Gurugram’s Real Estate Recovery in 2018

Defining the skyline of NCR- Gurgaon

Gurugram was largely responsible for the NCR real estate market making a steady recovery during 2018. The city witnessed large scale developments in the last couple of years – from public infrastructure and housing projects to commercial and retail developments. Infrastructure developments such as the Dwarka Expressway, Southern Peripheral Road, and Rapid Metro which connects areas in Gurugram such as Cyber City and Golf Course Road to Delhi and NH8, are driving Gurugram’s real estate market.

Gurugram has the third-highest per capita income in India. It is this financial muscle that realty developers are looking to capitalise on, and top developers in Gurugram have been fairly successful in doing so, especially after the implementation of the RERA Act and GST. With improved accountability and transparency, more people are returning to invest in this market.

The Haryana Affordable Housing Scheme or HUDA scheme rolled out by the Haryana government in 2013, has augmented the availability of affordable housing projects in Gurugram and other cities in Haryana. It was envisaged as a sincere attempt to provide affordable homes within the limits of the main city, and the implementation of the scheme has been fairly successful. Below we look at these and other factors that shaped Gurugram’s real estate market in 2018.

The Revival of the Gurugram Real Estate Market

Gurugram’s recovery from the jolts of demonetisation, GST and the RERA Act has been a positive one. Market analysis shows that the sector is slowly adjusting to policy changes and recovery can be observed on both the supply and the demand side. According to a report by property consultants Knight Frank, Gurugram witnessed a 35% increase in launches in 2018, and 8% increase in sales from last year. There was also a 15% reduction in unsold inventory indicating that sales and buyer confidence has picked up in the market.

Improved Infrastructure

Improved public infrastructure generally contributes to an improved real estate market. The completion of the Dwarka Expressway has had quite a direct impact on realty prices and general buyer sentiments. Further improvements and enhancements on DEW will boost Gurugram’s realty growth. Upcoming developments such as the Delhi-Mumbai Industrial Corridor (DMIC), and proposed Jewar Airport are also pushing growth in this region. These developments have ensured seamless connectivity from far-lying suburbs to the office and commercial hubs. Consequently, a number of affordable housing projects are coming up in peripheral suburbs where land rates are relatively low.

New Launches by Established Realty Developers

The region of NCR witnessed a 35% increase in the number of units launched, out of which 52% of the units were in Gurugram. Projects that are near-completion or ready-to-move-in apartments are garnering more inquiries from buyers. Established players such as Godrej, Shapoorji Pallonji, Hero, Sobha, etc. have announced a number of launches in 2018 in Gurugram, indicating the rising stocks of its realty market. Additionally, the commercial market in the NCR region has witnessed a 14% growth in leasing and a whopping 86% growth in new launches. Gurugram was also the leader in the absorption of office spaces, accounting for 66% of the absorption in the NCR region.

Push for Affordable Housing Projects

Residential inventory in Gurugram is priced relatively higher than other regions NCR. However, its relatively better infrastructure makes it an attractive market for aspirant homebuyers. To cater to this demand, HUDA launched a number of affordable housing projects in the last 2 years. Under its scheme flats are priced between 15-25 lakhs, with exemption of maintenance charges for up to 5 years and possession promised within 4 years. The flats were allotted through a supervised lottery. This scheme, as documented, has benefited thousands of families and brought the dream of ‘affordable housing for all’ closer to reality in Gurugram.

It is a model, based on a solid foundation that has found success in Gurugram and offers a template for policymakers elsewhere to follow and replicate. Also, trends such as smaller apartment sizes, integrated townships, ready-to-move-in homes are contributing to the sale of affordable housing projects in the city.

Gurugram’s real estate future’s looking brighter in 2019. A number of projects are nearing completion and attracting interest from buyers. As observed, although the first half of 2018 witnessed a rise in affordable housing projects in the Gurugram market, the second half has seen notable developers launching projects above the 75 lakh price band indicating demand for such developments. The improved infrastructure developments have further attenuated Gurugram’s desirability factor.

Hero Homes… A Brand Creating Sustainable Communities

Hero Homes

The Hero Enterprise has its roots going back several decades to 1956 when Dr. Brij Mohan Lall (BML) Munjal – the Groups’ Chairperson – established Hero Cycles in Ludhiana, Punjab. Dr. Munjal laid a strong foundation of Groups’ mission-critical values – Trust, Care and Nurture – which empowered its’ stakeholders to see the Group scale global popularity and appeal.

Hero Homes

Since its inception, Hero Enterprise has successfully ventured into various industries, including, Learning and Development, Insurance, Consulting, Real Estate, and Steel with brands such as Hero MindMine, Hero Realty, Hero Steel, and Hero Corporate Service – Insurance Distribution, which speak aloud the Groups’ glorious legacy.

Diligently following the footsteps of Dr. BML Munjal, Mr. Sunil Kant Munjal (SKM) – The Chairperson of Hero Enterprise – has three strong criterions before considering any new venture:

  • First, the senior leadership team should be passionate about that business;
  • Second, it should have the maximum positive social impact;
  • Finally, it should create way for Hero Enterprise to be in a leadership position in that particular business.

Convinced with the promising / positive socio-economic prospects of building homes and developing vibrant communities in India, Hero Enterprise ventured into the real estate development, with the launch of its real estate Arm – Hero Realty in the year 2005.

Hero Realty in its decade old journey has proudly won the hearts of more than 2,600 patrons, already, by successfully developing 1.8 million sq. ft. of residential space across major cities in India. The company is currently managing 6 million sq. ft. of under development projects, including seven ongoing residential projects across Haridwar, Ludhiana, and Mohali.

Hero Homes

Hero Homes at a Glance

A Hero’s Promise:

Hero Homes – a proprietary brand of Hero Realty has emerged from company’s conviction of building sustainable communities for Middle India, Team Hero Homes is committed to offer enhanced living amalgamated with unparalleled quality features and smart innovations ensuring comfortable living for every homeowner. The emerging developer has strong processes in place for maintaining high quality standards in every aspect of their under-development and / or developed properties.

Company Philosophy:

Hero Homes’ real estate developments are based on its four Design Pillars – Creativity, Fitness, Sustainability, and Community. The company is dedicated to devise lasting housing solutions while focusing on the perfect blend of traditional and modern needs to create vibrant social communities.

The Concepts:

Hero Homes has introduced innovative concepts around its Philosophy of developing sustainable and vibrant social communities that include:

  • The three ‘Green’ R’s – reduce, reuse, and recycle to ensure environment-friendly healthy and sustainable living for residents
  • Home Clinic Concept – A unique Interactive Community Living initiative to build strong coterie of families by organizing customer engagement events for developing a sense of bonding among its patrons even before they start living together.

Hero Realty – Glorious Footprints

Hero Realty has successfully marked its presence through numerous delivered and / or under-development residential as well as commercial projects across Haridwar, Ludhiana, and Mohali.

Haridwar – Paradise(s) in the City of Gods:

Hero Realty has successfully delivered integrated and housing developments in midst of the mystical surroundings of Haridwar. The developer has introduced a bouquet of product offerings from residential plots to housing societies and studio apartments in this divine city, enabling you to choose as you wish.

Hero Homes
Hero Homes – Haridwar-Greens, Haridwar

Major projects in Haridwar include – Haridwar Greens (residential township): Holiday Homes (studio apartments); Gharaunda (budget homes) Alaknanda Plots (freehold town-ship), and UtKarsh (premium residential plots). All these projects ensure availability of essential facilities (hospitals / schools / public transport), modern amenities, environment-friendly infrastructure, natural scenic beauty, convenient connectivity to major destinations, and much more.

Hero Homes
Hero Homes – Gharaunda, Haridwar

Hero Homes, Ludhiana – a Home-Coming:

Hero Homes has its roots evolving in Ludhiana way-back to the Indo-Pak partition era, when the Group’s fore-founder Dr. Brij Mohan Lall Munjal started manufacturing bicycles in the city. Located at Sidhwan Canal Road, Hero Homes has handcrafted an extraordinary lifestyle at the heart of one of the prime neighborhoods of Ludhiana. Aesthetic yet functional, the site ensures a perfect setting for taking immense care of your loved ones and offers a sustainable approach to high quality futuristic abodes.

Hero Homes
Hero Homes – Green Elements to keep you Fit and Healthy

Hero Homes, Mohali – an Ultra-Modern Living Experience:

Hero Homes understands that every home-seeker aspires for a home with modern amenities yet pocket-friendly. Hero Homes at Mohali fulfills this universal desire and has set a new benchmark in value housing in the region.

Hero Homes, Mohali is strategically located in a prime and well connected sector of Mohali amidst a pollution-free, clean, and peaceful environment for a healthy living. Being located close to Airport, the project is thoughtfully supported by an exceptional public infrastructure. The site is tactfully planned to include superb amenities for recreation and rejuvenation of its residents.

Hero Homes
Hero Homes – Ultra-Modern Amenities for a Sustainable Living

Rewards and Recognition

Hero Realty has always been acknowledged for its Customer Centric approach.The real estate developer has recently been awarded as the Emerging Developer, Prestigious Rising Brand – Asia, Best Township in the country (under 200 acres category) and Best Project in Non-Metro City – North India to mention a few. The company continues its sincere endeavors to offer enriched living for its current patrons and future prospects.

The Next Steps

After defining the landscape of structured and organized real estate development at Haridwar along with endeavor of redefining the skyline of Ludhiana and Mohali, Hero Realty has planned to expand its footprints to Tier-I cities across India.

With its recent red-carpet entry in one of the most premium location in the National Capital Region (NCR), Hero Realty has shown its sincere aspiration to ascend its brand-value, nationwide.

Gurgaon – a Promising Destination: Hero Homes is on its way to launch projects in North India’s most sought after residential market – Gurgaon. It is in advanced stages to announce its foray into this alluring residential market. Real estate development in this region ensures growth prospects for corporate developer such as Hero Homes, a developer which is innovative in approach, puts customer at the center of its product offering and is committed to deliver value.

Exchange Your Home For A Branded One At Puravankara’s Big 72 Home Fest

Puravankara Big 72 Home Fest

The Puravankara Group has a wide footprint in real estate in South India. The company prides itself as a very consumer-centric real estate developer, letting their consumers’ interests and needs take precedence. Toward this end, Puravankara is coming up with the Big 72 Hours Home Fest between 15th-17th June 2018. The fest offers an opportunity to choose from a wide choice of ready and under-construction portfolio of both Puravankara and Provident. The fest will take place in Bangalore at Hotel Lalit Ashok. An unique feature of this fest is the unveiling of ‘India’s First Home Exchange Plan’.

Puravankara Big 72 Home Fest
Puravankara Big 72 Home Fest

Homebuyers who are looking to upgrade from their current homes to a Puravankara or Provident branded home can avail of the services of a number brokers, valuation experts, realtors and similar professionals who will be present at this fest to help customers sell their homes. All customers looking to buy a home at this fest can grab the opportunity by availing various finance schemes, discounts and finance plans on offer. Special Big 72 prices of all properties on offer will be unveiled on the 15th of June. Further details are available here.

Some of the properties that customers can choose from in Bengaluru include:

Purva Venezia, Yelahanka @ Rs. 5650/sq. ft.

Purva Venezia
Purva Venezia

Purva Skywood, Off Sarjapur Road @ Rs. 6400/sq. ft.

Purva Palm Beach, Off Hennur Road @Rs. 5990/sq. ft.

Provident Sunworth, Nice Junction @ Rs. 45 Lakh onwards

Purva Westend, Hosur Road @ Rs. 6790/sq. ft.

Purva Westend
Purva Westend

Provident Welworth, Yelahanka Doddaballapur Road @ Rs. 3750/sq. ft.

Provident Rays of Dawn, Nice Junction @ Rs. 45 Lakh onwards

The Puravankara Group known for its professional business practices is one of the more renowned names in the real estate sector over the past 4 decades.  They have an undoubtedly enviable brand image that has made them one of the most sought after names. The Puravankara Group is led by Mr. Ravi Purvankara and is head quartered in Bangalore. The real estate company is backed by prominent investors and is listed on Indian stock exchanges. After having built a strong foundation in Bangalore with popular projects such as Purva Riviera and Purva Venezia, the company has ventured into various geographies in West and South India.

Purva 270
Purva 270

Apart from Bangalore, they have a business presence in Mumbai, Pune Chennai, Hyderabad, Kochi, Coimbatore and Dubai. The company runs a premium housing segment under the brand name Puravankara. A budget housing venture is run under the name Provident. Puravankara develops projects that are priced above 60 lakhs while under the Provident brand name projects priced below 60 lakhs are developed.

The Noida Real Estate Paradox & Godrej Properties’ Venture into Noida

If one mentions the city of Noida in a conversation, a listener is likely to immediately think of the large malls housing the best brands, the expressways, golf courses and the reputed multinational companies which have set up shop here. If the topic of discussion, however, changes to the real estate market in Noida, the response is likely to be markedly different.

Recent news reports regarding the realty sector in Noida, particularly over the last couple of years, have not been the most encouraging to prospective home buyers. In fact, there is significant cause for concern among them when it comes to looking for a good house for themselves, a primary need for any person. Issues ranging from developers running away, massive delays, legal and social issues have all contributed to this perception. A combination of factors at multiple levels has led to this sorry state of affairs.

At the same time, the attractiveness of Noida has not just endured these trying times, but continues to grow further. A leading national level developer, Godrej Properties, has recently entered the Noida realty market, promising to bring its brand value and project execution expertise to residents of this fast developing city. In this article, we assess the state of the Noida market and try to see how Godrej’s track record, particularly in the NCR region, offers signs of hope.

The Promise of Noida

Noida truly has a lot going in its favour. Its biggest positive is its excellent location, across the Yamuna River from the national capital Delhi. Noida and its twin city of Greater Noida are part of the National Capital Region (NCR) and receive plenty of investment from both governmental and private agencies, particularly on the infrastructural and amenities fronts.

Noida - Greater Noida Expressway (Image Source: Wikipedia)
Noida – Greater Noida Expressway (Image Source: Wikipedia)

Noida is extremely well-connected to Delhi and from there, to the rest of the country and the world. Greater Noida is the starting point of the Yamuna (Taj) Expressway, linking it to Agra. The twin cities are also connected by the Noida-Greater Noida expressway. Add to this, the Delhi Metro links the Noida City Centre to all areas of Delhi, offering a reliable commute to residents.

When it comes to amenities, Noida is second to none. Some of India’s biggest malls are located here. The city boasts of top class medical and educational institutions and with the cities of Delhi, Ghaziabad and Gurgaon next door, options are aplenty. The proposed Jewar Airport in Greater Noida is likely to make this area a major air travel hub and save residents the hassle of commuting to the Indira Gandhi Airport in Delhi.

Noida is home to a number of major multinational companies such as Adobe, IBM, Fujitsu, Honda as well as home grown biggies such as TCS and HCL, among others. The city has large IT parks and auto ancillary units.

Adobe India Headquarters in Noida (Image Source: Scoopwhoop.com)
Adobe India Headquarters in Noida (Image Source: Scoopwhoop.com)

Another big positive is that land prices and hence, property prices in Noida are lower than those in Delhi or Gurgaon. This attracts plenty of spillover demand from these cities as well as those from elsewhere. For real estate investors, Noida offers plenty of promise with newer infrastructure projects offering the possibility of good returns.

The Concerns of Noida’s Real Estate Buyers

Noida is of extremely recent origin, having been incorporated only in 1976, and has seen most of its growth since the turn of the millennium, which has been so rapid as to leave behind other cities in Uttar Pradesh. This growth also saw a boom in the real estate market here. However, this is where the problems began.

The Noida realty sector has been dominated by local players. Aided by generous land lease policies of the Noida authority and vast tracts of land being provided by the state Government at throwaway prices, many developers emerged overnight, some looking to make a quick buck. As a result, construction quality suffered and residents, who had invested early, bore the brunt. Buyers also saw a mismatch between the large apartments promised and the smaller ones actually delivered.

Some developers launched too many projects in a hurry and ran into severe financial issues as a result, which led to backlogs and massive delays. Protests by farmers over land acquisition for housing complexes delayed matters further. An order by the National Green Tribunal (NGT) in 2013 (later rescinded), stopping grant of permission to any projects within a 10 km radius of the Okhla Wildlife Sanctuary, further added to the delays and pushed up the cost of construction and purchase. Developers also faced issues clearing their land dues to local authorities and hence, could not procure the mandatory occupancy certificate.

The entry of Godrej Properties into Noida

As mentioned earlier, the Noida real estate market lacks institutional players with a pan-India presence. This could be set to change with Godrej Properties announcing its plans for this market. A subsidiary of the reputed Godrej Group, Godrej Properties has made its name with many landmark residential as well as commercial projects in cities such as Mumbai, Chennai, Bangalore, Gurgaon, Hyderabad and Pune.

Godrej Properties has built a reputation of delivering projects on time and with good quality. Godrej Properties has residential offerings ranging from 1 BHK to 4 BHK apartments, villas and row houses, which cover a large segment of home buyers and suit their budget. Their projects are also known to be environmentally friendly and come with plenty of green cover.

Godrej’s forays into Gurgaon bear this out. Godrej has six current projects in this city. Godrej Frontier comprises of 3 and 4 BHK apartments and penthouses, targeting the premium segment. Godrej Summit has 2, 3 and 4 BHK apartments with large green spaces, appealing to the premium and mid-level segments. Godrej Icon is slightly grander with apartments ranging from 2.5 BHK to 4.5 BHK, with a sky lounge and garden being the standout feature.

Indicative image of Godrej Icon in Gurgaon, once completed (Image source: Godrejproperties.com)
Indicative image of Godrej Icon in Gurgaon, once completed (Image source: Godrejproperties.com)

Godrej Aria targets the mid-level segment, with a combination of 2, 2.5, 3 and 3.5 BHK homes, as does the award-winning Godrej Oasis project. Godrej 101 too offers top quality apartments with 2, 2.5 and 3.5 BHK configurations.

Indicative Image of Godrej Oasis in Gurgaon, once complete (Image source: Godrejproperties.com)
Indicative Image of Godrej Oasis in Gurgaon, once complete (Image source: Godrejproperties.com)

Conclusion

Noida retains its promise as a land of multiple opportunities and is likely to continue to attract prospective residents. With the entry of Godrej Properties in this market, such residents have a reputed name, which carries a reputation for quality and trust, to look to, which is sorely needed here. While Godrej’s detailed plans are as yet under wraps, its past record and offerings give customers reason for hope and excitement.

Summary 

  • Noida is promising, with excellent amenities, connectivity to Delhi, efficient expressways, proposed Jewar airport and presence of multinational companies.
  • Noida is dominated by local players who lower the quality of construction, and deliver apartments smaller in size than expected.
  • Developers also faced problems due to launching their projects too early thus causing backlogs and delays, protests by farmers over land acquisition, and not being able to secure right documents.
  • Godrej Properties has built its reputation with many notable residential as well as commercial projects in cities such as Mumbai, Chennai, Bangalore, Gurgaon, Hyderabad and Pune.
  • Godrej  brings in brand value and project execution expertise to Noida where there are issues of developers running away, delays and legal and social issues.

 

IREO nuspark – A New Way Of Living

We were surfing through a leading classified recently when we came across a new offering by IREO called nuspark at South Gurgaon aka Sohna. South Gurgaon has been an area of our interest given the buzz it is creating in an otherwise slow Delhi NCR market. Recently a group of 11 builders did a joint campaign to promote South Gurgaon as a relatively affordable option to an expensive Gurgaon. In addition to these players, IREO, US$2 billion fund, with a track record of project development and delivery in Gurgaon, launched its new offering nuspark at Sector 4 of Sohna.


IREOWORLD 3

Sector 4 Sohna is little inside the main Gurgaon-Sohna highway towards the famous Damdama lake. Ahead on this road one can find Taj Gateway resort and later the Damdama lake. As per the plans a road is planned to link this area with Gurgaon’s sector 63, further linking it to Golf Course road. South Gurgaon, as described in our earlier notes, is coming up as a destination of choice for schools and colleges. Already KR Mangalam and GD Goenka operate here. There are other infrastructure improvements planned along side development of properties here.

Nuspark is redefining the way one thinks about residential spaces. IREO is known to create exclusive features in their projects and this one lives to their creativity. The apartments which are being constructed here are of 2 and 3 BHK with 9 towers in phase I (G+14 structures).

We spoke to the marketing team at the company and were told that core theme of the project is “fundamentals of living” – water, air, hygiene and electricity. We then went through the offering to understand what it all meant. The company is setting a project level water treatment plant (WTP) which will ensure clean water supply across all tap in the house. One would not need to purify the water again through RO treatment etc, moreover the taps and showers in the bathroom will provide only clean water. Imagine benefits of purified water for your bath, brushing and cleaning hands. To ensure fluctuation free power supply there are plans to install a Centralised Automatic Voltage Regulator (AVR) in order to avoid damages and accidents due to voltage fluctuations especially during the summer. In order to provide for clean air and ambience in the project IREO is building a specially reinforced basement slab of higher load bearing capacity to allow for an enhanced soil depth necessary for planting taller trees.

IREOWORLD 2

The provision of pre-laid conduits allows for easy installation of fibre optic cabling for fast internet speeds. As far as security is concerned, they have designed a 3-tier security system, comprising of entry gates with boom barriers, card access system in entrance lobby and basement lobby of each tower, and CCTV surveillance across main entrance gate, tower entrance lobbies and lifts. They are also using pre-fabricated Panasonic Unit Bath Systems (UBS) designed for enhanced seepage control. The range of features that comes along with it are glass panels for segregation of wet and dry areas within, false flooring design, easier plumbing and drainage system, anti-slip and quick dry-floors designed for quick drainage of water, fewer joint lines and smooth surface finishing among others.
The product overall looks futuristic – smart homes, gadget friendly, hygienic with great surroundings. Though it obviously comes at a price, as company has launched the product at about Rs. 5,400 per sq ft, the box price of a 2BHK will work out close to Rs. 90-95 lacs to begin with.

Ireo is a property developer, established in 2004. The first and one of the largest private equity funds, Ireo has been investing since 2004 through an offshore fund. Both as a financier and developer of its projects the firm is motivated towards execution. Their focus in on Delhi NCR (including Gurgaon), Punjab, Tamil Nadu and regions of Goa, and has approximately 4,500 acres of owned land. Till date, the group has launched 23 projects largely across Gurgaon, Mohali, Ludhiana and Pune. It has alliances with developers and operators like Ascendas, Panchshil, Grand Hyatt and Banyan Tree. IREO delivered Grand Arch in Gurgaon and is fairly advanced in several other projects

Gurgaon – In Search Of Method To The Madness

You can love it, you can hate it but you can never ignore it. Gurgaon, one city that has it all- the good, the bad, the unpleasant and the awesome. The city is a tangle of crowded streets, diverse languages and beautiful architecture. However there is a lot more to it than what meets the eye. Over the years, influx of large number of migrants into Gurgaon who come here searching for better opportunities has changed the demography, economy and make of the city.

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Gurgaon, a gamut of high rise condominiums, glass facades and malls accompanied by a civic infrastructure in shambles. Workaholics paradise, Gurgaon is home to several Fortune 500 firms.. This is the first impression when one thinks about the city. However there’s more to Gurgaon than meets the eye. Today this is a place for neo-rich. We try to list down reasons why Gurgaon is preferred center nowadays –

Economic Growth

The emergence of Gurgaon is a tale of romance between development and prosperity in itself. The story of the city’s economic growth started with the setting up of manufacturing plant of Maruti Suzuki in late 1970’s. Before Maruti Suzuki, Gurgaon was nothing but a village unknown to the national capital. But post Suzuki’s arrival followed by globalization after 1991 economic renaissance, Gurgaon became a force to reckon in terms of industries and property markets. 

Employment Opportunities

A large number of white collar jobs have been created in Gurgaon after it emerged as a hub for IT and IT enabled services in northern India. Also, because of its proximity to the national capital Delhi, several Fortune 500 firms opened their offices here, employing thousands of high-income professionals. And as Delhi was already overcrowded, these people tend to buy apartmentss in Gurgaon itself. The well developed sectors developed by DLF and the Golf Course Road are almost fully occupied. Over time the rise in property values in Gurgaon has made it unaffordable for several middle income professionals. This has led to emergence of new areas such as Sohna or South of Gurgaon and Dwarka Expressway.

Education institutions

Gurgaon’s public school system, managed by the Haryana government, is administered by Haryana Board of School Education. The city is home to large number of private schools, where education is often expensive and the quality better than the government schools. Schools like The Shri Ram School-Aravali (DLF City Phase 4), The Heritage School (Sector 62) and DAV Public School Sector 14 are among the top 10 schools in the city. There are several universities and institutes located in Gurgaon and its nearby areas, that form a part of Gurgaon district including Ansal Institute of Technology; ITM University, Sector 23 A; GD Goenka University, South Gurgaon; Amity university, Manesar; KR Mangalam university, South Gurgaon; Apeejay Stya university, Sohna; BMC Munjal university, NH8; Shree Guru Gobind Singh Tricentenary university, Budhera. Gurgaon is also home to one of India’s top ranked business school, Management Development Institute.

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Connectivity to Airport

Gurgaon is served by Indira Gandhi International Airport, though the airport is just outside the city limits and located within the jurisdiction of Delhi near National Highway 8. The airport is one of the busiest airports in India and provides domestic and international air connectivity. Proximity to the airport was a boon to Gurgaon as it started serving clients from domestic and international markets. In fact it stays the prime reason for corporate’s affinity to Gurgaon than to Noida. This is also the reason that Gurgaon property market was favoured a lot by investors. 

Comparison with Delhi

There has been a sudden influx of people in Gurgaon in the past 10-15 years leading to a property boom and since it is being called the Millennium City of India, the cost of basic living is relatively higher than in Delhi. Gurgaon holds the distinction of being more expensive than Delhi but then again it depends on what area of Delhi is being compared to. As Delhi prime became densely populated the expanding families there chose Gurgaon as a place to settle. Delhi expanded southwards into Gurgaon and today it is such a scenario that Gurgaon is expanding southwards into Dwarka Expressway and Sohna aka South Gurgaon.