The Evolution of Luxury Real Estate in Gurgaon

  • 1st Aug 2022
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The Evolution of Luxury Real Estate in Gurgaon

Tracing The Growth of The High-End Property Market in Gurugram (Gurgaon)

As a result of the remarkable expansion that took place in this region at the turn of the century, many people refer to Gurgaon as the Century City. Everyone is aware that making financial investments in Gurgaon including buying luxury homes this city is a smart move, and not too long ago, it scored well in a survey that listed the best areas in India to find work.

The prices of both commercial and residential real estate in Gurgoan have reached all-time highs, and it is anticipated that they will continue to rise. Residential real estate investments have flocked to Gurgaon in recent years, notably those carried out by high-net-worth people and foreigners who do not now call India home.

Real estate companies are increasingly focusing their attention on the luxury end of the market as a result of the increased demand. As a consequence of customers' rising incomes and, as a result of this, their greater spending power, there has been an uptick in the demand for ultra-luxurious housing alternatives such as villas, building homes, condos, designer apartments, and the like. The market for luxury housing seems to be rather competitive, despite the fact that its target audience is quite limited.

Investors are not the primary drivers of demand for luxury real estate; rather, end users are the primary demand generators in this market. Gurgaon is one of the major places in which there is a consistent demand for ultra luxury housing complexes at this time, making it one of the top areas overall. The price of a luxury home might range anywhere from 5 to 15 crores of Indian rupees. In order to meet the demands of their customers for the highest possible levels of quality and elegance, real estate developers are teaming up with businesses from other countries to create business partnerships.

Real Estate In Gurgaon Is Becoming The Center Of Interest Among NRIs And HNIs Due To The Fact That India Is The Hot Spot For Real Estate Investment And The Indian Economy Is On The Mend As Well As Due To The High Growth Rate Of The Infrastructure Development Taking Place In The City Of Gurgaon. As a result of the increasing demand for opulent housing, several large real estate companies, such as DLF, Unitech, MGF EMAAR, Ansal, Orris, Antriksh, and Assotech, among others, have established bases of operations in Gurgaon.

End users in Gurgaon may be sure that they will have access to a world-class living space in the beating centre of the millennium city as a result of the quantity of well-known brands in the luxury market. This is because of the city's proximity to the Gurgaon International Airport. If you are looking for a nice spot to settle down, investing in real estate in the city of Gurgaon is the way to go.

Because of its convenient position in the middle of India and its well-developed network of transportation connections to the country's other regions, the Delhi-National Capital Region (NCR) is a very desirable place to invest in real estate. It has been a centre of political and economic activity, and in recent years it has seen tremendous improvements in infrastructure, which has fueled a boom in the real estate market. People from all across India have been moving to the region since it is home to a significant number of multinational businesses, businesses in the starting phase, and organisations already established. The expansion of local businesses has not only helped the residential real estate market, but it has also encouraged newcomers to put down permanent roots in the region.

The recent surge in the luxury real estate market can be attributed to a number of different factors, including the rise in the number of ultra-high net worth individuals (UHNIs), high net worth individuals (HNIs), non-resident aliens (NRIs), foreign direct investment (FDI), internationalisation, and people's desire to live an extravagant lifestyle.

The "walk-to-work" trend may be partially responsible for the increase in the number of dwellings that have been built in close proximity to places of employment. In light of the recent outbreak, the precarious nature of renting a home has been brought into sharper contrast with the sense of safety that comes with owning one's own home.

Those who are interested in purchasing a home that exhibits a higher level of taste will go to more efforts to guarantee that they acquire the most enjoyable experience and things imaginable. Because individuals are spending more time indoors, homebuyers' preferences have altered; today, they choose for spacious residences that are surrounded by thick greenery.

Investors benefit from having access to a stable and dependable stream of income provided by these assets. According to research conducted by the real estate data analytics business PropEquity in February 2021, sales of luxury real estate in India's seven most populous cities increased to 8,219 units, representing a year-over-year increase of 21 percent.

Nowadays, builders provide a variety of solutions to accommodate any and all prospective buyers of houses. There is a strong demand for gated condominiums that provide round-the-clock security and surveillance in addition to a variety of contemporary amenities, such as a fitness centre, spa, tennis court, and badminton court. These elite enclaves behind gates are like little cities in which every service and amenity imaginable is located on-site, making it unnecessary to ever leave the community.

Delhi-National Capital Region (NCR) continues to lead the pack both in terms of the number and variety of employment possibilities as well as the accessibility of various modes of transportation. Because of its location in close proximity to Manesar and Delhi, as well as its ease of access to both the Indira Gandhi International Airport and the New Delhi Railway Station, Gurugram has developed into a significant real estate market. Because of its reputation for having high-end facilities and culture, many non-resident Indians, high-net-worth people (HNIs), and expats have chosen to make this region their permanent home.

The rebound in economic activity that followed the second wave has been beneficial to the real estate market by increasing buyer and seller interest. 

The rise in sales of Gurgaon luxury real estate is evidence that prospective purchasers have increased their level of confidence, which in turn has led to an increase in demand. This demand is only expected to increase as a result of favourable conditions, such as cheap mortgage rates, alluring incentives, and adaptable payment alternatives. 


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Author

Suhas

Suhas Kataria is an ardent utopian, luxury real estate marketer & consultant, techpreneur (with a focus on proptech), SEO copywriter & trainer, lyricist, musician, rapper, runner & an eternal learner. As the Founder and CEO of Realspace, Suhas has 20 plus years of hands-on work experien... read more


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