NCR Acts as a magnet for Office Market

National Capital Region has emerged as a hub of residential, commercial, retail and office markets. People are ready to invest and setup their business here due the ease of connectivity, better infrastructure and affordable residential options.

In the present scenario, Gurgaon and Noida are ruling the Real Estate market and is becoming the most sought after option for those who want to invest in office spaces as well.  We bring to you a close city wise study so that you can easily compare the scope of investing and setting up an office in the city of your choice.

PROSPECTS OF OFFICE MARKET IN DELHI

Delhi has always been the centre for business. The prime locations business activities of Delhi are located in Connaught Place, Barakhamba Road and KG Marg. The GDP of Delhi increased by 10.7% between 2007 and 2012. One cannot tell that which business sector rules the city; with such an old history and being the capital city of India the city is a home to various sectors like hotels, aviation, media, telecommunications, technology, banking and tourism.Though the city is completely packed, Saket and Jasola are emerging into new business centers.

PROSPECTS OF OFFICE MARKET IN GURGAON

Gurgaon enjoys the titles, ‘India’s Singapore’ and ‘Millennium city’ solely because of the rapid growth that the city has achieved in the past five years. One of the main attractions that Gurgaon has for the investors is that it is nearby to International Airport. Gurgaon contributes to nearly 40% of the national industrial growth. At present the office market in Gurgaon is concentrated in Sohna road, DLF Cyber City, Golf Course and Golf Course extension road. Besides IT, non-IT sectors like banking, consultancies, finance are also expected to increase in the current year.

Gurgaon is being struck by two major issues due to which people are ready to consider other options as well; one being the increasing congestion on the road leading to traffic jams and the other being high rentals for office spaces in the areas like DLF Cyber city. Still, according to the market analysis Gurgaon Real Estate stands strong chances.

PROSPECTS OF OFFICE MARKET IN NOIDA

Noida lies behind Gurgaon when it comes to Real estate industry. Noida offers 17 million Sq.Ft. of fresh office space by the end of the year 2014. Special Economic Zone status, its suburban atmosphere and its proximity to Delhi gives Noida an added advantage and attracts investors.

Noida has emerged as a hub of automobile industry, IT and not to forget the Film City. Right now, Noida-Greater Noida expressway is the most popular choice for investing in office spaces.

Property in Gurgaon

GURGAON REAL ESTATE IN 2013

Though the UNION BUDGET-2013 was not up to the expectations of the Realty Sector still, this industry has not lost hope. If we go by expert advice, year 2013 has a lot in its store for the Real Estate Industry. Most of the development and growth is expected to be in Gurgaon and Noida. The prices of residential projects are likely to appreciate in 2013 which will attract many investors to the market.

When we talk about Gurgaon, there was an improvement in the year 2012 as compared to year 2011 in terms of residential projects. Research shows that in year 2012 around 22,000 new residential projects were launched in Gurgaon.

The question is what attracts investors to Gurgaon?  The reason is quite visual. The development in past 25 years has helped the city to achieve the title of Millennium City. Drastic growth in the commercial and industrial sectors has driven the growth and development of Real Estate in Gurgaon.

Current year-2013 will mainly be dedicated to the development and completion of the projects by the builders. Gurgaon acts as a magnet to all sorts of investors; be it in residential or retail. The highest appreciation will be seen on Dwarka-Gurgaon Expressway and Golf-Course extension road. The factor behind this development is that these locations enjoy close proximity to the capital city-Delhi.  Another positive point is that Golf-Course extension road promises steady construction schedule.  This led to the growth in the lifestyle and here is the city today offering best of Restaurants, 5 star hotels, Clubs, Golf-course, best of schools offering good education, high street markets, malls and off-course luxurious residential projects making Gurgaon a city with ideal climate for business and residency.

When so many people started to migrate to the city due to their work, growth of amenities, facilities and infrastructure in the city became the need of hour. The city at present is the most happening place as it has many pubs, lounges, great eating-joints and clubs. The development of IT/ITeS, MNCs and corporate offices has forced the young professionals to settle in the city as well. Gurgaon has become a place where young India dreams and dares to achieve. Gurgaon for them is young and fast city which gives a lot of opportunities to grow.

Like we know that perfection exists only in dictionary, Gurgaon too has some drawbacks. Though the development plans were high but in the past years Government failed to keep up the pace with the rapidly upcoming residential projects. Slow infrastructure development in the city disappointed many investors and buyers giving Gurgaon a bad status. Gurgaon government is doing all it can to make the city rise up among the neighboring NCR cities. Providing broad roads for the swift flow of traffic, manicured parks to provide greenery to the city and improvement in the infrastructure is all the government is working at. Changing shape of Gurgaon is not only attracting the working class but also the businessmen and the elite classes as well.

Talking about the future; it is bright and promising. The city shows a lot of potential and will continue top the realty charts.

Property in Gurgaon