Trammell Crow Meghraj Property Consultants report says it's the new destination for non-polluting industries. | |
| Growth in IT sector, booming economy and construction of Delhi-Gurgaon expressway has all given boost to real estate market in Gurgaon. |
| |
| With time and changing life style, markets have matured and shown sufficient appetite for high-rise condominium housing as well, according to a report released by Trammell Crow Meghraj Property Consultants. |
| |
| Unlike other towns in the NCR, the regional development plan for NCR perceives Gurgaon as a centre for non-polluting high technology industries, with an objective of controlling the growth of Delhi, and shifting the growth spill into the suburbs, the survey adds. |
| |
| Real estate market of Gurgaon has been derivative of property markets of Delhi and for a long time acted as its extension. |
| |
| Place of residence near to work place is being preferred with more and more corporate setting up their office premises and campus developments in Gurgaon. |
| |
| Most of the top management and the middle management executives working in Gurgaon have stepped up demand for all types of accommodation in the vicinity of their work place. |
| |
| This has resulted in both leasing and purchase activities firming up in the last few quarters. |
| |
| This increased activity resulted in the capital values going up in prime residential buildings in Gurgaon by 20-30 per cent. |
| |
| Land rates have been appreciating by about 25-30 per cent in last one year in most of the locations in Gurgaon. |
| |
| With the progressive movement of economic activities into Southern Delhi, Gurgaon received a major growth fillip. |
| |
| The recent exodus of corporate and multi-nationals from the congestion prone and highly priced CBD of Delhi to Gurgaon, has given a boost to real estate development here. |
| |
| Gurgaon has emerged as the prime commercial destination with world-class quality and cheaper real estate prices. |
| |
| The thrust to economic activities was given with the setting up of industrial estates led by the Maruti Udyog Limited. |
| |
| Simultaneously there was a thrust of residential developments there, particularly those led by the private players, namely Ansals, DLF and Unitech. |
| |
| These residential suburbs were basically extensions of the South Delhi residential areas. |
| |
| The success of these also led to the spate of commercial developments where Grade A quality spaces were built and it attracted away the MNCs from the CBD who were looking for larger floor plates, lower rentals, quality spaces and ambience. |
| |
| Companies such as British Airways, Du Pont, Fluor Daniel, British Gas, Thomas Cook, Seagram's, Gilette, Perfetti, royal Sun & Alliance, Max New Life Insurance, Lucent Technologies, Silicon Graphics, IBM, Beckten Dickenson, Marconi, American Express, HTA, Nestle, Siemens, Rolls Royce, Svedala, etc have already moved to Gurgaon. |
| |
| The majority of tenants in Gurgaon commercial market comprises of IT and ITES sector, which accounts to approx 57 per cent of the total tenancy. |
| |
| The rest of the tenants are from sectors like consulting, financial institutions and insurance. |
| |
| The real estate market for commercial spaces in Gurgaon is quite active. |
| |
| The continuous flow of corporates to the sub-urban areas has always kept the market active, for which the city is always in want of more commercial space. |
| |
| High occupancy rate in the commercial towers in Gurgaon well proves the demand and activeness of the commercial market of the city. |
| |
| The total supply of office space in Gurgaon is approx 8.2 million sq ft with an approx occupancy rate of 88 per cent. |
| |
| The supply of office space in the pipeline adds up to around 2.5 million sq ft. |
| |
| Residential market in Gurgaon was initially kick started by a handful of developers like DLF, Ansals and Unitech, who subsequently developed their plotted townships DLF City, Palm Vihar & Sushant Lok and South City respectively. |
| |
|
| |
