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Are gurgaon property prices increasing

Are Gurgaon property prices increasing?

Gurgaon property prices had been increasing for several years before the recent global economic meltdown.  In fact there had been a phenomenal increase in property prices. A few decades ago, Gurgaon had been a little known Haryana village lying close to the Delhi border.  With the economic renaissance in India following economic liberalization, foreign direct investment found the region an ideal destination.  The Corporates coming to India to open shop in Delhi found Gurgaon in the NCR an ideal spot.  This aspect has a direct impact on Gurgaon property prices increasing.

There is another significant factor contributing to the increase in Gurgaon property prices.  Along with the presence of the corporate offices, a host of ancillary institutions catering to the needs of the immigrant population have come up in the region.  World-class public schools, business schools, engineering and IT colleges and institutes have come up in the region.  Alongside, premium hotel brands, shopping malls, BPOs, hospitals, cinemas and other commercial establishments found their place in the city.  Sensing the growing commercial significance of the region, major housing companies like DLF, Ansal, Parsvanath, etc. commenced their operations at multiple locations in the city.  This has necessarily contributed to the considerable increase in Gurgaon property prices.

The increase in Gurgaon property prices, however, faced a slump recently in the sweep of the global economic downturn.  Reportedly, the slump, though waning, continues. It has been assessed by the property dealers and other insiders that the slump has in fact affected only the commercial property sector and investment sector.  Residential property value in Gurgaon has been continuing without considerable fluctuations. This is more relevant in the case of medium and small size apartment sector.  Even in the residential property sector, investment-oriented properties have come under the sway of the slump.Realtors and industry specialists of the region are of the view that this slump in the market is of short life and they believe that the Gurgaon property prices will be in the upswing in the immediate future.

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