Amongst the four major satellite cities of Delhi, Gurgaon is one of the most sought after cities of the country. The city is just 10 kms away from Indira Gandhi International Airport, Delhi. Gurgaon is also the commercial and industrial hub of Haryana.
Few years ago, Gurgaon was like any other sleepy town on the outskirts of New Delhi. With the liberalization policy implemented in the Indian economy in 1990s, the potential of the Gurgaon was recognized. Haryana government took smart policy initiatives to promote Gurgaon at both the national and international level. Today, Gurgaon has become a role model for new age retail development in the country.
World renowned corporates be it IT, ITES, BPOs, Telecom, etc. have established their office premises in the city. Corporates such as Sapient, Accenture, Agilent, TCS, IBM, Microsoft, Google, etc. are based at Gurgaon. The prominence of various corporates in the city and government support has remarkably triggered the real estate demand.
As per estimates, one can expect the yield returns in residential property of around 5.5% – 7.5%, in commercial property 11% – 13% and in retail 11% – 13% per annum.
The real estate scenario in Gurgaon is characterized by various trends. Some of the core traits are enlisted below –
Gurgaon has earned a global recognition in relative to IT and ITES destination. The city is apt option for corporates and MNCs to meet their office establishment requirements. The property in the city has touched the unprecedented heights and Haryana Urban Development Authority is working in collaboration with several builders to meet the soaring demand.
There has been big demand of residential property in Gurgaon and to gratify the need large number of residential projects are being planned as well as undertaken.
Basis For Boom:
Real estate in Gurgaon is experiencing boom in both the demand and rates respectively. Since late 1990s, the real estate of the city is highly active be it residential, industrial or commercial. Today, city is dot by the skyscrapers and modern shopping malls. Some of the reasons for this upward trend in the real estate are as follows –
- Government support.
- Easy availability of interest rates.
- Increase in foreign direct investment.
- Extension of Metro project to the city.
- Large and spacious availability of land.
- Public and private partnership for urban development.
- Development in retail, entertainment and leisure sector that results in mall culture.
Hyderabad – smart it indianapolis
The meeting point of north and south India is Hyderabad. The city is known for its rich history, culture and architecture. The city is also considered as the gateway of southern India. One of the highly developed city of India, Hyderabad is the emerging information technology and biotechnology hub of India. Known for pearls and lakes, the city is now known for renowned IT companies across the globe.
The city is also collared with great academic institutions and research labs. In India, the city holds the sound infrastructural set up for various types of extensive research. Along with this, the city is boosted by various pharmaceuticals companies like Dr. Reddy’s Laboratories, Matrix Laboratories, etc. The famous “Ramoji Film City” also promises shooting of movies. These and other various factors result in the remarkable growth as well as hike in the real estate business.
Collaborations with other countries are undertaken by the government to promote the real estate industry. For example, the state-owned Andhra Pradesh Housing Board has been associated with two overseas partners(Malaysian and Singapore) to develop integrated townships to cater to the real estate demand and supply. The yield returns of real estate industry are in the range of 8% to12% for the commercial and retail property and 5 – 7% per annum in the residential property.
Some of the property trends of the Hyderabad city are enlisted below –
From residential, commercial to industrial, there has been tremendous hike in the valuation of real estate property. Support from government in relative to real estate has boosted the demand for real estate in Hyderabad. The property demand and rates are on upward trend.
Basis For Boom:
Hyderabad real estate property is characterized by remarkable boom in the valuation due to many conducive factors. Some of the core determinants for the hike in the real estate sector are highlighted below –
- Mall culture.
- Boom in retail sector.
- Fast-growing IT-ITES and BPO sector.
- Liberalization of FDI norms by government.
- Development and improvisation of infrastructure.
- Soundly connected to all parts of the country and world.
- Special Economic Zones (SEZs), IT Parks, etc. by government.
- Road with improved connectivity amongst all zones could have a positive impact on other areas as well.
- Plan for new airport to the south of the city has appreciated the land prices manifold.
- Vital role played by the Andhra Pradesh Ministry of Tourism in the promotion of parks, entertainment zones and hotels.
- Incentives are being offered by the ministry in the form of subsidy in stamp duty and registration charges of property.