Considering Gurgaon? These Sectors Are Bankable
Believe it or not, if the real estate slump has done somebody some good, it is the homebuyer. With real estate prices being stable for long now, it is an opportune time for homebuyers to make their purchase.
One such market that even during the slump has been a hotbed for homebuyers is Gurgaon. The micro-market was distinctly different when it comes to the way property prices moved. Even luxury properties witnessed a better fate during the slump than in any other market.
If you are looking at the Gurgaon market, here are some localities that are worth investing in:
According to industry experts, localities that lie close to the National Highway-8 have garnered more interest. This, however, does not mean that property prices have swirled up. In fact, prices along the NH-8, lifeline of Gurgaon, have been stable. You could bank on localities such as Sector 17, 18, 25A, 29,30, 31, 32A, 33, 34, 35, 36, 37, 37A, 48, 76, and 77. These sectors offer both residential as well as commercial properties. Most popular among these residential sectors include sectors 31, 37C, 48, 76, 77, 81, and 82.
Industry speak
“The real estate lying along the NH-8 is good as its connectivity is ensured via bus transportation services offered by the Haryana roadways, linking the township to neighbouring states and cities like Delhi, Uttar Pradesh, Rajasthan and Chandigarh. The Delhi-Gurgaon Expressway and the NH-8 provide excellent connectivity to this region. With the government spending Rs 900 crore on the NH-8 and the Smart City Mission successfully underway, the lifestyle quotient of certain sectors has enhanced further. The future appears bright as a considerable chunk of residential properties along this region is nearing completion,” Ravish Kapoor, director of Elan Group, said.
Vineet Relia, managing director, SARE Homes, said, “The realty sector has progressed significantly over the last decade. The development of townships and global eco-urban areas on the NH-8 has brought in fresh investments.”
What's in store for homebuyers?
These localities have enough options for those looking at budget or high-end homes as prices start anywhere between Rs 20 lakh and may go up to Rs 5 crore depending upon the size of the house, the type of property, the exact location and the host of amenities. Those looking at near-completion projects have a lot of options to bank on.
Data with PropTiger.com suggest that there are 960 projects for sale out of which 559 are ready-to-move-in properties. There are over 75 villa projects as well at a starting price of Rs 82 lakh, which could go up to Rs 12.50 crore depending upon the size of the house.
On the whole, if you are looking at a 2BHK unit, you will need to reserve a budget of Rs 76 lakh while a 3BHK unit will cost you Rs 1.45 crore. Higher configurations can cost you Rs 2.95-8.90 crore. These are average prices only as rates are determined by factors such as brand of the developer, quality and location as well. Given that these sectors enjoy good connectivity and are home to many retail and commercial spaces, end-users wouldn't go wrong with an investment herein.