Gurgaon has been a favourite hot spot for residential and commercial property investment since last good two decades. However the city was also the one to suffer the most when the recession hits the real estate sector. Recessio prompted by the slow economic growth and inflation that leds to high interest rate. The property sector invariably involves the home loan option when it comes to purchase of one. However the prevailing high interest rates beat the seemingly invincible property business of Gurgaon which sent the builders in a tizzy on a new course of action to offset their losses. The real estate Gurgaon has matured now and the builders have also realized that despite being in demand, they are no longer in the sellers’ market. Hence the new demand for housing that has emerged in the city is more customer-oriented and is expected to witness a sustainable growth in the years to come.
The re-emergence of Gurgaon real estate: A years months back, a new entrant in the market launched one of the biggest luxury projects in the country. This project is in Sector 72 of Gurgaon. The builder is Tata Housing which has decided to venture into the residential property development in a mature market. The launch of this project indicates two things. First, there is a robust demand for property in Gurgaon. This latent demand has always been there but the high interest rates of home loans have prevented the buyers from opting for houses. Now that the interest rates have been reduced buyers are willing to take home loans for the best properties that are available within their reach. This brings us to the second point. There is a high demand for good properties and the recession has showed that the buyers are not willing to push themselves for sub standard properties. The luxury project launch shows that there are buyers in the city who are willing to pay for houses if the quality is right.
Two distinct demands for housing have emerged in Gurgaon. There is a faction that is searching for residential property in Gurgaon. There is another faction that is looking for luxury apartments in Gurgaon. An area called Golf Link Extension has emerged as a hub of luxury properties in the city. elsewhere, the builders are trying to clear their inventories as soon as possible. This is the reason why the property prices have not risen for the past few months. It is expected that they would not rise for the coming months as well. Hence anyone planning to invest in property in Gurgaon should consider the investment being done now. The time and the prices are just right to yield huge profits in the long run.
To Conclude- Searching for houses; the housing way…
Gurgaon was one of the first cities that property portal housing.com expanded to three years back. The portal is well versed with the property trends in the city and has well oiled data collection operations in the city. This means that anyone searching for new or resale flats in Gurgaon will now be able to search for them reliably online. the portal is known for its verified listings and innovative property related services.