Gurgaon has one of the most dynamic and fastest-growing real estate markets in India. The property market here can be tricky to navigate due to several myths and misconceptions that can mislead buyers, sellers and investors alike. Laveek Estates is dedicated to debunking property myths in Gurgaon and offering expert guidance to empower clients in making informed decisions. Let us take a look at some of the most common misconceptions.

1.   Real Estate Investing Is Only for the Affluent.

One of the most recurring Gurgaon real estate myths is that only the economically well-off can afford to purchase property in The Millennium City. In truth, there are several ways to do this without breaking the bank.

• Affordable options – Gurgaon has several affordable housing choices for the middle class. E.g., sector 102 along the Dwarka Expressway, sector 85, etc.
• Installments – Many developers offer flexible payment plans.
• Many financial institutions offer home loans and mortgages with reasonable interest rates.
• Co-investing with friends or family members can reduce the financial burden.
• Government schemes like the Pradhan Mantri Awas Yojana (PMAY) and the Haryana Affordable Housing Policy are making housing more accessible to the masses.
• Small businesses and entrepreneurs can even invest in affordable commercial real estate like shared offices, small commercial units and co-working spaces.

2.   Investing in Property Is a Gamble.

As is the nature of any investment, real estate investments also carry a certain degree of risk. That being said, proper research, due diligence and a calculated strategy can make real estate investing a stable and lucrative option.

Additionally, one of Laveek Estates’ real estate facts is that the property market in Gurgaon has witnessed incredible growth over the past decade and is poised to keep flourishing. Consider the following –

• The city’s economy is booming, driven by its roaring IT and business sectors, which ensures a stable demand for housing and commercial spaces.
• The continued expansion of infrastructure, especially metro and highway connectivity will ensure that property and rental values will be enhanced.
• The government’s Affordable Housing Policy is set to attract a new category of investors.

To mitigate risks in the Gurgaon real estate market, invest in well-established areas and with reputable developers, diversify your investments in different asset classes and locations and stay up-to-date with market trends and policy updates.

3.   Prime Locations Are the Only Viable Investment Options.

Another popular real estate myth in Gurgaon is that only established neighborhoods offer worthwhile investment opportunities. While elite districts do have an undeniable appeal, the reality is that many such locations are already near or at their price peak. Emerging areas like Dwarka Expressway, Sohna Road and New Gurgaon offer much more affordability, high growth potential, infrastructure development and reduced exposure to risk due to affordable investment requirements.

In addition, venturing into emerging areas has many added potential benefits – portfolio diversification, higher rental yields and favorable government initiatives.

4.   Only Invest in Real Estate When There Is an Upswing.

The belief that you should wait for a bullish market before making a purchase is another oft-repeated false belief about the Gurgaon property market. The fact of the matter is that during downturns it is much easier to find undervalued properties, offering higher potential returns. Upswings can also be wildly unpredictable, making finding the perfect time rife with uncertainties. Also, in the case of long-term investments, market fluctuations don’t matter that much.

Another way to look at the issue is to focus on your financial health and status instead of on externalities which you cannot control. If according to your calculations, it is a good time to invest for you, then you should probably go ahead.

5.   Focus on the Features, Not the Brand.

A widely held Gurgaon property market misconception is the view that brand names don’t matter. It is true that blindly following brand names can lead to overpaying and can blind you to better value elsewhere. However, dealing with an established and reputable brand has lots of undeniable benefits –

• Maintenance of rigorous quality assurance protocols.
• Properties which hold their value exceptionally well and are highly liquid.
• Provision of upscale amenities, meticulous maintenance, and exceptional service, elevating the quality of life.
• High investor and homebuyer confidence, minimizing the risk of project delays or quality problems.
• Easier to secure financing.
• Higher rental yields.
• And of course, the associated social status.

While, it is always advisable to perform your due diligence before any investment, there can be no denying that dealing with a developer of high repute comes with undisputable advantages.

6.   One Real Estate Agent Is as Good as Another.

The belief that real estate agents are identical and interchangeable is an additional false belief about the Gurgaon property market. The truth of the matter is that not all real estate agents are created equal.

• Different agents often have specific areas of expertise, whether in particular localities or in categories such as residential, commercial, or industrial properties.
• Top-tier agents boast vast connections and partnerships with developers, unlocking privileged access to unseen opportunities and coveted properties, early bird discounts, priority bookings, etc.
• Certain agents possess specialized certifications, such as RERA or NAR, signifying enhanced expertise and adherence to strict ethical codes.
• Some agents will harness technology, such as CRM tools or virtual property experiences, to elevate the real estate transaction process.
• The best real estate agents will also offer additional services such as personalized services, market analysis and post-transaction support.

Conclusion –

Gurgaon’s real estate market presents a wealth of opportunities, but it’s also plagued by many misconceptions that can result in costly errors. At Laveek Estates, we’re dedicated to clarifying property myths in Gurgaon, and ensuring that our clients receive the most authoritative and insightful guidance in this highly dynamic market. Whether your primary objective is to buy, sell or simply invest, you can rely on the experts at Laveek Estates to help you conquer the real estate terrain in Gurgaon with precision and confidence.