Why Do Home Buyers Prefer New Gurgaon For Investments

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

Those investing in Delhi NCR have turned their attention to New Gurgaon for several reasons. The latest sectors of Gurgaon have good residential projects being developed in the areas of Sectors 85 and 91. New Gurgaon is strategically located between the industrial city of Manesar and Gurgaon. It contains newly developed sectors. In the past months, the micro-market has seen a lot of realty development. Prominent developers are launching new projects in Gurgaon in these areas.

The sectors that fall under New Gurgaon include Sectors 95, 94, 93, 92, 91, 90, 89, 88, 87, 86 and 85. These sectors have housing projects being developed by leading promoters. The current capital values for these flats in Gurgaon are much lesser than what prevails in the established areas of Gurgaon.

The lowest property rates are for Sector 95, which range from Rs 3500 to 3950 per sq ft while the highest value is for Sector 85 that varies between Rs 4250 and 5070. Compared to Gurgaon, where the prevailing property prices in average rated sectors is Rs 8000 to 9000 per sq ft, this is quite reasonable.

What has prompted home buyers to turn to residential projects in New Gurgaon?

The top reasons are discussed below:

Buying Property Tips#3: Choose the Right Property
Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
Buying Property Tips#4: Do the Math Properly
Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
Buying Property Tips#5: Consider Additional Expenses
When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.
  • The three prime corridors of Sohna Gurgaon Road or Southern Peripheral Road, Gurgaon-Dwarka Road or Northern Peripheral Road and the NH8 connect with different parts of NCR.
  • The NH8 passes through here which connects it to the National Capital Delhi and also Neemrana in the Alwar district of Rajasthan, which has developed into a prominent industrial town. Companies such as Gillette have their plants located here.
  • Much of the new projects here are located in Sector 85. This is because prefer this neighbourhood for the presence of numerous hospitals, malls, shopping centres, recreational zones, banks and schools.
  • Those working in Gurgaon and Manesar can avail affordable properties in the area. The availability of land parcels has prompted developers to start township and tenement projects. The low New property prices have prompted buyers to turn to the area. Living in Gurgaon is a viable proposition as home owners would not be too far from Delhi, which would have been the case if they were living in Manesar.
  • The area enjoys good communication with important highways of the NCR- the Gurgaon Dwarka Expressway, Kundli-Palwal-Manesar Expressway and the NH8. The construction of the Dwarka Expressway is back in track and shall be completed soon. Once done, it will ease commutes between south Delhi and IGI Airport. Currently, the Millennium City has to depend on the NH8 for commuting to Delhi. With the completion of the Expressway, traffic on NH8 shall be decongested. Travel time to Delhi shall also be only half an hour, which is currently more than an hour.

The good planning of sectors in New Gurgaon coupled with well-developed social amenities make New Gurgaon a promising realty destination. It is definitely the stretch to be watched out for close to Gurgaon.

Buying Property Tips#6: Inspect the Property
To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
Buying Property Tips#7: Pick the Right Financing Option
While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
Buying Property Tips#8: Invest through Equity
One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
Updated: March 10, 2018 — 10:30 am
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