Gurgaon: A Place to Live In - By: Deepika B

Gurgaon, the outsourcing hub of India, has the 3rd highest per capita income after Chandigarh and Mumbai. According to the Business Today magazine, it is regarded as the best city to work and to live in across India. It is considered to be a city with international standards- be it housing or entertainment.

The financial center of Haryana, Gurgaon has emerged as the hottest investment destination for property developers and investors. It has gained such high prominence as a result of the IT and BPO wave that had hit the city few years ago. The standard of living and the quality of life offered in Gurgaon are very high; some even say it is better than in Delhi. Real estate in Gurgaon attracted huge investments from foreign investors and developers as it promised great returns and vast potential.

Property builders such as Unitech, Ansals and DLF started cashing in the development opportunities by constructing international standard colonies and office buildings. The multiplexes and malls came soon after, giving retail realty a big boom as it became an instant hit with people living not only in Gurgaon but in Delhi and other nearby areas also. Gurgaon has become the breeding ground of high-rise apartment buildings that offer all modern amenities from full power backup to tennis courts, 24-hour security to swimming pools and spas.
Apart from construction marvels, Gurgaon real estate offers luxurious lifestyle with offices, malls and schools few steps away. The best part about living in Gurgaon is that all necessary places are barely a kilometer with various malls and companies coming up in the area. Gurgaon is the commercial hub that houses hundreds of multinationals and behemoth brands as well as outsourcing companies.

Many people migrate to settle down in the city, raising the need for housing or renting, buying property in Gurgaon. Also, it has many reputed educational institutions where students from across the country come to pursue higher studies. These outstation scholars also ask for temporary housing facilities adding to the already high demand. This increasing tendency of movement from smaller cities to bigger ones has created a trend of rented accommodations in PGs, flats and apartments in Gurgaon. The following will throw some light on rental values of builder floors and 2BHK apartments in Gurgaon:

-The owners of 2BHK apartments in Sushant Lok, DLF and South City ask anywhere between Rs.12,000 to 30,000 every month whereas builder floors in these areas cost Rs. 9,000 to 20,000 per month.
-Rental values in Palam Vihar, Huda and Sohna Road fall in the range of Rs.7,000 to 20,000 every month and builder floors start from Rs.6,500 to 20,000 per month.
Similarly, capital value for apartments and builder floors in Gurgaon as recorded in April 2010 are as follows:

-Apartments in Sohna Road and Palam Vihar cost Rs. 3,000 to 5,000 per square feet and go higher in areas like DLF, South City and Sushant Lok i.e. from Rs. Rs. 4,000 to 7,500 per square feet. Huda offers variety of options between Rs. 3,000 to 8,000 / sq. ft.

-Builder floors can be bought for Rs. 4,000 to 5,500 per sq. ft. in Sohna Road, Sushant Lok and South City. In DLF, it goes as high as Rs. 8,000 per square feet and is between Rs. 3,000 to 4,200 per sq. ft. in Huda.
Gurgaon has plenty of employment opportunities for professionals from all sectors and levels-experienced or not, making it one of the most preferred career destinations in India. Though, it has transportation problems but with other numerous luxuries, one can afford to ignore it and live happily in Gurgaon.

About the Author

Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers & brokers can exchange information. At 99 acres, you can advertise a property in India , search, browse through Pune property & other Properties.

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