Gurgaon is a fast-growing city which is just the southwest of New Delhi located in Haryana. It has become a leading industrial hub with rapid urbanization. The progress in its every sector has triggered new opportunities which complement the surge of advancement in real estate. Skyscrapers reign the skyline, high end shopping complexes for new generation, restaurants of all types and a rapid new metro system fascinates the investors to its further developments in upcoming affordable housing projects.
With its shiny buildings and rising economy, Gurgaon is often portrayed as a symbol of a rising "new" India. Now, it boasts over a million inhabitants, office complexes housing companies from Accenture to Xerox. The futuristic city has local offices for more than 250 Fortune 500 companies but historically called “GURUGRAM” whose economic growth began when the leading Indian automobile manufacturer Maruti Suzuki India Limited established a manufacturing plant in 1970s. That’s how the city developed its dominance as a corporate hub for various companies.
With no doubt, Delhi's Indira Gandhi International which is just across the border of Gurgaon, adds to its popularity. The yellow Line of the Delhi Metro serves to the northeastern part of Gurgaon which runs from NH-8’s IFFCO Chowk to Connaught Place. Gurgaon also has a small railway station on the Delhi-Jaipur line, but it only receives almost five trains a day.
It is an ideal place to spend the weekend with family and friends for numerous leisure activities like Go Karting, Bowling, Pool etc. along with a classy bar, a casual café, etc. It is abounded with malls such as MGF Mega City, DLF Grand Mall, Ambience Mall and frequently many special events and promotions take place.
Due to sustained occupier’s interest, there has been a robust demand in office market and also witnessing the growth in residential segments. It provides affordable homes in Gurgaon with improved infrastructure and expansion of civic amenities around NH8, Golf Course Road and Dwarka Expressway. It leads to get significant investments which have an impetus to its growth. The emerging areas of Gurgaon offer many excellent opportunities for residential flats along with commercial buildings.
Today, Gurgaon has expanded more than 70 percent during the past decade to more than 1.5 million people as it is one of the India’s fastest growing districts. The connectivity is great especially in Golf course road and National Highway-8 location.
The rapid infrastructure development has given a doorway in the market for expansion in affordable housing projects in Gurgaon and intrigues new investors to make establishments. The long-term demand for affordable homes in Gurgoan along with burgeoning office market continues to be strong in near future. Most of the demand and supply for residential property has been shrunk in the mid-end to high-end segments. It is indicative of a revival in the affordable homes in Gurgaon.
The economic growth is often the product of a private sector improvising to meet the modern adequacies of the city. At times of electricity blackouts, Gurgaon's companies and real estate developers operate massive diesel generators which are capable of powering small towns. Companies employ hundreds of private buses and taxis for easy conveyance to their employees. Gurgaon is a patchwork of private islands more than an interconnected city.
With rising global influence, people expect to dwell in such an ever-growing landscape with all amenities. Real estate values have risen sharply in the city that the demand for affordable homes in Gurgaon steadily increased, followed by demand for commercial space as multinational corporations began arriving to take advantage of India's emerging outsourcing industry. Outsourcing requires massive workspace for thousands of white-collar employees.
Companies still tend to move towards Gurgaon because the city's commercial space is more modern, more abundant and far cheaper than that in New Delhi, while Gurgaon is also a center of attraction for India's best-educated, English-speaking young professionals, the essential raw material in the outsourcing business. And there is the advantage of a concentration of expertise: in the past decade, Coca-Cola, PepsiCo, Motorola, Ericsson, Nestle India and other foreign and Indian companies have opened offices in Gurgaon.
Other cities want to match with Gurgaon's growth and dynamism. Gurgaon is already building an industrial district and planning to create more commercial space for the influx of more new companies and builders. It has become a pacesetter for present generation to shape up their future.
