haryana, southwest of New Delhi; in the last few decades, it expanded economically as well as in terms of population density and is, therefore, a contemporary cosmopolitan city. This rapid development accompanied with many other inducement factors makes Gurgaon a concentrated area for real estate investors who are eager to invest and milk on the continuing growth of India.
Seven reasons why you should invest in real estate in Gurugram
Here are 7 important reasons to invest in real estate in Gurugram:
Increased economic activity and employees’ demand for jobs
New Gurgaon has rapidly become one of the prominent financial and IT destinations in India and has become headquarters for Indian wings of various organizations. Large international corporations and a strong emergence of start-ups. The GPD of the city has risen to incredible heights in the recent past and it has achieved a growth rate of over 10% per annum unlike the national average rate. Economic development has therefore experienced a rapid growth and this has partly been accompanied by increased employment opportunities. They have developed major stem of education and employment in IT, Financial Services, Consulting & e-commerce Gurugram was able to create lakhs of new jobs.
Entry of new players and persons in the working field have paved way to high demands of housing in Gurugram. Young employees in their productive years are moving to the city in large numbers thus turning the market for rented housing units and ownership as highly demanded. This strong employment and population growth gives a real estate investor good foundations from which to exploit increasing property values as well as rental income.
Infrastructure Improvements
Also Read:- How Residential Property in Gurgaon Becoming the Top Choice of Buyers?
In the past few years, the municipal government of Gurugram has made immense large investments to develop new and advanced infrastructures as the city’s growth pace is quite fast. The following are some of the areas of improvement; construction of new highways, viaducts and the metro lines in order to help reduce traffic jams. There have also been improvements in the sector of electricity, water and sewerage through new investments.
Also, several new commercial and Retail centers have also been established in the city to offer better facilities and live hood to the people of the city. Large scale facilities like the Cybercity have helped Gurugram grow into a new age technologically rich city.
These infrastructure developments have made Gurugram a more habitable and attractive place turning it into more residents and commercial investors’ propose destination. In this case, premises, which are situated near transport facilities and health and leisure centers, recorded a faster increase rate.
Attractive Property Prices
Thus, while Gurugram is regularly surpassing India’s economic growth rates, the cost of property here is much lower than in other large Indian cities, for example, Mumbai or Bangalore. The price of a residential property within the city ranges from ₹5,000-SQ.ft to a maximum of ₹7,000-SQ.ft unlike the posh localities in India’s largest city that on an average goes for ₹10,000-20,000-SQ.ft.
This provide the investors a good chance to invest in the Gurugram property before the prices of the property goes up again. Some of the properties that are situated within the regions and neighborhoods within the city are bound to have relatively cheap prices with the prospects of making handsome profits in the long-run.
Diverse Real Estate Options
It is for this reason that we see that Gurugram has multiple options which are available for real estate investment across price segments. Starting with sophisticated sky scrapers to simple housing accommodations, all sorts of properties are available in the market to suit the investment needs.
The city also has several big mixed-use real estate development projects with components of residential, office and retail. These integrated developments afford the investor a chance to gain a chain of complexes since they focus on the diversification of the real estate in a single region.
Gurugram also have abundant & ready stock of rental houses, which also provides great opportunity for those who want regular house renting business. Established with young professional and families moving to the city searched for homes, the property owners can always find tenants.
High Rental Yields
Talking about rent yield, Gurugram allows investors to generate pretty high rental returns on their properties. The usual rental yields in the city range from 3-5% per annum, which is reasonably healthy as compared with other large Indian cities’ property markets.
This is because, on one side we have healthy renter activity, and on the other, property prices remain fairly affordable by historic standards. With more organizations and learners migrating into Gurugram, the probability of higher rentals will continue to prevail, hence enhancing the probability of rental income for property savers.
Selecting the right property in Gurugram can be a good source of regular income in the form of rental which can act as a good diversifier to the Investors portfolio returns.
Value Appreciation Potential
Thus, apart from rental income, property investors within Gurugram can also unlock the appreciation value of their properties as well. As the city expands at a fast pace, and people keep moving in in large numbers, the demand for the houses is expected to continue rising in the future thus the prices rising as well.
Experts are of the view that house prices in Gurugram for residential sector could easily move up by an average of 10-15 per cent per annum in the next few years. Real estate in the best locations and compounds will possibly have even better appreciation rates in future.
Therefore, through this appreciation in values, together with the rental income, real estate investment in Gurugram is an ideal option for wealth creation in the long-run. This view holds that based on the vitality of the city’s economy, a property purchased today could well become more valuable in the future.
Supportive Government Policies
The Haryana local and state government has formulated different measures and programs to boost the investment and real estate development in Gurugram. Some of them include; reducing bureaucratic procedures in the approval of projects, offering tax relief and enhancing on physical infrastructures.
The state government has also laid down plans of several new real estate projects and industrial estates to support the growth for both economic and population in Gurugram. This has helped to enhance a business friendly environment that has assisted the real estate investors to reap from the dynamism of the city.
Conclusion:
All in all, Gurugram is highly favorable for real estate investments as the result of emerging economic environment, favorable and cheap property prices, stable rental income, and Liberal government policies for real estate industry across the country. Being among the most dynamically developing cities in India, it incontestably possesses a highly sustainable prospect for rental income revenues as well as remarkably high long-term capital gains.
