Gurgaon real estate received new launches of residential projects. Reduced interest rate and festive season together caused the boom of Gurgaon real estate.
Gurgaon real estate witnessed the launch of large numbers of residential projects. The demand in the city was paced up by festive season and lower interest rates. Yet due to the hike of prices, many could not purchase any home on this auspicious Dhanteras.
Festive season welcomed large number of residential projects in Gurgaon. The real estate developers had been waiting for the festive season to launch their newer projects.
Sanjay Sharma, Managing Director of real estate consultancy Qubrex, revealed that the booking for the new residential projects are really welcoming.
Higher demand has caused price hike in some of the sectors of Gurgaon. Sector 104 Gurgaon is one among them. The property prices have gone up by a huge margin here. The same is the case with most of the sectors. For example some projects have received an increase of nearly Rs.2000 per sq. ft.
Gurgaon real estate has become a high yielding land for real estate investors. The growing importance of the city has attracted more real estate investors to the area.
Real estate investors are always interested in new projects. Most of such new projects offer repayment schemes which are mainly dependable on the construction. Easy payment scheme and the required lower amount of investment make it more profitable to the real estate investors.
Some of the sectors of Gurgaon has seen low absorption rate. PropEquity’s CEO Samir Jasuja pointed a 47% drop in year to year in the absorption in south Gurgaon. Meanwhile the rate of absorption drop in New Gurgaon is 31%, he added.
Dwarka Expressway has received some newer projects. New launches are increased by 74 % while the increase in absorption rate is mere 12%. These figures describe how demand lags behind the supply.
One exception to this situation would be Dharuhera which witnessed a fall of new launches by 85 %. The area boasts of a 27% increase of absorption too. Such trends are welcomed as they are promising.
The Gurgaon real estate is not only supported by the festive season. The lower home interest rates by the banks played a vital role in the boom of Gurgaon real estate. Lower interest rate has persuaded the investors to greater extents.
Festive season which was supported by the lower interest rates caused a growth in the home purchasing. Yet the hike in prices drove the people away from purchasing homes during this festive season. The reports show that auspicious occasion of Dhanteras dragged the people to a great level and real estate stood top on all the Dhanteras purchases.