HAVE YOU Heard about the HARE AND TORTISE RACE?
Gurugram’s real estate market has gained an edge over Mumbai’s in the ultra-luxury segment in India. You must be wondering what caused this shift!
Let’s examine it quickly.
- Rising Urbanization and Economic Development
Gurugram was a quiet town near Delhi; today, it’s a completely different place. The city’s booming economy is powered by a multitude of multinational corporations, tech startups, and financial institutions driving rapid urban growth. It necessitates the expansion of high-end yet affordable housing options to suit the lifestyles of clients from all walks of life.
Consequently, demand for high-end homes and commercial properties is rising, making Gurugram a suitable choice for investment in ultra-luxury real estate.
- Luxury Amenities and Lifestyle Offerings
As an appealing luxury real estate hub, Gurugram catapults itself further by selling luxury amenities and lifestyle offerings. High-end schools, top-class medical care, and world-class malls are only a small portion of what the city has to offer, and they are located nearby.
The green landscape includes parks such as the Aravalli Biodiversity Park and the upcoming Dera Bassi Eco Park, which provide the inhabitants with an open space for urban life and increase their quality of life. High-end residential complexes with state-of-the-art amenities, swimming pools, gyms, and clubhouses add to Gurugram’s glamor as a high-end living destination.
- Government Initiatives and Policy Support – Confident buyers!
The advent of the Haryana Real Estate Regulatory Authority, or HARERA for short, has made the real estate market more transparent and accountable and undoubtedly created confidence among buyers and investors.
In addition, the government has been focusing on industrial corridors such as the Delhi-Mumbai Industrial Corridor (DMIC), which has led to further economic growth and real estate advancement in the city. Privileged project approvals and tax incentives, among other things, have also drawn investment in the luxury real estate market.
- State Government Backed – Strategic Infrastructure
The city is fueled by Government Initiatives and Policy Support and it is paving way for numerous other public/pvt partnerships, be it FI, DI or Corporate houses/Brands that need an address in Gurugram. The result is that this city carries an impressive world-class infrastructure system-a feminized road connectivity, modern international airports, and efficient public transportation systems that simply awe clients.
The Delhi-Gurugram Rapid Rail Corridor (DGRC) and its extension with the Delhi Metro have vastly reduced traveling time and have improved connectivity, thus making Gurugram a vantage point for Ease of Doing Business.
- Investment and Construction Initiatives by Leading Real Estate Players
The entry of top real estate developers and international brands into the Gurugram market has been significant in boosting the luxury property segment in the city. Companies such as DLF, Omaxe, and Panchshil have contributed to many premium residential and commercial projects.
These developers have invested heavily in creating integrated townships with a focus on sustainability, smart living, and community engagement. They have understood the requirements of the present time and created real estate solutions by integration of smart-home technologies, green building practices, and innovative design elements at affordable costs.
