Commercial Real Estate Trends and Conditions in Gurgaon
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Gurgaon is the commercial capital of Haryana – an Indian state. It is one of the
most sought after destination for multinational
companies, corporate business, investors
and residents as it provides world-class living standards and globally comparable
business houses in the form of Business Centers and IT parks. Real estate business
is growing at a speedy pace in this futuristic city of India. It can be known from
the number of new business and residential houses coming up in the city. Inspired
by growing popularity, the offices are being relocated from unhygienic and congested
industrial zones of New Delhi to this trendy suburb.
Another plus point of this city is its nearness to the International Airport in
New Delhi, the capital of India, that has encouraged a lot of construction activity
by several leading Indian construction companies that include Emmar, Ansals, Vatika,
Unitech, DLF and MGF. Well constructed offices, residential and commercial complexes
have attracted many multinational companies to shift their corporate and back offices
from New Delhi's business centers to Gurgaon.
Shopping malls are the latest addition in the city which has made Gurgaon a preferred
destination for retailers. Metropolitan Mall, Mega Mall, DLF City Centre, Ambi Mall,
Omaxe wedding Mall and soon-to-be launched Vatika City Market have offered a big
platform for the retailers to showcase their business acumen in retailing sector.
These malls house the leading brands, cinema halls and theaters to provide a pleasing
experience.
This commercial capital of Haryana has earned recognition world wide as one of the
best IT and ITES destination. It is the most preferred destination for the corporate
executives and the multinational companies. Lowering interest rates coupled with
the increase in foreign direct investment and a positive stock boom has amounted
to increase activity in the real estate sector in Gurgaon along with Delhi, Noida
and other surrounding areas.
Aside from commercial, corporate and retail space, the city also provides a wide
range of residential properties, including condominiums, villas apartments, independent
floors, duplexes, penthouses and residential plots to cater to everyone.
Hotels and Shopping Malls:
There are a number of hotels and shopping malls which dot the city of Gurgaon. The
best places to stay here are the Trident and Today Crown Plaza hotels. The concept
of Service Apartments is another concept of hospitality that has taken wings in
Gurgaon. Both large and small organized players are providing the best of Serviced
Apartments in Gurgaon. The Leela groups, who will start their hotel operation, have
also developed about 90 serviced apartments located in Ambience Island. Corporate
guesthouses are also coming up to service the demand for corporate accommodation.
Summary: Keeping aside
commercial property in Gurgaon, the
residential sector is seeing a similar rise in its values. As a wealthy city it
is considered to have large purchasing power. A few minutes of travel on the beautiful
highway which connects Delhi to Jaipur will help you believe that all of corporate
India is moving to Gurgaon. On both sides of the eight-lane road nearly 25
very large towers that span 8 million square feet have changed the skyline of this sleepy
town beyond recognition.
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