Gurgaon is a residential hub with ready-to-move-in luxury apartments, semi- or fully furnished flats, penthouses, and villas in various configurations and locations to suit your needs. It has always been the most appealing property investment destination in Delhi-NCR, especially in recent years. Among the most critical factors are the rapidly developing infrastructure, world-class transportation connectivity, including metro rails, roads, a railway station, and an international airport nearby.
Apart from these, the Dwarka expressway highway, numerous commercial spaces and high-rise buildings for office purposes, job opportunities, and a plethora of other essential and luxury amenities have made the real estate market of residential property in Gurgaon one of the most appealing in not only the NCR but also in the country.
Another major force driving investment in Gurgaon, both in the residential and commercial sectors, has been rental income. People see the millennium city’s rapid evolution and development as an opportunity to earn a handsome rental income after investing in residential property in Gurgaon.
For people in the middle class who already own a home, investing in Gurgaon for long-term rental income is one of the best financial decisions they can make. It’s also worth noting that India’s strong economic growth in the previous year has resulted in a surge in foreign investment in the construction sector.
Real estate developers are focusing their resources and efforts on developing luxury housing in response to the growing demand for luxury homes. As incomes rise & spending power increases, there is an increasing demand for ultra-luxurious residential property in Gurgaon like villas, builder homes, condos, designer apartments, etc.
Real estate developers partner with international players to provide the best in terms of quality and luxury to their clients. These players bring their international experience and a world-class touch to the table. Investing in Gurgaon real estate for a dream home that offers the best luxury and a great living experience is a great idea.
If you are planning to buy a residential property in Gurgaon, here are 11 factors to consider;
Purchasing your residential property in Gurgaon necessitates both emotional and practical factors. If you are a frequent investor/buyer or retailer, it is easy to discern what to consider and what not to, but if you are an initiated buyer, here is a list of factors you must consider;
It goes without saying that if you want to avoid falling into the seemingly alluring traps of brokers and agents, you must prioritise your budget. Do not irrationally overextend your margin, and do not overlook hidden costs.
Although it takes some time, the effort is well worth it. Determine whether or not the location is a good fit for your personality. If you’re an outgoing extrovert, you might want to join some social clubs. If you prefer peace, you must first determine whether the area is too noisy for you.
For the joy of exploration, you might not want to stay in the same place for several years. Check to see if the residential property in Gurgaon you’re considering will get good resale value.
If you find a villa, apartment, or flat with RERA registration, buy it without hesitation because this registration protects you for the next five years against any losses incurred due to structural defects.
It’s essential to consider the size of your dream home. If you want to start a family there, you will need enough space. Even if you live in a joint family, your dream home must comfortably accommodate and nurture your family.
Connectivity and Transportation;
Every once in a while, every professional and business person has to move around the city. Ensure the area where you plan to buy a residential property in Gurgaon is well connected to the rest of the city and offers convenient public transportation options.
The legal dimensions;
Make sure to read all of the property-related documents thoroughly. If a property is under legal action or has compliance issues, it is best to avoid risky investments.
Your surroundings will determine the quality of your life or the likelihood of rental income. Do your homework and weigh the benefits and drawbacks of committing to a specific property.
We all have a right to a healthy and safe environment, as well as equitable access to natural resources. Check if the locality’s water and power supplies are in good working order. It’s also a good idea to check the air quality in your immediate area, as many diseases these days are spread through the air.
Infrastructure for social interaction;
If you intend to live in the residential property in Gurgaon you are considering purchasing, it is critical to determine whether the area has adequate administration offices, schools, colleges, hospitals, parks, banks, and playgrounds. Nobody wants to travel miles for these basic needs, so it’s a good idea to double-check all of them.
Review the infrastructure plans;
This is one of the most critical aspects of the process for first-time home buyers. Checking to see if a major infrastructure project is underway in the area where the property is located can result in very high returns on investment. Consider the amenities available on and around the property. Ensure that the developers in and around the area provide all necessary amenities. A nearby commercial hub can help you make a better decision.
Don’t be too enamoured with a property’s exterior quality; instead, have it tested by a professional structural engineer or architect. A well-built residential property in Gurgaon can easily withstand unpredictable natural or man-made disasters, making it an important consideration.
Contact a reputable and reliable realtor;
Even if you do your homework, there’s no way you’ll be able to comprehend the real estate industry’s business better than realtors who have been trained in it. So, before you get started, hire an excellent realtor to help you through the process.
Because this is a once-in-a-lifetime decision and investment for most people, do not hurry into purchasing a property and consider all of the practical aspects rather than taking a leap of faith when it comes to investing in residential property in Gurgaon. If you need any help while purchasing your dream home, please get in touch with us. We’re here to assist you.