The Problems with the Ailing Real Estate Gurgaon

Gurgaon property at Makaan.com

Since the day I have been commuting to Gurgaon, I have not encountered two consecutive days when the traffic was all-smooth and I could reach office on time. Many-a-times , I have thought of relocating to the city, as commutation from Delhi takes too much of a time. But the city is facing too many problems of its own. Buying flats in Gurgaon comes with too many repercussions. One, the traffic problem, I have already mentioned. There are many other that make me and many other buyers apprehensive of leaving Delhi and shifting their residence here.

The prices are too high. Have a look at the new projects floated by the eminent developers. None of them cater to the affordable class. Most of them have been developed to cater to the high-end buyers who are backed by strong financial means. Even if you are going for a 2 BHK apartment in the city, you may need to spend around 70k! And for flats with more rooms, price rarely is below 1 crore. For middle-income group, it is a too much to ask for. Real estate Gurgaon has fully blown into a bubble, a bubble that has reached the verge of bursting anytime.

The cost of inputs required for construction is on a all-time high. Water, electricity, sand, and other materials cost too heavy for developers, and they, in turn, keep on rising the prices month after month. This, along with the delay in completion, makes the buyers feel disgusted and cheated as well. Then come the countless frauds that have driven their sentiments to the negative direction. There have been cases, when the occupancy for flats in Gurgaon gets delayed by many years. Last, but definitely not the least is the number of frauds that have caught the realty market. Developers, builders and agents play really dirty games with the 'not so well-informed' buyers: double dealings, selling unauthorized constructions, lack of approval from authorities have played havoc with the buyers' interest in making a purchase.

Makaan.com, the real estate portal, lets you search 1, 2, 3 BHK flats in Gurgaon. Look for the quarterly price trends for real estate Gurgaon and join forums to get yourself apprised of the property trends.