Transformation of Gurgaon from a wasteland to IT hub to fastest growing real estate sector is simply phenomenal. In the last decade, Gurgaon has been termed as the fastest growing sector of Northern India in terms of IT sector along with commercial and residential real estate sector. The hot commercial real estate market of Gurgaon is attracting investors due to high returns and impressive profit associated with the investment. The investment boom in the commercial property generally includes space in malls and retail shops.
Major reasons that make Gurgaon a gold mine for Investors:
High Return on Investment – Commercial real estate investments in Gurgaon have resulted in excellent appreciation in value and have exceeded other investment types. It has been proved that commercial property in Gurgaon has produced higher returns on investments.
According to real estate consultants Colliers International, commercial rental properties in Gurgaon’s MG Road shot up by 30% and 22% respectively in the last year. Besides, among top ten locations, where rental rate tremendously surged, included four locations of Gurgaon. In addition to high rent, good appreciation on the property cost also increased the return on the investment.
Small Investment Options
Developers in Gurgaon are even offering smaller units of commercial properties for investment, so that investors with low budget can also reap the benefit of investing in commercial properties. Professionals like lawyers and doctors are showing their interest in Gurgaon commercial property either for investment or for self-uses.
High Living Standard
High living standards and rise in people spending potential at malls and supermarkets are encouraging investors to invest in commercial property and retail shops of Gurgaon. Lifestyle of people living in Gurgaon has tremendously changed in the last decade and they have become much more brand conscious while wearing and eating. This has given good prospect to the Gurgaon commercial real estate sector.
In the last couple of years, Gurgaon has witnessed impressive infrastructural development that has resulted in the massive growth of this region. There has been an upsurge in Gurgaon commercial property investment and people are increasingly investing in properties like hotels, resorts, commercial premises, schools, resorts and hospitals.
Major IT Hub
Being a major IT hub of India, Gurgaon is quite popular among real estate companies and investors, who are eying a bright and lucrative prospect across this region. There is no shortage of skilled and unskilled workforce in Gurgaon due to proximity with cities like Delhi, Noida, Faridabad and Ghaziabad. Hence, businesses are looking to establish their base in this city.
Easy Renting Option
With major corporate houses and multinational companies opening their offices in Gurgaon, businesses are certainly in need of commercial space. Thus, investors with commercial space will find innumerable renting options. Last year major corporates like Snapdeal, Zomato, BCG Group, NTT Data and SAP took around 1.17 million sq. ft. of office space thereby leading to sharp surge in the rental rates.
Gurgaon is a hot spot for both real estate developers and investors owing to various benefits and advantages associated with the city. This city not only boasts of excellent infrastructure but also provides excellent security and potential customers. With major global companies setting up their operation in Gurgaon, there is all-time high demand for commercial properties in Gurgaon.