Real Estate sector is showing some recovery in first quarter of 2009

After an acute slowdown in the third and fourth quarter of 2008, the real estate sector is now showing improvement in the first quarter of 2009 ending March 31. A report prepared by Prop Equity Research suggested that in majority of cities there has been a surge in absorption. A recent study by Prop Equity across Bangalore, Mumbai ,Hyderabad, Chennai, and Gurgaon in NCR says that absorption was high in the residential new launches in the first quarter of 2009 in Gurgaon,Chennai and Mumbai. Bangalore and Hyderabad witnessed fewer new launches during this period, experienced a low absorption.

Due to rise in the interest rates in the January-March 2008, by almost 2 percentage points, to 12%, the real estate sector has experienced one of the worst kinds of slowdown. At the same time, residential apartments in most of the cities became unaffordable for most buyers due to the prevailing prices of these residential apartments. Global financial markets got affected due to the failure of banks and brokering houses in the US and Europe which further worsened the situation. This also affected the real estate market of India very badly.According to the report , October-December 2008 saw the absorption of only 1,113 units in Mumbai, the first quarter of 2009 saw the absorption of about14,478 residential apartment units. As against this, 3,096 units were launched, in October-December 2008, 3,096 units were launched, the report said. This means, 40% of the launched apartments got sold in the first quarter of 2009, which is said to be a good turnover. In the same way, in Gurgaon, during January-March 2009, 8 05 units were sold out while 4,480 units were launched. As against this, only 587 units were sold out of 3,708 units launched during October-December 2008. Therefore, the absorbed and launched figure showed sign of recovery in first quarter of year 2009.

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Why to Buy Property in Gurgaon?

The initiative taken by the Haryana government for inviting investments in Gurgaon has brought active growth in knowledge based industries like IT sector. This has created demand not only for the commercial sector but also for the residential properties in Gurgaon as well.
Developers like DLF, Vipul, Omaxe, Vatika, JMD, Unitech etc. are using the concept of workspace, clean evironment, urban living etc.
Various malls in Gurgaon gives the privilege to commercial and residential sectors to satisfy there needs.There are large number format retail stores in Gurgaon which are changing radically according to size and category. Gurgaon has become the commercial hub of India as commercial centers like Pace City, Udyog Vihar, IMT Manesar and InfoCity in Gurgaon as well as office space in commercial building have catapulted Gurgaon.
The metro rail connection, proposed expressway to Jaipur and the Special Economic Zone being developed by Reliance Industries are adding value to Gurgaon builders and owners. The residential segment includes Bungalows, Houses, Villas, Flats, Farmhouses, Penthouses and many more. All the residential units have power backup club house facilities, multiutility hall, swimming pool, health care and children play ground.
Other areas are also developing fast like shopping street on Sohna Road, National Highway 8, Dlf Phase I, Dlf Phase II, Dlf Phase VI and many more.

Real Estate in Gurgaon

Gurgaon is emerging as hottest destination for real estate. Real estate in Gurgaon has earned more prominence.Properties in Gurgaon are available by reputed builders like dlf, vipul, emaar mgf, parsvnath, unitech, vatika etc.There has been a sudden increase in the demand of gurgaon commercial as well as residential properties.

The initiative taken by the Haryana goverment in inviting investments to gurgaon has brought active growth in knowledge based industries like IT industry. Due to this the demand for office space and residential properties in Gurgaon has increased. There are many ongoing projects such as nirvana country by unitech, the palm springs, the palm drive, and the palm square by Emaar mgf, dlf park place in dlf city by Dlf.
Dlf group has started a new residential project dlf new town heights at sector 90 Gurgaon, new residential flats by Bestech India pvt. Ltd. in sector 67 Gurgaon, Tivoli group is building a new project tivoli holiday village dharuhera. Some major residential and commercial projects are coming up in bhiwadi, dharuhera and manesar which are located about 20 kilometers away from Gurgaon.
There has been a great demand for office space and residential properties in Gurgaon. Gurgaon has become a commercial hub of india due to demand of office spaces in corporate buildings as well as in commercial centers.