Rising Demand of Commercial Property in Gurgaon
The year 2010 has started with a positive note for the property market in India.
The property demand experienced a short-lived slowdown in the year 2009 due to the global recession.
The year witnesses many cancellations and postponement of commercial and residential projects.
The commercial space or the office space suffered quite low demand even more than the residential properties during the slump.
But the year 2010 reports that the demand for office space in the Indian cities is rising with an increase in the cost price of properties and rentals.
The real estate experts say that the market boom, after recession is the reason for the most of the created demand for commercials in the market and are predicting significant rise by the year end.
The market sectors such as the financial institutions, pharma and manufacturing companies have contributed largely to the revival in the market demand of commercials.
The growth in the IT/ ITES sector has been slow even in 2010 and still in the phase of recovery.
With a large number of manufacturers and businessmen entering the market and rapid connectivity through excellent roads and metro trains in the leading cities, the products supply and services are going to progress.
This rising growth is all set to occupy large properties in the realty market for building, business centers with premium and affordable spaces to rent out or sell.
The investors are flocking the market of properties in Gurgaon to grab upcoming "commercial projects" and are mostly being launched in areas with less development but is expected to develop as a lucrative prospect of commercial spaces.
A rising demand for the cheap properties in Gurgaon induced by the recession, has diverted the focus of the developers to launch affordable properties in Gurgaon.
This demand further implicates the creation of new residential and commercial properties in Gurgaon to be launched at a rate that can be afforded by majority population.
The created job opportunities after the recession directly impact the demand for commercial property in Gurgaon adding to the current boom in the real estate of Gurgaon.
Moreover, the rising demand for commercial property is augmenting the demand for residential properties in the real estate market to a great extent.
The property demand experienced a short-lived slowdown in the year 2009 due to the global recession.
The year witnesses many cancellations and postponement of commercial and residential projects.
The commercial space or the office space suffered quite low demand even more than the residential properties during the slump.
But the year 2010 reports that the demand for office space in the Indian cities is rising with an increase in the cost price of properties and rentals.
The real estate experts say that the market boom, after recession is the reason for the most of the created demand for commercials in the market and are predicting significant rise by the year end.
The market sectors such as the financial institutions, pharma and manufacturing companies have contributed largely to the revival in the market demand of commercials.
The growth in the IT/ ITES sector has been slow even in 2010 and still in the phase of recovery.
With a large number of manufacturers and businessmen entering the market and rapid connectivity through excellent roads and metro trains in the leading cities, the products supply and services are going to progress.
This rising growth is all set to occupy large properties in the realty market for building, business centers with premium and affordable spaces to rent out or sell.
The investors are flocking the market of properties in Gurgaon to grab upcoming "commercial projects" and are mostly being launched in areas with less development but is expected to develop as a lucrative prospect of commercial spaces.
A rising demand for the cheap properties in Gurgaon induced by the recession, has diverted the focus of the developers to launch affordable properties in Gurgaon.
This demand further implicates the creation of new residential and commercial properties in Gurgaon to be launched at a rate that can be afforded by majority population.
The created job opportunities after the recession directly impact the demand for commercial property in Gurgaon adding to the current boom in the real estate of Gurgaon.
Moreover, the rising demand for commercial property is augmenting the demand for residential properties in the real estate market to a great extent.