The Gurgaon property news would provide you with the clear idea of the latest activities taking place in the market. If you update yourself with the latest happenings in the real estate sector, you would come to know about the recently launched properties and the price trends. The following Gurgaon property news update would be very informative for you.
Latest Gurgaon Property News
Though two years back at the time of recession, Gurgaon property market mainly survived on the affordable real estate segment, at present the demand for luxurious sector is gradually rising. As the developers are now sensing the early signal of market upswing, they are now focusing their expertise in the luxury homes. Host of property dealers like the DLF, Unitech, Emaar MGF and Ansal API are about to launch premium residential projects where each unit would be commanding a price of Rs 2 crore.
According to the Confederation of Real Estate Developers’ Associations of India the proposed Model Real Estate (Regulation of Development) Act could lead to an escalation of prices of housing stock in the country by Rs 300 per sq ft. CREDAI vice-president Prakash Challa expresses that the bill at its present form can be detrimental for the industry. As the price would be rising up to Rs 300 per sq ft., the concept of affordable housing would be a failure.
DLF is planning to buy out the property arm of Dubai world, its international partner in the 50:50 joint venture in order to develop Bidadi Knowledge City. The DLF would be buying out the stake owned Limitless Group, part of the Dubai World for around Rs 200 crore.
The Gurgaon real estate is thriving. Though the market is still recovering on the asset price crash in 2008-09, some of the prime pockets have come close to the peak prices of 2007-08. As the earning capacity of the professionals and the businessmen are gradually increasing as well as the scope of business expansion, the market is soon to be turning into a booming one.
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