The economic growth of Gurgaon, also known as ‘Guru Gram’, marked the perfect launch in the early 1970’s when it hosted the manufacturing plant of Maruti Suzuki India Pvt Ltd, pioneer automobile manufacturers in India. Since then Gurgaon has risen like a phoenix and has become one of the leading financial and industrial city of NCR with home for more 250 ‘Fortune 500’ companies.
Though being the costliest satellite cities of NCR, Gurgaon still is the much sought after realty centre in NCR. Many Multinational Companies like Coca Cola, IBM, Pepsi, American Express, Microsoft , Agilent Technologies has opened their corporate offices in the Millennium City. This has paved for a high influx of migrant population in Gurgaon, resulting in the hike of rental market. The offshore investors are eyeing for the catch with the robust rental yields of Gurgaon and as far as the working professionals are concerned it’s all about to identify the economical rental spaces to relocate in Gurgaon.
The 150 meter wide, 18 km long Dwarka Expressway can be an ideal rental space in Gurgaon. It is also known as Northern Peripheral Road which eases the commutation between Gurgaon and Dwarka, Delhi. The much notable area also holds economical rental apartments in its vicinity. The 2 BHK and 3 BHK apartments can be leased in the premises of Dwarka Expressway at the rate of Rs 10,000 per month. Though the weak public transportation in the area is the reason for the low rents, the place is ideal for employees having personal vehicles and cab facilities.
Another economic rental option for the working personals is the planned city New Gurgaon. The area has two main clusters along the Dwarka Expressway, with one ranging from Sector 102 to 113 and the other from Sector 76 to 95. The 1,000 sq ft properties of the area are accessible at an affordable price range of Rs 6000 to Rs 10,000 per month. The area is also ideal to lease rental homes considering its good connectivity to NH8, Kundli-Manesar-Palwal Expressway and Dwarka Expressway.
Renting the property in an established locality is the dream of everyone. But most often this paves for more rental value. But in case of Sushant Lok, the scenario is different. The 1 BHK properties in the area can be expected to cost Rs 10,000 per month, but surprisingly these 300 sq ft apartments can be embraced at a feasible amount of Rs 7000 to Rs 8000 per month. Even then, the prices can be expected to hike in future owing to its good connectivity with Huda City Centre and its proximity to NH8. The presence of many recreational spots, hospitals and hotels has made the investors to stock up properties to rent in Sushant Lok.
Owing to its ideal connectivity to Golf Course Road, Golf Course Extension Road, IFFCO Chowk and MG Road, Sector 56 and Sector 57 of the Millennium city has also created a formidable rental market. The 1 BHK apartments in the sectors can be rented at a price range of Rs 18 and Rs 32 per sq ft per month.
Working professionals who migrate to the metro cities like Gurgaon in search of jobs and to build their career are undoubtedly the primary beneficiaries of the rental market. Majority of them represents the youth falling between age of 25 years to 35 years who further pay emphasis in saving a fair amount of their earning, in order to fulfill their liabilities and dreams. For them identifying the right economical rental spaces in the metro cities are necessary so as to hold on to their dreams.