The residential real estate segment of Gurgaon is booming and the newly launched projects seem to be enticing investors more than the already existing projects. Read on to learn about the latest trends of the residential segment of Gurgaon.
The Millennium city of India Gurgaon has undergone drastic infrastructural improvements. It has now emerged as one of the favorite investment destinations for all real estate enthusiasts. Both commercial and residential segments in Gurgaon have received overwhelming responses from the buyers. The residential segment of Gurgaon offers properties both for end use and investment. The latest trend in the residential segment of Gurgaon is that buyers prefer investing in new project launches as compared to ready to move in units.
Going by the facts, the residential segment of Gurgaon is divided into two segments, first the new project launches and second, the ready to move in Apartments in Gurgaon or the projects near completion. Earlier, the buyers would prefer investing in ready to move flats, but currently, buyers look out for newly launched projects.
The main reason for such a trend is that investors do not like to put in huge amount of money, and prefer those options where they have to pay only 10% per cent of the total cost as the booking amount, where as they need to pay about 70% of the total cost for the properties which are ready to move.
Moreover, there is a steep growth curve in the costs of new projects and this will remain to shoot up until this trend continues. The prices of the ready units are going through a stagnant phase, and this encourages the buyers to invest now and later sell with the increase in the prices.
New Residential Projects
The most popular newly launched projects that have seen huge demands from the investors are Raheja Srishti, Experion Windchants, Vatika Seven Elements, Gurgaon Gateway, the Grand, among others. The projects are still under construction and are available in a wide price band.
These projects have certainly lured the investors because of the features they are offering. Most of these projects are designed to suit the pockets of the mid and high income group buyers. The new projects are offering innovative architectural design, theme based homes, residential units with international touch and world-class facilities at prices which still remain lower as compared to the luxury projects. This has boosted the demand for such projects largely as the buyers can now experience luxury within their budget. This segment has experienced maximum demand from the upper middle class section and the professionals based out of Gurgaon.
Latest price trends
Since it is a common trend that with the increasing interest of the buyers in particular projects, the prices of apartments in Gurgaon also increase, hence the buyers must be ready to experience price increase.
The market analysts are expecting the real estate market of Gurgaon to attract more buyers as its n the path of growth thanks to the investors’ interests. The builders who rare launching new projects are taking care of the factors like location, connectivity to other parts of the city, proximity to metro stations, to name a few. The rental values of the properties are also expected to increase by no less than 20%.
The sales prices at the DLF residential units are expected to increase by around 50% soon after the much awaited monorail is launched in the city. Other segments which are expected to grow are the commercial property segment and the luxury housing segment.
It looks like Gurgaon will remain the realty hot spot in the NCR!
Author Bio :- Rashmi Karan writes on the behalf of 99Acres.com, which is the leading real estate portal providing genuine and accurate information about the current real estate trends regarding purchase and sale of both residential and commercial properties across nation.