The satellite city of Delhi's NCR is amongst the world's best township which has developed in a very short span of time. Conscient Hines Elevate is the home of many MNCs and IT companies as well as for small businesses. A lot many corporate offices are established in Gurgaon. This city is emerging as the base for many companies.
Gurgaon real estate is rapidly growing and making its mark on the world. Many people are shifting to Gurgaon from different parts of the country. Not only the residents of India are making investment in the Gurgaon property but many NRI's are also investing in Gurgaon projects.
The modernization of the town is attracting a large number of investors to invest in apartments in Gurgaon. The Strategic location of Gurgaon is working as a plus point in the growth of real Estate industry in Gurgaon.
Gurgaon real estate offers a great range of luxury villas, Apartments, Conventional flats and many residential pots. Gurgaon is a place where one can find the buildings designed by world's best known architects facilitated with all modern amenities like modular kitchens, gyms especially for the occupants of the complex, swimming pool, play area for kids and club houses.
The Booming economy of Conscient Hines Sector 59 is able to bring the big name in real estate developers to the city. Godrej Properties are also coming up with its new Project "Godrej ARIA" in Sector 79, Gurgaon. Godrej ARIA is being constructed on 17 acres of land offering 2/3/3.5 BHK apartments with all modern facilities. This residential complex is beautifully developed at the foothills of Aravallis. The Complex gives a perfect view of Aravalli hill, a picture perfect view with greenery all around the complex. "Godrej Aria" the residential project in the Suburbs of Gurgaon is amongst the projects which one cannot afford to miss. The residential complex is being designed by the world famous architects. The interiors of the apartments are designed keeping vaastu in mind without even compromising with the designs and luxury.
This residential project is located at the most promising location of Gurgaon. Godrej ARIA, Sector 79, Gurgaon on Sohna Road is well connected to Delhi and Greater Gurgaon. Godrej Aria is a name to say home with easy connection to Indira Gandhi International Airport which is at a drive of 20 minutes, South Delhi is only at the drive of 30 minutes, and National Highway-8 is at a drive of few minutes. Northern Periphery Road and southern Periphery Road are well connected to the complex which offers a comfortable access to Delhi. The Residential city of Godrej ARIA is well connected to Delhi via metro routes.
Last five years has seen Residential Properties In Gurgaon on the fast track. The much awaited National Highway 8 and now the introduction of metro to Gurgaon is only going to make things better for Gurgaon. Gurgaon, the millennium city, is already home to many IT majors and multi national companies. Residential rental is at its peak in Gurgaon. The retail market too seems to be catching up.
Thanks to the sealing drive a number of shops are shifting to Gurgaon and its malls. To rent retail properties in Gurgaon has become an expensive proposition. With the demand growing up in leaps and bounds for retail outlets in Delhi and NCR, like Gurgaon, especially after the sealing drive, the lease to rent retail properties in Gurgaon and Delhi, which has already seen a steep rise of 100% up in the last one year, will see a an increase in rentals further by 30 to 40% in the next six months, feels the experts.
Areas like NCR and Delhi are governed by a master plan. The master plan has designated spaces for residential and for retail development. In Delhi, due to lack of supply of land for retail development, retail outlets came up in unauthorized manner in residential and all Dora lands. The Lal Dora land at the border has seen sealing of all the shops there. This has only heated up the Gurgaon rental property rates.
Experts feel that such an astronomical increase in price will only hurt the market. The rental property in Gurgaon is as high as Rs.200 per sq. ft. per month of a ground floor of a mall. The other floors too demand the same rates. Delhi rentals have gone high as Rs. 500 per sq ft per month in retail outlets.
According to the experts, lease rentals of a shop should not be more than 7 to 9% of total revenue. But, at present rates the rentals are around 15 to 20% of the revenue. Any further rise in lease rentals will only make business unviable.
The hospitality industry is also making its way to Conscient Hines Gurgaon. In a recent development, DLF tied up with Hilton to open hotels and service apartments across the city. This would only help the vacation rental property in Gurgaon to grow.