The fast-paced development in Gurugram is inviting a lot of business investments in real estate from industry leaders since the last few years. With the prospect of improved transportation and basic facilities in the region, the future of real estate investing looks promising there. Over the years, the construction of the Dwarka Expressway and the development of the peripheral areas has led to a catalytic increase of demand in properties.
Here are a few changes that can subsequently take place in the real estate industry in the near future:
Affordable Properties
In the last few years, property rates in Gurugram have gone through a lot of ups and downs. The connectivity that the Dwarka Expressway brought there caused a surge in property rates.
However, since the Covid-19 lockdown, property prices have come down again. Over time, with more and more real estate projects establishing around the Expressway, property will become more accessible as well as affordable for both businesses and the public in Gurugram.
Improved Connectivity
Close connectivity to prime locations in Delhi and NCR has increased because of the Dwarka Expressway. It also links important locations like the IGI airport with the key residential and commercial places. This has resulted in an increased demand in the number of hotel and hospital chains around the Expressway.
In addition to big heavy investments, the face of local marketplaces will also change due to improved connectivity. Local hubs of premium marketplaces will emerge in time and change the commercial scene for the residents there.
Commercialization
Many investments in high-value commercial projects by industry leaders are already generating profits and serving the emerging population. In fact, the Haryana government, in partnership with Reliance, is also initiating the setting up of Special Economic Zones (SEZs) near the Expressway. This will lead to a further boost in investments in the commercial sector.
With Gurugram all set to become the new IT hub, more and more job opportunities for the public will emerge, which can lead to a shift in workforce in the region. An overall change in the population demographic is likely to follow.
Value Appreciation
With such infrastructural changes about to take place, a significant price appreciation in commercial and residential real estate is sure to take place. This means that present investments in real estate can give significant returns in the future in Gurugram.