Invest in booming Gurgaon real estate

A headline in the newspaper reads: “Mass Rapid Transit system (MRTS) to link Versova-Andheri-Ghatkopar”. Another reads: “A new airport planned at Noida/Greater Noida, Panvel at Mumbai, SEZ being planned at Navi Mumbai”. These snippets may seem arbitrary to readers.

But if you collect those bits and pieces, and do a veracity check, you could get the pulse on residential property trends. Trying to guess where property prices are heading is a tough one. But if know what development is taking place in one’s region — may be a new railway station, airport, SEZ a few kilometres away — one could get a clue as to where property prices are headed.

Delhi & NCR Region

For instance, in the Delhi and NCR region, Gurgaon is likely to see a lot of action. Gurgaon residential properties prices have shot up by 44% in the past six months ended September ‘06. According to reports, around eight special economic zones (SEZs) are coming up in Gurgaon. SEZs have mandates to develop residential zones and hence, improve the overall infrastructure quality in their vicinity.

Gurgaon, located towards the South of Delhi, has National Highway 8 running through it, ensuring good connectivity. Its proximity to the existing airport is an advantage. As per property consultant Trammell Crow Meghraj, Gurgaon is expected to see new supply hitting the market in the next 11-14 months.

With little land available for development in Delhi, over the years, Gurgaon and Noida have acted as viable suburbs for owning inexpensive real estate. The introduction of Metro railway in Delhi has, to a large extent, solved intra-city transportation problems. In case of Noida, the future triggers could be the completion of a proposed airport.

Greater Noida has advantages of better connectivity, power and water supply. But the region is also witnessing lesser occupancy as many buyers are buying property for investment purposes. Moreover, the Commonwealth Games ’10, to be held in the east of Delhi, is leading to a lot of action in the hospitality segment. Indirapuram and Dwarka have also seen a lot of action.

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