m3m commercial projects in gurgaon real estate development from a city suburb to a hi-tech city is a model for other cities to follow. Almost all cities of the National Capital Region (NCR) developed on the lines of Gurgaon and upgraded their property profiles. In fact, Gurgaon is now serving as a city centre for neighbouring towns like Dharuhera, Bhiwadi and Manesar. Real estate developers and home seekers from Gurgaon are now spreading into these areas.
Manesar's real estate development needs a special mention here. Manesar's proximity to Gurgaon is its biggest asset. Also property prices in Gurgaon are almost on the lines of Delhi. The average capital value for a residential apartment in Gurgaon is Rs 900 - 1,3000 per sq ft, which is almost similar to the property prices prevalent in Delhi's Saket and Karol Bagh areas. Commercial property rates follow the same trend.
Considering all these factors, many corporate houses and manufacturing units have bought land banks in Manesar. The city would host the manufacturing units of automobile giants like Maruti Udyog, Suzuki and Hero Honda. Suzuki would be investing Rs 2500 crore to develop their Manesar plant. In fact, technology leader Samsung Telecommunications would also be setting up their India unit in Manesar. The company would be investing Rs 850 crore in Manesar in near future.
All these developments have prompted the property developers to consider residential development in the region. Prominent real estate builders like DLF, Unitech and Raheja have announced a slew of residential projects for the region.
An expressway has been proposed that will connect property in Gurgaon to Manesar and property builders have taken huge land banks across this expressway. Also, about 10 SEZs have been notified in and around Manesar. This too has triggered residential developments in the region. With so much happening in and around Manesar, this region has become a favourite with the real estate investors.
Last five years has seen Gurgaon on the fast track. The much awaited National Highway 8 and now the introduction of metro to Gurgaon is only going to make things better for Gurgaon. Gurgaon, the millennium city, is already home to many IT majors and multi national companies. Residential rental is at its peak in Gurgaon. The retail market too seems to be catching up.
Thanks to the sealing drive a number of shops are shifting to Residential Properties In Gurgaon and its malls. To rent retail properties in Gurgaon has become an expensive proposition. With the demand growing up in leaps and bounds for retail outlets in Delhi and NCR, like Gurgaon, especially after the sealing drive, the lease to rent retail properties in Gurgaon and Delhi, which has already seen a steep rise of 100% up in the last one year, will see a an increase in rentals further by 30 to 40% in the next six months, feels the experts.
Areas like NCR and Delhi are governed by a master plan. The master plan has designated spaces for residential and for retail development. In Delhi, due to lack of supply of land for retail development, retail outlets came up in unauthorized manner in residential and all Dora lands. The Lal Dora land at the border has seen sealing of all the shops there. This has only heated up the Gurgaon rental property rates.
Experts feel that such an astronomical increase in price will only hurt the market. The rental property in Gurgaon is as high as Rs.200 per sq. ft. per month of a ground floor of a mall. The other floors too demand the same rates. Delhi rentals have gone high as Rs. 500 per sq ft per month in retail outlets.
According to the experts, lease rentals of a shop should not be more than 7 to 9% of total revenue. But, at present rates the rentals are around 15 to 20% of the revenue. Any further rise in lease rentals will only make business unviable.
The hospitality industry is also making its way to property in Gurgaon. In a recent development, DLF tied up with Hilton to open hotels and service apartments across the city. This would only help the vacation rental property in Gurgaon to grow.
Some of the best residential projects are happening in the city of Gurgaon in the next 12 months. As the real estate market picks back up and the Indian economy continues to recover, this is one of the premier regions to find the best deals and most beautiful properties on the market. Here are a few reasons by Gurgaon should be your real estate destination in 2016.
One of the best aspects of m3m upcoming projects in gurgaon real estate is the fact that there are many different types of homes available in varying townships. If you're looking to spend a lot of money for luxury, you'll be able find such an environment as easily as you can affordable housing. According to the Real Estate Times, the two types of buyers that have emerged in Gurgaon recently are those looking for residential property versus specifically luxury properties. Well-known real estate developer Unitech has recently put down new residential projects in Gurgaon that features luxury amenities. Not only do these types of townships boast the usual services, such as club houses, open green spaces, and excellent access to major roadways, but there's another level of luxury now offered.
The Ivy Terraces, for example, are a group of properties situated within Wildflower Country and boast access to self-contained services such as schools, nursing homes, shopping areas, banks, and taxi stands. Luxury housing these days is an up and coming commodity, and if you're looking for a wide array of options from which to choose, look no further than the townships and new projects in Gurgaon.
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