Property In NCR

Living in Delhi brings along a lot of comfort and problems. Life in Delhi is so different from other cities that initially anyone takes some time to get accustomed to it. But, as it is often said, once a person stays in Delhi for some time, it is difficult for him to leave the city. The city was once a quiet, loving city. But today the hustle-bustle has increased. The number of people coming to Delhi everyday in search of work or other purposes is on an increase. Because of this the population of Delhi has grown and living space has decreased. This increase in population has turned out to be a catalyst for the growth of neighboring cities. A very good example of this is Gurgaon. Once, a small village it is today a well-laid out city. Thanks to the close proximity of Delhi, the city is a happening hub for the top IT and BPO companies. The sealing drive The sealing drive started by the Municipal Corporation of Delhi (MCD) of commercial establishments in residential colonies of Delhi has further helped Gurgaon to gain importance. It has led to spurt in the real estate of Gurgaon. The rental property of Gurgaon has taken a huge jump and has become very high. It is not that a rise in real estate prices has happened only to Gurgaon, it is actually happening to the entire rental property of India because of growing economy. But because Gurgaon is close to the capital region, it is affected the most. In the last six months, ever since the sealing drive has begun, the rentals for legal commercial space has increased anywhere between 40 to 75 per cent and the realtors believe that there will be further hardening of rentals in the months to come. Malls in Delhi, which had received a poor response about a year back, are now doing brisk business with increased demand for retail space. Gurgaon has seen about 60 to 70 percent hike in the rentals in its areas, where rentals were just Rs 70 to Rs 90 per square feet a few months ago. To relocate a business from Delhi to Gurgaon is not an easy decision to make. But forced by the sealing and the opportunities available traders are now making a move. According to a recent study, the booming real estate market and a considerable increase in consumer spending levels have seen Gurgaon emerge as the biggest gainer in terms of retail rentals.

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