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Navigating Real Estate Investment in Gurgaon in 2024
By: Rajesh K. Saraf, MD, Axiom Landbase
Gurgaon, the millennium city, has always been a magnet for real estate investors in India. Its strategic location near the national capital, Delhi, and rapid urbanization have continually attracted domestic and international investors. With 2024 a few months away, the Gurgaon real estate market presents exciting opportunities.
Market Overview
Gurgaon’s real estate market in 2024 will continue to evolve. Understanding the current landscape is essential for making informed investment decisions. The demand for residential properties, including apartments and independent houses, remains steady, primarily driven by the city’s burgeoning population. Gurgaon’s status as a corporate hub is stronger than ever, attracting businesses and driving the demand for commercial spaces. Infrastructure projects such as the Delhi-Mumbai Industrial Corridor (DMIC) and the Dwarka Expressway are poised to impact property values positively.
Selection of investment opportunity
Gurgaon offers diverse real estate investment opportunities. It’s vital to align the investment type with the financial goals and risk tolerance: Investing in apartments, villas, or plots in residential areas is a popular choice. Consider factors like location, amenities, and future growth prospects. Commercial properties, such as office spaces and retail outlets, can provide stable rental income. Evaluate demand in specific commercial hubs. With the rise of e-commerce, there’s a growing demand for industrial and warehousing spaces in Gurgaon.
Location Matters
Gurgaon is a vast city with various micro-markets, each offering distinct advantages. Research and selection of investment location based on factors like connectivity, infrastructure, and growth potential
Golf Course Road, known for its upscale properties and excellent connectivity, remains a prime investment destination. Also, Dwarka Expressway is experiencing rapid development and offers promising future returns. Besides, Sohna Road, with a wide variety of options, is a favourite among investors.
With RERA, the chances of a builder defaulting are slim; however, it is essential to exercise due diligence, which can be quickly done by ensuring the following:
∙ Legal Checks: Ensure the property buyers are interested in has clear titles, is free from disputes, and complies with all local regulations
∙ RERA Compliance: Verify if the project is registered under the Real Estate (Regulation and Development) Act to protect the interests
∙ Financial Planning: Calculate budget, including down payment, loan options, and anticipated returns
Gurgaon’s real estate market offers promising opportunities. Buyers can navigate this dynamic market successfully with a strategic approach, thorough research, and prudent financial planning. Whether investing in a residential or a commercial property, stay updated with market trends and align the investments with the long-term financial goals. With its mix of modernity and tradition, Gurgaon’s real estate landscape awaits those ready to explore its investment potential.
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