The commercial real estate market in India is expected to grow at a CAGR of approximately 13% during 2022-2027
By Mid-2022, absorption of Grade-A office space is estimated to exceed 700 million sq. ft, with Delhi-NCR accounting for the majority of this demand. In the first half of 2020, Mumbai saw a 36% increase in demand from consulting firms in terms of total office space leasing.
If we talk about Gurgaon, Retail and hospitality are also growing significantly in the commercial real estate market, providing the much-needed infrastructure for Gurgaon’s growing needs. Gurgaon’s commercial real estate sector is projected to be accelerated by large-scale investments by institutional investors in the coming years.
The real estate sector in the country has been greatly boosted by government initiatives, such as Make in India, and other reforms in the realty sector, such as the introduction of the Real Estate Regulatory Authority (RERA) and GST. Despite their initial troubles, developers and buyers are moving to the commercial real estate sector due to the transparency and competence of the sector, which has attracted increasing amounts of foreign direct investments (FDI) in commercial estate.
Gurgaon is widely becoming popular in real estate. The availability of well-designed residential and commercial properties makes it hot spot for real estate development. Gurgaon not only offers great infrastructure but also provides security and potential clients. Looking upon commercial real estate, Gurgaon has wide range of properties that influence real estate investors. Various aspects increase the demand of commercial real estate in Gurgaon such as –
Reasons behind high demand of Commercial Real Estate in Gurgaon
1. GEOGRAPHICAL LOCATION
Before investing in a property, location plays pertinent role. It is advantageous for investors to take Gurgaon into consideration as it is witnessed as one of the best locations in NCR (National Capital region). Areas which benefit good return on investment to investors, such as Dwarka Expressway, Sohna Road, and Golf Course Extension are now convenient to travel to with the availability of Gurgaon metro services. Hence, investing in commercial properties for corporate or retail business in Gurgaon is particularly effective.
2. LOCAL RESOURCES
Various civic resources available in Gurgaon influence the real estate investors. It offers extensive transport network, wide roads, and excellent parking system which make the city, a better choice for investors.
While looking upon investment in commercial real estate, prices need to be considered first. From low price rentals to flexible co-working spaces, fulfill the desires of low budget investors. Business owners can increase the credibility of their brands with these high yielding properties in the budget that suited them.
4. AVAILABILITY OF MULTINATIONAL COMPANIES
Plethora of IT firms available in Gurgaon make the place popular among real estate investors. Investors find it highly beneficial to invest in corporate spaces increasing the demand of commercial properties in Gurgaon. Many commercial projects like DLF Cyber City, Udyog Vihar, DLF Corporate Greens, JMD IT Megapolis, Unitech etc offers corporate offices to many IT firms across Gurgaon in the localities of Golf Course Road, Sohna Road, Golf Course Extension Road, Southern Peripheral Road (SPR), Sohna Road etc.
High standard of living is another aspect to increase the demand of commercial real estate in Gurgaon. People preferring comfortable and high lifestyle gives commercial real estate owners to sell their properties to those who are looking for setup their retail showrooms.