17/01/2016
Birds’ Eye View Of 2016 - Must Read
Despite the not insignificant challenges ahead, the future of Gurgaon’s real estate market is positive and hopeful. With a projected GDP growth of around 7.5 per cent, a once again robust economy will generate income for more and more people and most likely boost demand. Gurgaon is the hub of the service industry in NCR, and surrounding areas are becoming increasingly important in the manufacturing sector. The government’s ‘Make In India’ initiative will ensure more industries, and this will directly result in increased housing demand. Secondly, the RBI’s recent rate cuts will start having an impact on bank’s lending rates somewhere by Q2 of FY 2016-17, resulting in lower home loan rates and greater demand. Also, the government’s initiatives of easing FDI in real estate will improve liquidity, meaning that developers will have more leg room for offering good deals to buyers. Another important influencing factor is the Smart Cities project, for which Gurgaon is a strong contender. Its inclusion in this scheme will be a boon for its real estate sector. Is it all wishful thinking? On the contrary — there is strong logic involved. The country’s economic slowdown has troughed out, and the only way is up. The government has woken up to the fact that the real estate sector needs real help, and is making very favourable policy decisions. For a city like Gurgaon that needs only a small amount of stimulus to get up and running again, the winds of change are blowing strong. The changes will not happen overnight, but 2016 will bring visible progress on the ground. As a result, real estate pricing trends in Gurgaon will also begin picking up again. - See more at:
The city of Gurgaon has for long been a bellwether of the rapid growth in the country over the years, thanks to the presence of multiple multinational corporations.