Investing in Gurgaon? Take this walkthrough before inking a deal

Gurgaon

If there is one city that takes the cake for being the most futuristic and has the potential to be a global city, it’s Gurgaon. Touted to be the next financial capital of India after Mumbai, Gurgaon has attracted business giants, industries and entrepreneurs alike owing to its strategic location and close proximity to the National Capital Region.

Ensconced aptly at the foothills of the Aravallis, Gurgaon has evolved into a world-class city and become an investment magnet for homebuyers and investors too. The city is not called the Millennium City for nothing.

Gurgaon is home to 250+ Fortune 500 companies and has an entrepreneurial culture that can rival any other city in India. The city is the first choice for high-end corporate offices owing to its excellent location, smart infrastructure and robust investment opportunities.

Boasting of a hyper-urban look, Gurgaon is in the league of the fastest-growing cities in the world. Realtors have thus come up with exclusive residences mirroring the futuristic character of the city to cater to the aspirations of millennials and Gen Z folks who have a desire to make this city their home.

For those mulling an investment in this Gen-Next City, here are some things to take note of before finalizing a deal.

What is the cost of living in Gurugram?

If you are an average family living on a budget, the expenses would amount to 10-15 lakhs after taxes depending on the location.

For families looking to live the plush life, the expenses hover in the range of 15-22 lakhs after tax.

An extravagant lifestyle with the comforts and pleasures under the sun will take your expenses from 25-40 lakhs, tax included.

Accommodation

Apartments Rental in Gurgaon Price (Rs)
1 BHK ₹10000 – ₹15000
2 BHK ₹15000 – ₹25,000
3 BHK ₹20,000 – ₹30,000

 

Rentals in Posh Areas of Gurgaon Price (Rs)
1 BHK ₹15,000 – ₹25,000
2 BHK ₹20,000 – ₹30,000
3 BHK ₹35,000 – ₹80,000

 

Miscellaneous Expenses

Description Bachelors Couples Families
Accommodation 6,000 – 15,000 9,000 – 30,000 10,000 – 50,000
Groceries 2,000 – 3000 2,000 – 4,500 4,000 – 15,000
Transport 1,500 – 3,500 2,000 – 4,000 3,000 – 7,000
Utilities 500 – 1,500 2,000 – 4,000 3,000 – 8,000
Entertainment 4,000 – 8,000 4,000 – 10,000 3,000 – 8,000
Shopping 2,000 – 5,000 4,000 – 8,000 5,500 – 12,500
Kids Schooling Nil Nil 3,000 – 20,000

 

Best Residential localities to stay in Gurgaon

Affordable Localities in Gurgaon Posh Localities in Gurgaon
Sector 47 Golf Course Extension Road
Sector 49 DLF Phase I
Sector 23 DLF Phase II
Sector 57 DLF Phase III,IV,V
Sohna Road MG Road
Sector 82 Sushant Lok 1,2
Sector 24
Sector 14
South City 1,2

 

 

Ready Reckoner Rates in Gurgaon

Gurgaon has been the favoured destination for mid and upper ticket housing units. The burgeoning corporate hub has fuelled the demand for housing. The market is transparent and despite prices falling by 7% in the last five years, things have started improving at a good pace from 2019. Real estate experts say that Gurgaon will take a lead in affordable housing as a lot of projects are being launched in this segment. This will fuel property prices in the region.

Locality Property Price (2019) Oct-Dec Property Price (2020) Jan-Mar
DLF City Phase I 7,889-12,008 7,840-10,866
DLF City Phase II 10,117-13,916 10,055-13,202
DLF City Phase III 9,541-13,502 9,449-13-170
DLF City Phase IV 9,687-11,910 9,518-11,504
DLF City Phase V 10,366-13,899 10,365-13,802
Dwarka Expressway 4,379-6,868 4,390-6,935
Behrampur 8,017-11,648 8,626-11,975
Golf Course Road 9,264-15,270 9,259-14,100
Golf Course Extension Road 7,045-10,396 6,953-10,595
MG Road 9,167-13,286 9,068-13,111
Palam Vihar 4,917-7,965 4,221-7,128
Sector 102 4,928-6,818 4,899-6,817
Sector 103 3,756-5,189 3,729-5,206
Sector 104 5,338-7,226 5,240-7,240
New Gurgaon 4,157-6,578 4,179-6,655
Sector 106 4,754-6,643 5,474-10,425
Sector 107 4,279-5,522 4,215-5,730
Sector 108 4,379-7,362 4,340-7,240
Sector 110 4,553-6,637 4,155-6,622
Sector 111 6,613-9,039 6,814-8,777
Sector 113 7,284-8,813 7,226-8,821
Sector 31 8,013-11,399 8,013-11,426
Sector 22 8,431-11,080 8,250-10,847
Sector 24 10,067-14,601 9,696-14,437
Sector 28 9,606-11,847 9,322-11,741
Sector 41 8,775-12,220 8,513-12,480
Sector 42 11,048-15,053 20,053-26,617
Sector 43 9,075-13,857 8,750-13,470
Sector 49 6,475-9,291 6,843-10,423
Sector 47 6,211-8,713 6,227-9,002
Sector 52 5,345-7,953 5,595-7,737
Sector 54 11,918-18,154 10,352-15,523
Sector 56 5,798-8,538 5,880-8,334
Sector 57 5,964-8,356 5,711-8,371
Sector 58 9,465-11,332 9,385-11,598
Sector 59 8,688-12,590 9,015-12,540
Sector 82 4,304-6,864 4,402-7,219
Sohna 3,774-5,831 3,638-5,513
Sohna Road 6,028-8,907 6,384-10,087
South City 1 8,752-12,386 8,432-12,525
Southern Peripheral Road 5,531-8,336 5,515-8,215
Suncity 11,640-17,900 11,267-17,691
Sushant Lok 9,940-14,282 9,532-14,259
Sushant Lok 1 6,714-9,631 6,105-9,356

What are the best areas for property investment in Gurgaon?

  1. Dwarka Expressway: Dwarka Expressway, also known as Northern Peripheral Expressway, is one of the most sought-after locations in Gurgaon. The 27.6 kms stretch will serve as an alternate connector between Delhi and Gurgaon. Excellent connectivity, good social infrastructure nearby and availability of land have made it a hot bed for real estate investment. Popular residential locations in the area include sectors 99, 100, 101, 102, 103, 104, 109, 110A, 111, 112 and 113.
  2. Sohna Road: Located in Sohna which is home to historical landmarks, hot springs and lakes, Sohna Road is the next residential hub in Gurgaon. Sohna Road is well connected to major corporate and business hubs along with industrial zones. The Gurgaon Railway Station, IGI Airport and Huda City Centre Metro can be easily accessed from this area. Affordability and attractive returns have fuelled residential investment in the area. Many developers including Godrej have come up with apartments, villas and penthouses at affordable rates here.
  3. Golf Course Extension Road: The Golf Course Extension Road is a nice investment option for those looking to live close to posh areas of Phase 1, Phase 2 and Phase 5. Well connected to Cyber City and corporate parks on Golf Couse Road through Rapid metro, the location is just 27 kms away from IGI airport. In recent years, property prices have seen an uptick owing to its existing and upcoming social infrastructure. The Golf Course Extension Road has residential projects catering to all walks of life, from apartments and villas to duplexes and suites.
  4. New Gurgaon: Strategically located between Delhi and Manesar, New Gurgaon is a rapidly developing real estate destination. With prominent colleges like GD Goenka, Amity University and BML Munjal University in the location, direct connectivity to NH-8, 25 minutes from IGI airport and 20 mins from DLF Cyber City, this region creates a perfect ecosystem for investment. Since the region is quiet and has good green cover unlike the rest of Gurgaon, it will pull homebuyers looking to get respite from the hustle and bustle of the central city. The upcoming Delhi-Gurugram RRTS Corridor will boost connectivity to the region and attract working-class population to invest in this area.

 

Best Tips for right Property Investment in Gurgaon

  1. Identify location potential: Gurgaon is on the cusp of a residential and infrastructural boom. Millennium City is gradually saturated, it is the place where the property is located is essential to identify potential. Sohna Road and Dwarka Expressway are two locations that possess superb capital appreciation characteristics. The areas are also well-connected to prime locations in Delhi and Gurgaon.
  2. Development plans in the vicinity: If you have earmarked a project in a locality, look out for future development plans in the area. Social infrastructural developments go a long way in boosting the liveability index of the area and amplify property prices. As they always invest in assets selected by reputed builders of the project after the plans are careful research in the field.
  3. Go for a reputed builder: At Gurgaon, you’ll find projects coming up in every nook and cranny of the city. Homebuying is a one-time investment involving a lifetime of savings. So, it is important that you go for a builder of repute to save yourself from future property hassles. Godrej, Shapoorji Pallonji, Emaar, DLF, Hero Homes, M3M are some of the names to look out for. Quality construction and timely delivery are some facets that go well with reputed builders.

 

Is buying Residential apartments in Gurgaon a good bet?

  1. Business and Social Infrastructure: Gurgaon is one of the best corporate hubs in India. In almost all Silicon Valley strategic places in companies, Gurgaon ,, put a grand Business Park City roots in offices and support so it is a hive for job creation. The city boasts of the finest restaurants, malls, educational institutions and transport infrastructure, made on par with European standards.
  2. Unrivalled residential projects: Ask anyone in Gurgaon and they will say their living standards are a class apart. The city population has a sophisticated lifestyle with breathtakingly beautiful residential estates having extensive green zones, walkways, paths and gardens. The residential options come with loads of lifestyle & healthcare features and relaxation zones. The residential projects are developed strategically so that residents can seamlessly touch important points of the city.
  3. Connectivity: Gurgaon is a commuter’s paradise. The city has a robust transport network with excellent road infrastructure and metro connectivity to strategic points of the city. Upcoming metro projects will further connect the outskirts of the city to its transport network. The seamless link with Delhi is an added boost for people looking for a home in the Millennium City.

Sumit Mondal Content Analyst at Square Yards
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