Property Prices in Gurgaon

Posted on May 19, 2010
Filed Under Finance |

The continuous growth of the property prices in Gurgaon is undoubtedly due to the booming IT and the ITES sectors. The increase in the demand of the commercial units has simultaneously initiated huge demand for residential complexes as well. To purchase or take rent on property in Gurgaon, you are recommended to get updated with the current property prices of the area where you intend to go for real estate investment.

According to the latest price trends in Gurgaon, the average price of commercial plots is 13.85 crore while the average price of office units is 2.49 crore and the average price of shops is 1.90 crore.

Updates of Property Prices in Gurgaon (March 2010)

1 BHK apartments - 27.43 Lakh
2 BHK apartments - 50.68 Lakh
3 BHK apartments- 86.12 Lakh
1 BHK houses - 48.57 Lakh
2 BHK houses- 62.60 Lakh
3 BHK houses - 1.03 Crore
Residential Plots - 1.96 Crore

In spite of the global economic slump, the property prices in Gurgaon are always on upward scale. Let us explore few facts related to the property prices in Gurgaon realty market.
Facts on Property Prices in Gurgaon

The cost of property investment has increased as the interest rates are on the higher side. For long term investors the present scenario of Gurgaon property prices is highly lucrative. In fact, the property investment returns within a year are almost non-existent.

The revision of collector rates also causes the hike of property prices in Gurgaon. The circle rates revised by the Gurgaon District Administration have caused quantum leaps in the rates of New Residential Zones (NRZ) of Gurgaon.

Even though the revision of the circle rates of properties other than the ones located in the NRZ (New Residential Zones) of Gurgaon has slowed the rate of increase of prices but the land owners or the farmers who own the cultivable land receive the maximum benefits.

The thriving realty market is expected to witness construction of 10,000 new luxury flats in the ensuing years. On the phase of the economic revival, the Gurgaon real estate market is flooded with news of announcement of many ambitious projects developed by major realtors of the region. So, if you are planning to purchase or invest in property, you are recommended to go for it right now.

Addi Sharma is a well known author and has been writing content for iTrust Financial Advisors. iTrust is a leading personal finance portal in India providing excellent services in financial planning, real estate India including Gurgaon real estate and buying real estate in India

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