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Gurgaon records the fastest growth in real estate

Comments(3) Sub Category:Gurgaon,Realty News Posted On: Aug 16, 2012

Gurgaon has registered the fastest growth in the real estate sector in the country.

Developers are flocking to the region to launch new projects after prices shot up by as much as 25 per cent in the last one year. Big realty players like Godrej Developer, Tata Realty from Mumbai and Sobha Developers from Bangalore have launched their projects in Gurgaon.

Gurgaon emerged as a hub for IT and IT-enabled services in northern India. Owing to its proximity to the national capital Delhi, several Fortune 500 firms opened their offices here, too, employing hundreds of high-income professionals. The residential market started to flourish as these people tend to buy houses in Gurgaon itself.

To meet the demand supply gap of residential realty, the Gurgaon-Manesar Master Plan-2025 has been finalized. With the master plan being finalized, the availability of land for development and the avenues for new growth corridors have opened up. The new master plan allocates 14,930 hectares of land for residential use and paves the way for the city to grow.

To read more real estate news:

Real estate in Mumbai witnesses slowdown

3 Responses to “Gurgaon records the fastest growth in real estate”

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