See I feel there will be a slight initial correction in the market owing to the current circumstances. In fact I believe that property prices should become more affordable in Gurgaon in the long run. This will help it compete better with Noida which is now becoming the main customer magnet for those living in Delhi-NCR and looking for more affordable property prices, more options and of course, good connectivity through the upcoming airport at Jewar and the Yamuna Expressway. In comparison, Gurgaon still has favorable prospects for the future.
It is and will always be the preferred commercial hub for MNCs, leading companies and corporates. Premium, mid-range and luxury projects will continue to rule the roost here like Adani Samsara, Godrej Meridien, Godrej Aria, M3M Woodshire and many more. So yes, Gurgaon will still be a good location for investments provided you deploy money in the right location, builder and project. That is what I believe.
Agreed. I was asking the question from the standpoint that Noida is all set to attract mega infrastructure and investment in the near future. But yes, the Millennium City will stay strong probably with a lot more competition from Noida than in the past. Thank you for the inputs really.
In fact, Neha, coming to future prospects, you must have heard of the good news that the Haryana Government has now approved the final DPR (detailed project report) for the proposed metro railway link to several locations from HUDA City Centre. This link will bring future real estate progress to Gurgaon in terms of appreciation and better infrastructure. The link will cover areas like Cyber Park, Sectors 45, 47, 48, 10, 37, 72A, 7, 5, 4, 9, 3 and also Palam Vihar Extension, Udyog Vihar Phase 6, Subhash Chowk, Hero Honda Chowk and more.
It will be merged into the current Rapid Metrorail Gurugram network near Cyber City at the Moulsar Avenue station as per the reports. The MRTS (mass rapid transit system) will be linking several areas in the city while interchanging with the MRTS Corridor at Subhash Chowk and a bus stand located at Sector 10, railway station at Sector 5 and the Moulsar Avenue Rapid Metro.
Yes, thank you Ranjana for your inputs! This project should bring future progress to the realty market in Gurgaon. Already I have heard that rentals are doing handsomely for commercial properties along the Golf Course Road and nearby areas. Also, residential sectors are doing well in New Gurgaon and SPR (Southern Peripheral Road). The completion of the Sohna Road elevated corridor should also boost real estate in Gurgaon as I just heard.
Yes Neha, Gurgaon realty will still be preferred by NRIs, high net-worth individuals and investors. Infrastructure is better in Gurgaon as compared to many parts of Delhi-NCR. Golf Course Road will keep doing well in both residential and commercial segments while property will be coveted in New Gurgaon, Sohna Road and Extension Road also.