Striving To Make Shopping A Pleasure

Property developers in Gurgaon have begun focusing on construction of residential accommodation_mostly for the end user_in view of the slackening property prices.

The aim is to tap the demand for residential accommodation arising primarily from the large number of corporations relocating to Gurgaon and setting up their corporate offices in the area.

These include Pepsi, Coca- Cola, GE Capital, ICI and Dupont, among others.

"With the walk-to-work culture becoming the trend, executives of companies find it more convenient to settle in Gurgaon than to commute from Delhi," says a report prepared by India Property Research.

The report points out that the change in the focus of developers has also resulted in the prices of residential accommodation moving southward.

The price of a well-specified flat has come down to Rs 11 lakh-Rs 15 lakh from Rs 19 lakh-Rs 20 lakh in 1996, it says. As a result, several such housing projects have been announced and completely sold out.

According to the report, residential accommodation in Gurgaon is available at a range of Rs 11 lakh to Rs 70 lakh. At the lower end two to three bedroom town houses and apartments are available in DLF phases I and II, south sectors and Gurgaon sectors.