Gurgaon Rides the Real Estate Boom

The once sleepy town of Gurgaon in Haryana hasskyscrapers dotting the landscape.
witnessed a real estate boom since the late 90'sThe proposed expressway to Jaipur, metro rail
following liberalization of the Indian economy.connection to Delhi and the special economic zone to
Gurgaon, like Pune, Chennai, Hyderabad andbe developed by Reliance Industries has made
Bangalore, attracts IT professionals in droves. TheirGurgaon apartments treasured possessions for
salaries are comparable to the best in the world. Thebuilders and owners alike with the rush for bookings
high disposable income in the hands of employees ofstill on. All these have contributed to increased
the booming service sector in Gurgaon has led toconstruction activity in the town.
tremendous spurt in demand for Gurgaon properties--Property in Gurgaon also attracts high rental values.
both for commercial and residential use.Many residents of posh South Delhi areas buy
Strategic locationapartments in Gurgaon while some have already
With a space crunch in national capital Delhi, MNCsshifted lock, stock and barrel there to escape Delhi's
plump for nearby Gurgaon and many have made itcongestion and pollution. Those who sell apartments
their corporate headquarters in the country, as it isin Gurgaon these days get much higher returns than
just 10 km from the Indira Gandhi Internationalin the case of flats in other areas of the national
airport.capital region.
Gurgaon property values have skyrocketed over theSo, Gurgaon property owners are set to witness
past decade due to this burgeoning demand. As ahappy times. However, to keep the cash registers
result, Gurgaon properties have drawn hugeringing, the city authorities will have to do their bit to
investments both from inland and overseas. Thecheck the rising crime graph and improve the power
influx of funds has transformed this one-time villagescenario.
into a hi-tech city with multistoried malls and