If there is a property market worth talking about, then it is Gurgaon. The city is one of the biggest hubs of commercial as well as residential property development.
Over the years, Gurgaon has become one of the most sought after destinations for property development. The city is home to the biggest of firms in the world. It all started only twenty five years back when the city was nothing but a village with numerous houses built by the retirees. But when the first offices of the outsourcing division of General Electric were established here, an era of development started that has brought the city of Gurgaon on the world map. Over the years, the city has spawned the property development on an unprecedented scale. The commercial development is as prominent as the residential development and if there is a property which is among the most valuable across the country, then it is a house in Gurgaon. Over the years, the city has been experiencing a decline in the property sales. However that is changing fast in the year 2015. The Gurgaon property is back in demand!
The Ailing Property Sector and its Fantastic Recovery
When the recession hit the Indian markets, the property sector across all territories was hit. However over the years, the city of Gurgaon seemed to be one of the hardest hit. There were certain areas where the sales stalled completely and the builders are clearing inventory even till date. If the estimations are to be believed, there were lacs of unsold properties in the city by the end of 2015. The high prices of accommodations and the high interest rates in the past few years kept the properties in Gurgaon out of the reach of consumers. As a result of the low sales, the builders started seeking newer alternatives. The only sales that carried on in the city were in the areas which lay adjacent to new development projects.
The city was one of the first to adopt the apartment culture and if one seeks the apartments of the best kind, they are available in the city. Over the years, the property development in Gurgaon may have slowed down but the value of the houses in the city remains high. The outsourcing sector and the other IT intensive businesses in the city have kept performing. However the prices remained appoint of contention when the interest rates were high.
Finding the Best Homes in Gurgaon
If you plan to buy property in Gurgaon, now is the time to invest in one. The stellar performance of the property business in the times to come has been initiated by one of the biggest builders in the country. After years of slowdown, Tata Housing launched a luxury project in the city that has enhanced the standards of the upcoming Indo – foreign collaborations. Now that the interest rates have reduced, the city has emerged as one of the most prominent locations for property purchase. The upswing of the industrial sector is also responsible for the rise in demand for property business in the country.
Now one can search for individual apartments as well as new projects in Gurgaon using the property website housing.com. The portal has been present in Gurgaon for a long time and helps in effective property search.