Flats In Gurgaon Witnesses A Growing Demand

The Millennium city, as Gurgaon is commonly referred to has grown rapidly from a small village into a sprawling residential and commercial center. It is often no longer mentioned as simply a part of the NCR but has acquired an identity that is separate from New Delhi as well.

With residential homes that consist of independent homes and high rise apartments, Gurgaon offers future residents diverse options pertaining to the kind of housing they prefer to live in. Even Gurgaon’s neighbor New Delhi may not have as great a variety of apartments for buyers to choose from.

In Gurgaon, the selection of flats for buyers to choose from is rapidly increasing as is the size and magnitude of the development which the flats are a part of. Currently there are over 450 new developments under construction in Gurgaon; many such new developments are being built close to the new hot spot in the city, Sohna Road. At sector 36 Sohna, it may still be possible for middle class buyers to own a flat in the city of Gurgaon as buying the same in other parts of the city may be prohibitively expensive.

Sohna road may offer an attractive and affordable alternative to those eager to own property in Gurgaon, for instance most 2 BHK flats in Gurgaon are usually priced at well over 50 lakhs in most parts of the city; however at Sohna Road there are new developments under construction where the same are available for just under 40 lakhs. Such properties offer the chance to many middle income households to own property in the millennium city, something which many middle class families may have thought they had no chance of owning.

Sohna, a city next to Gurgaon, is where a few builders in Gurgaon have ventured in an attempt to tap a hitherto untapped and potentially relatively high end real estate market. For many owning property is Gurgaon is almost impossible, however Sohna, which is part of the Gurgaon district has a few upcoming developments and may be an attempt by builders in Gurgaon to recreate at Sohna what has been done at Gurgaon over the past 30 years. Till today the property market at Sohna may have been only modestly impacted by the entry of a handful of new builders, prices for apartments at Sohna stand at close to 4,200 rupees per square feet but have fallen to this level after reaching a high of 4,500 rupees per square feet nearly a year ago.

 

What lies ahead for the city of Gurgaon is anybody’s guess; however the large number of new residential projects in Gurgaon clearly implies that demand for residential housing in the city is yet to be fulfilled. Whereas flats in Gurgaon are now priced nearly 10% lower than they had been at the peak of the real estate market boom and for many investors this may be a signal to come into the market and purchase an investment home in the city, many middle class families are still barred from becoming homebuyers in the millennium city due to the exorbitant prices of real estate. Whether Sohna is the right place for such middle class families to invest is far too early to say.

Popular types of property in ahmedabad

Dubbed as the automobile capital of the state of Gujarat, Sanand is the location of the TATA plant manufacturing the Nano. The Ford Company too has a manufacturing plant at Sanand.

Property in Ahmedabad at Sanand is relatively inexpensive when compared to other localities of the city. The average price per square foot for an apartment here is lower than 2,000 rupees per square foot which is quite inexpensive. Prices here have been rising over the past 3 years and property at Sanand has appreciated by close to 19% in that time. A 2 BHK 1200 square foot flat could be yours at Sanand for as little as 23 lakhs; however Sanand has larger and more elaborate homes that are priced significantly higher costing several crores. Such properties typically are 4 to 5 bedroom set homes. 

If you require a little more space than a 2 BHK apartment and have the budget to match, then you could be the proud owner of a 3 BHK 1800 square foot apartment at Sanand, the unit in question would cost you only about 38 lakhs and the said project is expected to be completed in two years.

Despite what may seem to be a few highly priced properties in this region of Ahmedabad, Sanand does not have well developed civic services and lacks fully developed health facilities and suffers from a paucity of schools in the region. Regardless, there are now nearly 10 developments under construction at Sanand and with time as larger numbers of families move into the locality an improvement in civic services in the region is virtually guaranteed. 

To a buyer who is keen to look at some of the Luxury apartments in Ahmedabad I would ask him or her to look at properties at other localities like Satellite, however to someone keen to own apartments in Ahmedabad who is willing to wait a few years for a property to appreciate in value, Sanand is certainly one part of the city to consider when buying a flat.

Prices at Sanand have appreciated over the past few years and in all likelihood shall continue to do so well into the future. An added advantage which Sanand has is the presence of large automobile manufactures which in all likelihood shall remain at Sanand; such presence over a long period of time is almost certain to lead to improvements in the quality of life for the residents of Sanand and an appreciation in the price of property at the locality.  

As many new projects in Ahmedabad are under construction at Sanand, they point to the future potential of this part of the city and the nearly consistent trend of increasing property values at Sanand validate this claim. Over time Sanand may go on to become as attractive a destination for homebuyers as Satellite is today. 

For buyers who are interested in increasing the value of their real estate portfolio, Sanand provides an attractive means of doing so. It is part of an industrial region in one of the most important real estate markets in the country, the future of real estate in Ahmedabad could not be brighter and with it that of Sanand.   

Soaring Demand of Residential Property in Ahmedabad

Ahmedabad is touted to be the largest city of Gujrat and also an epicenter for commercial  activities. The demand for residential property in Ahmedabad is soaring high due to the good policies and their implementation by the State administration for the past few years. A number of good companies have also entered into the space with an intention to set up their base in  the city  over the past few years. People migrate to this city in huge numbers in search of lucrative job offers every year.  This has not only boosted the industrialization, but increasing number of footfall has also led to significant escalation in the demand of residential property in Ahmedabad. The improvements in infrastructural facilities like electricity, roadways, and water etc. has made Ahmedabad a favored destination for many investors.

With a positive outlook more and more top builders in Ahmedabad are showcasing their interest in the property. They are looking forward to start their ambitious residential projects in the city. Also, the government’s aggressive strategy to attract foreign and national investments has paid off, resulting in a heavy influx of investments in the city. This has led to an increased business activity and demand for property, including Commercial property in Ahmedabad.  

With a slew of meticulous projects delivered by the top builders in Ahmedabad that offers high class lifestyle, top notch amenities and a good environment to its residents, the residential real estate has set a benchmark. This has also promoted the launch of other promising residential projects in the city. No doubt the people are spoilt for choice in this city with a plethora of lucrative projects. Such increased activity has led to immense competition among the real businessmen guaranteeing quality final product to the end user.

Connectivity

The city is well connected by road, rail and air which also plays an instrumental role in escalating the demand of residential property in Ahmedabad.  Sardar Vallabhbhai Patel International Airport, also known as Ahmedabad Airport, links the city with major national and international destinations. 

Ahmedabad Municipal Transport Service (AMTS) and interstate bus services here link Ahmedabad with major cities in the state as well as in India. There are regular buses for Mumbai, Shirdi, Pune, Bhavnagar, Surat, Vadodra and Gandhinagar from Ahmedabad. The city of Ahmedabad is well linked to most part of the country via an extensive rail network. A number of superfast and express trains are available for metro cities like Mumbai, Delhi, Kolkata and Chennai from Ahmedabad Railway Station, which is also known as Kalupur Station.

With the economic and business activity showing no signs of slow down even in the global recession and more and more foreign companies showing interest in setting up businesses, the real estate residential sector  is gearing for one of the most attractive investments in the coming time. Property in Ahmedabad lures investments from all across the country and abroad. The city dwellers to NRI’s are interested in investing and cashing in on the boom.  

Destinations that hit the list of Top Residential Real estate in Pune.

Pune has seen tremendous growth and a slew of developments in the recent past due to the rise in the economic activities, driven by IT/ ITES companies. The city boasts of a robust educational hub & one of the largest automobile industry base in the country. The growth is further supported by the proposal to construct Pune’s Ring Road, Pune Metro, New Airport, numerous Subways and Flyovers. A large middle class job base along with upcoming infrastructure has spurred the demand of residential properties in Pune.

Captured below are some hot properties that fall under Top Residential Real estate in Pune.

Wakad

Strategically located on the northern side of Pune, close to National Highway (NH) – 4 and Pune – Nashik Highway. Wakad is well connected to Central Pune and Western Pune via NH 4 and Old Mumbai Road. It has close proximity to Pune Airport, accessible via Wakad – Airport Road. Even the metro in its phase 2, is likely to connect ASI and Hinjewadi that will further boost the connectivity of this location, as Wakad will be located in close proximity with the metro.

Due to presence of several blue chip companies in close vicinity, the place witnesses huge demand of residential units from working professionals. Wakad is also conveniently placed with Hinjewadi, one of the biggest IT markets of India with a high population base.

Talegaon Dabhade

The region is located on northern side of Pune, situated in close proximity to NH 4 & Mumbai – Pune Expressway. The location is well connected by road, rail and air. Backed by robust connectivity, Talegaon has evolved into an automobile and industrial hub with the presence of well-known companies that has further escalated the demand of residential units in this location. To cater to the growing demand, some of the renowned developers are showcasing their interest to launch promising projects in Pune.

Hinjewadi

Hinjewadi is situated on north-western side of Pune. It is well connected to NH 4 and NH 50. The location has evolved into one of the biggest IT parks in India over the last few years. It is home to many giant IT companies The overall job market of Hinjewadi is around 350,000 that is expected to double in the coming time. On the back of easy accessibility and excellent connectivity, a good number of builders came up with plethora of meticulous projects from investors that also spurred the demand of residential properties in Pune.

Kalyani Nagar

Located on eastern side of Pune, the region has close proximity to Pune Airport, Pune Railway Station & NH 9. The area has good internal roads and enjoys connectivity with other parts of city via local buses. Kalyani Nagar is also an upcoming IT hotspot along with a spate of attractive retail outlets, hotels and restaurants. The presence of IT companies along with great connectivity has been triggering the demand for residential real estate in this location.

Hadapsar

Geographically situated on either side of NH 9 in Eastern parts of Pune, the region has superb connectivity to Pune Airport, Pune Railway Station and Central Pune. It is in close proximity to areas like Kalyani Nagar and Koregaon – key neighborhoods of Pune.

All these areas capture interest of builders and investors and are touted to be the top residential real estate in Pune mainly because of the two factors - connectivity corridor and industrialization.