Friday, 9 October 2015

Properties in Gurgaon to be affordable this festive season

Satyajit Rane, a businessman who came to Delhi five years ago, would have loved to settle in Gurgaon but high property values did not allow him. Gurgaon has benefit of metro connectivity and has abundant water supply, electricity and proximity to business centers.

Looks like a good deal? Do not be hesitant now to invest in Gurgaon. There are also many new upcoming projects in the township that will attract buyers.

Check the latest properties in Gurgaon:

Market Trends: In the last few months, trends indicate that in the absence of a defined affordable housing market in Delhi, relatively cost competitive markets such as Uttam Nagar, Ghitorni, Pandav Nagar, Aaya Nagar and Mehrauli have gained significantly. However, some parts of these areas are unauthorized. Be it for rental returns or for end use, buyers are enthusiastic about affordably priced, conveniently positioned homes throughout Delhi.

Take the case of Aaya Nagar: Power of attorney is banned and banks refrain from giving home loans in some cases. But for those who have already bought here, the strategic location with respect to Gurgaon helps in gathering sizeable rental yields. Keshav Srikant, broker at South Delhi Properties says, “Most buyers in this area are not permanent residents. They buy a house to earn rental income and for a Delhi pin code and then lease them. Rents are in the range of Rs 3,500-12,000 monthly and for single professionals, this is easy on the pocket.”

Research Areas: If you are a buyer, your research should help you identify areas that are still subject to further authentication. The department of Urban Development has released a list of 895 such colonies which are in talks for further regularization.

Festive Offers: With the regularization on the cards, these affordably-priced homes may soon become safe to invest in. The developers are offering discounts as much as 25 percent on 2BHK, 3BHK and 4BHK apartments this festive season to entice customers to own a house at a competitive price. Around Rs 200 per sq ft discounts are offered by developers on apartments based in Gurgaon locality this festive season.

In most of such unauthorized colonies, there are tenements shared by low-income residents to builder apartments. As a buyer you would need to be clear on whether the construction is legal. As in the case of Pandav Nagar, there are certain housing areas that have legal constructions.

Source: PropertyatNeoDevelopers.Wordpress.Com

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