What better way to secure your financial future than to start investing young? Gaurav Sharma, a senior IT developer aged 29, living in Delhi and working in Gurgaon, was tired of the long travel time to work and paying huge monthly rents. His friends suggested he buy a home in Gurgaon, which is flourishing with options for people like him.
Gaurav started looking for options, and realised that the travel time from old Gurgaon to his office was close to 45 min – 1 hour, almost as bad as commuting from Delhi ! He read a report published by IIM-Bangalore about New Gurgaon in the Times of India (read here), and then there was no looking back.
Gaurav discovered that the key attribute of New Gurgaon is its connectivity with Delhi via Expressway, Metro Rail and Bus. It is also well connected via the Expressway to Jaipur and to Neemrana, which includes a 1,200-acre Japanese zone which is 70% operational. The internal roads have also been better planned as 120 meters wide sector roads and 60 meter wide arterial roads. The proposed Delhi Metro, will also give a huge boost the local transport infrastructure and connectivity to all areas of the NCR. A number of landmark developments like the recently opened Hyatt Regency and also the Hines building in Cyber City 2 are also in close proximity.
With this connectivity and infrastructure, it took Gaurav only 15 minutes to get to Cyber City 2, 10 minutes to reach Manesar and all of 25 minutes to reach IFFCO Chowk!
Prices in New Gurgaon are currently Rs. 6,500 – Rs. 8,500 psf; Rs. 8,000 – Rs. 10,000 psf in Dwarka and Rs. 10,000 – Rs. 12,000 in Golf Course Extension. Due to proximity to the major centres of employment and entertainment, facilitated by better connectivity, superior sector roads and infrastructure and landmark developments, New Gurgaon has already seen significant property price appreciation of 50-% and property experts are predicting that prices are likely to become higher than Dwarka and possibly also Golf Course Extension Road. The sectors which have gained popularity are 81 to 86, 91, 92, 93 and 95.
What’s more, prominent developers are offering flexible payment plans linked to possession, making it easy for young investors to enter this market.
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