How Did Gurgaon Become a Real Estate Haven for Offices as Well as Residents?
Gurgaon is a very strategically located area. Its closeness to Delhi NCRs’ international airport – the Indira Gandhi International airport and Delhi – the national Capital, an abundance of easily obtainable space, and the ease of conducting business made it a rewarding investment hotspot from the real-estate point of view as well as for corporates. Apart from this, it brags 3 highways KMP, NH-8, and Dwarka Expressway, further enhancing its real estate paradise status.
Gurgaon has overtaken its NCR counterparts (Delhi and Noida) by leaps and bounds, capturing 60% of the demand for corporate space for five years back-to-back. This was officially reported by Colliers International India, a consultancy. Be it a fully furnished flat in Gurgaon by Adani Realty, office for sale in Gurgaon, unfurnished condominium, independent house, or a gated society with amenities – Gurgaon has everything to offer and more.
Readily available amenities: To add to the strategic location and availability of space, it became a chosen corporate hub due to the readiness of good quality housing, multiple shopping complexes, and malls, entertainment avenues, a large professional and talented pool along with the government being in favour of trade and business. Thanks to all of this and a lot more, Gurgaon became a prime choice as a business hub.
Secular corporate hub: According to real estate experts, Gurgaon is an exclusive market and not one-dimensional. It is instead a secular business hub where call centres, corporate offices, IT and ITeS companies tend to operate together from one single building. This increase in corporate spaces leads to a subsequent rise in the housing market leading to the overall economic enhancement of the area.
DINK couples: At the beginning of the 2000s, Gurgaon’s real estate grew by mounts due to offerings for DINK couples – double income no kids, especially those working for MNCs. It became a coveted area to live in with offering for all segments of people – middle class, upper-middle-class, and the higher income groups. People aspired to live in Gurgaon and the fact that it became the MNC hub added to the prestige of Gurgaon.
Good connectivity – By the mid-2000s, MG Road and Golf Course Road were in the limelight for Gurugram real estate. This is because Golf Course Road had a good mix of residential and commercial real estate offerings and MG Road was well connected to NH-8 and had lots of malls.
Post-2005-2006, the focus was on Gold Course Road and Northern Peripheral Road (NPR) as the other areas started to get saturated. This was also a sought-after area as it was linked to the Dwarka-Gurugram Link Expressway. Just like in the 1990s, they tried to connect the Maruti Udyog factory (the “old highway”) to the current NH8, the same enthusiasm was around the NPR. This area gained interest due to its connectivity and faster access to Delhi and the airport. After the Dwarka Expressway enhanced the connectivity in late 2010, Sohna Road became another residential hub for all income groups.
Rapid urbanization, metro connectivity, markets, secure housing complexes, and the presence of multiple employment opportunities have acted as a catalyst for the ex-pat population to choose Gurgaon as their chosen place to stay.
Due to its strategic location, good connectivity, housing security, and a plethora of options, Gurgaon has become the chosen place for both people and corporates.