Flooding Dampens The Sales Prospects Of Properties In Gurgaon

The recent flooding of the city of Gurgaon has badly impacted the sales prospects of properties in Gurgaon real estate. People who were looking to buy flats in Gurgaon Sector 56 and other properties in Gurgaon have not put their decision on hold as they feel that they city does not have good infrastructure. Investors who were looking to invest here are now doing a property search and focusing on other India property.
Few weeks back the Gurgaon authorities has slashed the property rates in Gurgaon real estate this had made investors look at the city favorably over other India property. Buyers were doing a property search to select flats in Gurgaon Sector 56 or other properties in Gurgaon that would fall in their budget. But all the positive sentiment have been lost now as many  people are calling the city hollow which looks great on the outside but does not have proper infrastructure to support its development.

Many investors have in the past chosen to invest in flats in Gurgaon Sector 56 and other properties in Gurgaon over other India property as the city offered numerous opportunities. Over the years the city was nicknamed the millennium city and it attracted more and more investment, doing a property search here became a serious job as real estate became expensive due to high demand. But it looks now that the tables of fortunes have turned after the flooding as investors are refraining to invest in Gurgaon real estate.  This should send a strong message to the state government that just slashing prices is not enough to attract buyers to the market; proper infrastructure should also be offered.  Only time will tell whether the government has taken a cue from the situation or will the status will remain quo over the years.

Earthquake Hits Sales In Gurgaon Real Estate

Recent earthquake in the Hindukush area in Afghanistan has shaken the faith of people in investing in seismic sensitive zones like Gurgaon real estate. Since Gurgaon falls in sensitive zone 4 the area is prone to earthquake disasters. A sudden drop in demand for real estate Gurgaon has been seen post this incident.
Infact Gurgaon properties like property in Sohna Road have seen a drastic drop in the number of sales enquiries. Many people living in flats in Sohna Road had rushed out during the earthquake. The worst hit is the Gurgaon properties on the higher floors. Ground floor and first floors are still preferable investment option. People still prefer to buy flats in Sohna Road on lower floors, but there are simply no takers for flats in Sohna Road which are on the higher floors.  Many builders also have noticed that now people are asking for earthquake proof homes.

It’s not only the sale of property in Sohna Road that have been affected, the rentals too have been affected by the trend. Now agents say that most people prefer to take property in Sohna Road on lower floors. Many people living on rent in high rises are looking to shift to lower floors in Gurgaon real estate.
This trend is worrying the owners of Gurgaon properties on higher floors as they feel that might have made wrong investment move. But according to realty experts there is nothing to worry as it is unlikely that the demand of Gurgaon real estate will affected on a long term basis. Most experts feel that real estate Gurgaon will get over the incident and the demand of flats on higher floors will revive soon. For investor and end-users this might be a good time to strike a bargain and get a steal deal in real estate Gurgaon.

New Developments Set To Boost Gurgaon Realty Even Further

Gurgaon Properties At Makaan.com

There is widespread demand for properties in India across only a few lucky markets which have managed to make a quick recovery from the intermediate property slump that gripped most major markets including metropolises like Mumbai, Delhi and Kolkata. Gurgaon real estate has been swift in making a recovery from this slump with steadily rising demand for housing and high activity and transaction levels in the market. The demand for Gurgaon properties is anticipated to rise even further over the next couple of years owing to several key developments and infrastructural improvements. Gurgaon is today a leading commercial and business hub adjacent to Delhi and is home to numerous shopping malls, employment avenues and corporate clusters. The population of Gurgaon has seen a jump over a period of 3-5 years and this is set to go up with more and more companies making a beeline for the city. Infrastructure has undergone huge improvement and some developments will definitely boost demand in the near future. Real estate Gurgaon is set to benefit from improvements in water supply, sanitation and public transport. Free Wi-Fi connectivity will also be available in public places soon. The Darbaripur, Noorpur, Bandwadi and Baliyawas villages will be included within the Gurgaon Corporation and this will lead to further expansion. The metro railway extension will also boost realty progress in Gurgaon. The Rapid Metro will link Sectors 56, 44 and the Golf Course Extension Road by September 2016.

Five zones will be the hubs for street markets in Gurgaon, an innovative concept floated by the municipal authorities. Additionally, the authorities are working on making 24-7 water supply a reality in several areas and the Chakarpur pilot project has already been successfully completed. Night markets will be introduced across Gurgaon to improve overall safety while street lighting will also be enhanced. Public transport facilities will be improved and underpasses are also being constructed at IFFCO Chowk, Signature Chowk and Rajeev Chowk. Lighting has been boosted in Rajeev Chowk, Old Delhi Road, New Gurgaon and Pataudi Road among other areas. Such infrastructural developments promise to boost realty markets even more in Gurgaon as per India real estate reports.

Supertech To Offer Affordable Housing in Gurgaon

Real Estate Gurgaon at Makaan.com

People who were not able to find affordable properties in Gurgaon can now take a sigh of relief as Supertech a Noida based realty company plans to invest in Gurgaon real estate and flats in Gurgaon. The firm is looking to invest approximately Rs 2,000 crore in Gurgaon real estate in the next few years. The group plans to develop several luxury as well as affordable flats in Gurgaon. Recently Supertech has launched two projects in Gurgaon real estate . The company has acquired 400 acres of land in Gurgaon real estate. 

The group for the first time has hired a CEO, who will take care of the realtor's operations in the Millennium city. According to industry experts, this move showcases the importance the firm gives to developing proprieties in Gurgaon. The Millennium City is one of the largest and most important real estate markets in India. In the past few months the company had raised Rs 400 crore from a private equity firm Xander in order to finance its upcoming township that will offer flats in Gurgaon and affordable properties in Gurgaon. Although the company has a major presence in Noida Supertech is also now trying to set it footprints in Gurgaon. The companies also has a presence in Rudrapur, Meerut, Dehradun, Ghaziabad, Haridwar and Bengaluru.   

Currently Supertech has approximately 90 million sq. ft. land under construction in various segments such as residential, commercial as well as hospitality. The company has also recently announced a university in Uttarakhand. However a few months back Supertech faced a setback after the Supreme Court had ordered the builder to refund money of investors of it two towers in Supertech's Emerald Court located at Expressway Noida. Alongwith this the court has also directed the company to refund money to the investors with 14% interest compounded annually.

Gurgaon Real Estate: The Dire State of Affairs

Real Estate Gurgaon at Makaan.com

What went wrong with Gurgaon real estate? A city that houses some of the glossiest skyscrapers and is a home to some of the best corporate companies seems to have failed in its very purpose for which it was developed. Today, its realty market is all down in dumps. Blame it on the way reckless manner it witnessed residential and commercial development, or the extortionate price rates can be held culpable for the same. Or a combination of both.

Though the residential projects for properties in Gurgaon are largely brought into being with planning, the larger picture does not say so. The developers and builders left no stone unturned to utilize every single piece of land available for construction. Their  devil-may-care attitude in bringing about their projects into reality played havoc with city's resources. Consonantly depleting water table and slacked earth surface due to excessive sand mining have already posed an alarming picture. For buyers intending to make a purchase in the city, such trends have turned the sentiments largely negative. For a city that won't be able to sustain itself in the coming years, it is very difficult to create new demand market.

As far as realty prices of realestate Gurgaon property are concerned, they have only treaded an upward graph. The way rates have appreciated over years has created a lull in the demand market. Most of them are far from being affordable by low and mid-income brackets. Even for  high income groups, the rates are beyond their purchasing capabilities. Cumulative effect of the skyrocketing rates can be seen in the low demand -supply ratio. Developers never let the prices to correct and this, in turn, has kept the purchasers at distance.

There are several other dampening factors responsible for the dire state of affairs for property in Gurgaon. Lack of any traffic-alleviating system, not enough traffic signals, and below mark basic amenities have further added to the woes of this Millennium City.