Looking for property? Gurgaon is the place to be.

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Author: amar yadav

Recognizing the trends and an exclusive lifestyle the city offers, more and more individuals are being bullish on buying residential property in Gurgaon. Properties in prime locations in Gurgaon like DLF Phase-1, Sushant Lok, Sector 1, 2, 3, 4, and 5 are seeing fair appreciation in values. You can buy or lease commercial spaces, apartments, flats, villas, shops, office spaces, plots, farm houses, builder floors, agricultural land, etc. Premium structures constructed by construction majors like DLF, Spaze, Ansal, Bestech, Parsvanath, Omaxe, etc. are among the best properties in Gurgaon. Oversupply

the premium residential property sector of Gurgaon is stricken by oversupply, flooded with $1 million-$2.5 million apartments and penthouses.

As per DTZ reports, the supply side in Gurgaon higher-end residential segment has far exceeded the demand side.

With this, the investors are not seeing the kind of returns that they had secured earlier from the deals, and that's why their interest in buying residential property in Gurgaon is comparatively lower than it was a couple of years ago, MP Singh of Silver Estates informed.

Residential rentals- record boom

Residential rental in Gurgaon remains upbeat constantly. Owing to its vibrant economy, lifestyle of residents here keeps on improving, which in turn translate into demand for quality accommodation.

On an average 5-per cent hike has been noticed all across the major residential areas of Gurgaon between August and December 2007. "Biggest reason for this spike is availability. Since, vacancy rates for good-quality houses is low in the prime areas of Gurgaon, landlords manage to get enhanced rental values on their properties," said Rajesh Kushwaha, a property dealer.

Having experienced an unprecedented boom in the past five years, the chances for short term gains have evidentially gone down in Gurgaon property markets; however the long term picture is bright and sunny.

The cyber city of Gurgaon is amongst one of the most potential property markets in India. A latest survey by Indicus Analytics revealed that Gurgaon is one of the most preferred cities to earn a living and provide unparalleled growth opportunities.

Interestingly, Gurgaon tops the list of best to 'earn-in' cities and is followed by Silvaasa, NOIDA, Faridabad, Rupnagar, Chandigarh, Surat, Bangalore, Gandhinagar and Pune. Certainly, with such positive trends, the residential property of Gurgaon is seen as vivacious at least in the long term. Gurgaon is the most happening city in the world. Gurgaon is one of the most sought after locations for residential real estate needs. For residential properties in Gurgaon, there is a definite solution to all real estate needs. It has emerged as a favored residential destination from all over as it has all the characteristics to be a dream destination for home. Easy availability of quality housing at affordable prices and the quality of construction has made Gurgaon most sought after destination for buying or leasing residential property. Greenery, tranquility, spaciousness are accompanied by availability of modern facilities and amenities. Many prestigious schools have their presence in the city. It is a peaceful area where crime rate is very low. In recent past real estate Gurgaon has emerged as a very big residential center Although capital values of residential properties in Gurgaon is sky high, investors who had purchased properties, especially in the 60-sq. yard segment, in view of exorbitant returns are now adopting long-term perspective, and ready to wait rather than selling them in a hurry. The city also offers a wide range of affordable residential houses for middle class segment. DLF has recently launched "New Town Heights" and Vatika has launched "Vatika India Next" for the mid budget home buyers. The independent houses and higher end segments like villas, condominiums and penthouses cater to the rich and famous in the corporate world and expatriate clients. Due to its proximity to south Delhi and connectivity to the international airport Gurgaon has become world class real estate destination for investors of India and abroad. Average square foot cost of 1BHK apartment in Gurgaon is approximately Rs. 3,700 and average price per unit is Rs. 26.5 lac. In the case of 2BHK apartment, the price per square foot is Rs. 4000 and the average cost per unit is approximately Rs. 45 lac. For 3BHK apartment, the average cost is around Rs. 4100 and approximate cost per unit is Rs.73 lac From Independent Houses to Apartments to Villas everything is available in Gurgaon catering to every buyer's need. Independent Houses are available in DLF Phase I, II, III, IV, South City I, Green wood City and Sushant Lok and many more. Apartment/Condominiums are available in Beverly Park I & II, Belvedere Park & Towers, Heritage City, The Laburnum, Hamilton Courts, Windsor Courts, Regency Park I & II, Richmond Park, Uniworld City, Uniworld Gardens, Uniworld Spa, The Palms, Central Park, Pinnacle, The Icon, Aralias, Malibue Towne, Orchid Greens etc and list is endless. You can have Greenwood Villas, Nirvana Country, Viesta Villas, Today Villas and Rosewood Villas to mention a few. Today people consider residential property in Gurgaon as a valuable investment since Gurgaon is fast developing in the corporate world. Having own residential property in Gurgaon is having something worthy.