Gurgaon Reviving But "Infrastructure" Still a Road Block

By: George Gonigal ">

For the last few months Gurgaon real estate industry was undergoing a slow down phase but now it is back to life. According to industry sources, the current upward trend in the property values is not just confined to the high-end luxury apartments, but the HUDA properties are also doing well.

Retrospectively, during the hitch period, the apartment capital value, in the range of Rs 3500-3800 per sq ft came crashing down to Rs 2500 per sq ft, making the property market of the city slump like never before. But, at present, property values have doubled and even tripled at some places.

Researches unearth that, the fall by and large was due to the lack of infrastructure facilities in Gurgaon. Gurgaon real estate agent, Anil Mehta adds, 'besides poor infrastructure facilities the bad response to certain properties further resulted in the shortage of investors so much so that NRI investors nearly gone astray from the market but now the business has regained the lost tempo.'

Though, the real estate developers are trying to deal with the infrastructure concern and some are already on track to become self-sufficient in terms of power and water, the problem continues to persist. Indeed, a host of residential projects by realty majors, such as, DLF, Unitech, Vipul and Parsvnath are likely to have rain harvesting plants, water treatment techniques and facility of 100% power back-up.

Since, an end users focus is good quality infrastructure and considering the fact that Gurgaon is not best at that, it's basically the investor who's having the cake at the moment. Moreover, as the number of upcoming residential and commercial projects in Gurgaon is increasing with every passing day, the biggest sufferer of the boom remains the increasing pressures on the civic amenities.

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