Gurgaon is probably the most lucrative investment opportunity in NCR currently, due to the unique combination of its large, undeveloped land parcels and the fact that it is a burgeoning, cosmopolitan, commercial hub. It has become such a hot property that investors have been literally flocking to fund and buy projects there. In fact, investments in the area clocked a whopping $1 billion this year, which is a straight up doubling of the $500 million in investments in 2015. Land accounted for 42.55% of the total investment pie, followed by residential assets at 42.1%. Rented office properties brought in the smallest portion of the pie, registering only 15.3% of the total investment.
Thanks to its cosmopolitan status and swanky development, Gurgaon also gets a lot of interest from International Investors and Corporates.
Some of the largest transactions in Gurgaon include M3M acquiring 180 acres from Sahara Group for $180 million for a residential project, and RMZ/QIA purchasing a 730,000 sq. ft. IT Park from BPTP for $180million. And Tata Realty and Infra acquired a 25-acre IT SEZ land parcel from M3M for $60million.
The entry of MNC offices has given a boost to the demand of residences in Gurgaon, which in turn has led to a spurt in the number of market players. More people are looking to move to this emerging hub, than ever before. From middle class families to the upper crust of the society, a lot of families are looking at making this new age city their home; resulting in the development of residential projects aimed at various price points. With projects like the luxurious , and affordable housing complex 'Aangan', industry giant Adani Realty has tried to target every price point.
All in all, Gurgaon is set to become the next best option for property developers to place their bets on. The city is growing by leaps and bounds, with tremendous growth in both residential and commercial sectors.
Home sales in India's top eight cities grew 9% in the quarter to June compared to that a year ago, marking the third straight quarter of expansion and indicating green shoots in a market emerging from a prolonged downturn, according to property research firm Liases Foras.
The growth was led by cities including Ahmedabad, Hyderabad and Kolkata, where home sales went up 20%. The national capital region, which includes the large markets of Gurgaon and Noida, saw a 12% increase in home sales while Mumbai recorded a modest 2% growth.
On the other hand, Pune, Chennai and Bengaluru witnessed sales decline by 8%, 4% and 3% respectively.
The weighted average price during the quarter increased 4% year-on-year to Rs 6,660 per sq ft, with the maximum increase reported in Ahmedabad at 11%, while Chennai reported 8% and Hyderabad 6%. The Mumbai market saw prices remain flat while NCR saw a drop of 3%.
Residential Projects in Gurugram -
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