For buyers and investors, New Gurgaon is an attractive destination for real estate property. As per PropIndex, new sectors of Gurgaon such as sectors 85-91 have a high residential unit inventory. The area enjoys the strategic positioning between Manesar and Old Gurgaon. From past few years, the area has witnessed a lot of real estate development in terms of number of developers launching residential as well commercial projects. If you are looking to invest in this area, below given is quick outlook of the area which will help you to decide whether to invest in this area or not:
Accessibility of New Gurgaon :
New Gurgaon is well-connected to three major highways, including national Highway 8, Dwarka Gurgaon Expressway and Kundli Manesar Palwal Expressway. These three main corridors connect New Gurgaon with other parts of Delhi NCR. It is 10 to 15 minutes away from the airport, and has upcoming connectivity to the Metro & ISBT.
Price perspective :
New Gurgaon real estate market has witnessed strong investor participation. The average capital value of properties in New Gurgaon starts from 4250 Rs per square feet to 5070 Rs per square feet, depending on locality. According to surveys, in last six months the housing values have fallen by 6 per cent. Sales have decreased and incentives by way of cash discounts are being offered by developers to attract homebuyers.. In case of commercial properties in the area, under construction properties range from 8,000 Rs per square feet to 25,000 Rs per square feet for constructed properties. This bandwidth makes the investments affordable, with plenty of space for upward price rise.
The infrastructure of New Gurgaon is in an advanced development stage. The Haryana Urban Development Authority (HUDA) is already developing various external development works such as water supply, sector roads, recycled water circulation, storm water drainage and sewerage system in this area. In Sectors 81 to 95A, HUDA has already commenced their plans to implement infrastructure.
In the end, New Gurgaon is very desirable residential location among homebuyers due to various reasons such as price, location, etc. The area has malls, banks, schools, hospitals and recreational centers, giving this area immense potential of well-developed city in affordable price.