Gurgaon as the leading indicator of property prices in India sets the trends for property prices in the rest of the country according to experts. With Gurgaon’s abundance of multinational corporations and Indian multinationals, property dealers claim it sets the trend for growth for the rest of the country. After a slump in 2015 and first half of 2016, property in Gurgaon is expected to once again pick up steam due to policy changes by the government.
For someone with a very modest budget it is still possible to live in Gurgaon. With affordable housing available on Sohna Road for as low as 10 to 12 Lakhs, owning a property in Gurgaon is now within the reach of most working professionals. Flats in Gurgaon now range from affordable 220 square foot studios costing less than 20 lakhs to super luxury apartments on Golf Course Road costing over 24 crore and with over 24000 square feet of living area.
Among best mid segment apartments in Gurgaon for young working professionals with families are in Sector 56 and 57 near Golf Course Extension road. Prices for apartments here range from 1 crore to 1.3 crore making them one of the preferred localities for young families. Although finding affordable housing in Gurgaon may seem out of reach to many, the large number of young working professionals living in such mid segment apartments may change one’s mind.
Some of the top builders in Gurgaon such as Supertech Limited and M3M India have upcoming new projects on Gurgaon’s Sohna Road sector 68 with prices ranging from 65 Lakhs for 2 BHK flats to 1.31 crores for a 3 BHK. The Upcoming projects from these builders are to be available for procession by 2018 and may be ideal for young families with some extra money to spare who are seeking housing in Gurgaon with the aim of living in their own home.
Although among top builders in Gurgaon and one of its oldest real estate developers DLF provides housing which is usually out of the reach of most and some housing which is out of reach of even many of the well to do. There are however other real estate developers in Gurgaon with a build quality matching that of DLF and a pocket matching that of a slightly more modest investor. If DLF is the king of real estate developers in Gurgaon, Unitech was once most certainly the prince. Unitech ‘The One’ is one of the new projects in Gurgaon, coming up in sector 70 the project consists of 4 BHK and 6 BHK flats with sizes ranging from 4100 square feet to 6700 square feet and a price ranging from 4.4 cr to 7 cr. As a new project in Gurgaon it already shown an appreciation of 1.7% percent since launch with possession stated for 2019.
2015 may not have been a stellar year for property in Gurgaon, but market pundits expect 2016 to be significantly better. With lower rates for housing loans, and easier FDI in real estate, market watchers believe 2016 to be one of the best years to invest in property in Gurgaon.