Amongst the commercial hubs in India, Gurgaon is one of the few where property rates are comparatively high. There is an unprecedented spurt in the value appreciation for Gurgaon properties over the last decennium. A low profile, ubiquitous sort of Indian village, nestling in a sylvan ambience, Gurgaon was unsophisticated and faceless a few decennia ago. From the days of a low profile of anonymity, the suburban centre has been catapulted to a metamorphosis characterized by an ambience agog and abuzz with corporate intercourse. The reason for the high property rates in Gurgaon has to be analyzed in a broader perspective. In the post-liberalization era, the emergence of India as a major market has necessitated the multi-national corporations to shift their focus to the Indian sub-continent. The national capital, housing the offices and accommodations of the innumerable functionaries and staff of the umpteen Central and State government departments, institutions and instrumentalities along with those of the private sector, cannot provide sufficient facilities for the new entrants. In such a scenario, Gurgaon, lying in the National Capital Region with sufficient infrastructure, proved a better bet for the corporations to open their Indian offices. In addition, the sophisticated transportation infrastructure in the region has facilitated easy access to Gurgaon from the national capital and also from centres in the neighboring states. The nascent Jaipur-Delhi national highway, the Delhi-Gurgaon 8-line expressway and the Delhi-Gurgaon metro rail, etc. have added several dimensions to the significance of Gurgaon as a commercial destination. The companies opening units/offices in Gurgaon belong to the wide spectrum of industries such as those in the IT, BPO, etc. Inevitably, this has led to a concomitant growth in urbanization and the urban centre of Gurgaon is expanding into an ever-widening conurbation. This has all the more created an ever greater demand for residential as well as commercial property. Yet another reason for the high property rates in Gurgaon is due to the fact that the corporate boom in the area has triggered the spurt of a string of management and engineering colleges/institutes, public schools and other educational institutions in the region.
An erstwhile little known suburban locality in the NCR, Delhi, Gurgaon is emerging as one of the hottest commercial spots in India. There is an unprecedented spurt in the value appreciation for Gurgaon properties over the last decennium.