Almost all of the major metropolitan cities in India are undergoing through a phase of constant development. This trend has helped the cities to spread out and become more advanced with the passage of time. From sprawling apartments to huge commercial complexes, these cities have been built in a manner that is going to prove out beneficial for entire livelihood. Real estate in India as a whole has been under close supervision by authorities and developers so that they can reap profits out of it. Metropolitan cities such as Delhi, Noida, Bangalore, Mumbai, Pune, Gurgaon, etc., have a lot in common when we talk about expansion process.
Since past few years, these cities have been grabbing most of the attention of buyers with the advent of urbanization in the country. Just as people are shifting to big cities in search for job opportunities, they are also contributing in the overall economy of the country. Below are a few trends that depicts Gurgaon’s present real estate bubble-
Cyber hub taking charge of real estate
With an introduction of IT/ITeS companies in Gurgaon, the city has picked up a faster pace of development. Commercial segment being one of the biggest growth drivers has established its base in Gurgaon and the result is Cyber Hub, which is famous for its high-rise office spaces. This particular area of the city was built so as to fill a gap between builders and buyers of not being able to deliver superior commercial spaces. Therefore, just as Cyber Hub was created, it also gave a much-needed push to the residential market of Gurgaon, which was witnessing a bit of a slowdown since quite some time.
Posh villas and apartments becoming a trend
Talking about the residential property in Gurgaon, the city has developed immensely since last five years. Particularly, after the year 2010, Gurgaon expanded its horizons and started taking part in all of the development processes that are taking place till now. More importantly, the city has a potential of utilizing its space and becoming one of the most attractive metropolitan region of the country. By understanding this prospective of Gurgaon, developers also are going to make profits if they are bidding money on projects that are actually required in the city.
Both the commercial as well as residential space is Gurgaon is currently under a development phase, which is likely to continue for many more years to come. It is because of the fact that such exponential developments cannot take place overnight and require their own time and pace to make a mark. Especially in real estate segment, this process becomes all the more important; thus, it is always scrutinized wherever possible.
Real estate in Gurgaon has always been under the influence of modern architecture, which gave birth to various western inspired projects. This trend became a plus point for the city as it also attracted many global investors who were looking out to buy property that is not shabby and has all of the basic amenities. Whether it is the residential segment or the commercial one, Gurgaon has been on the forefront of growth and has all the right factors to further improvise using correct techniques. Hence, realty industry of Gurgaon has still a long way to go but the initial process has already started.