By Bharat Kumar
The real estate sector has been the fastest-growing and most preferred investment option in the country due to its developing offers, promising returns and long-term assurance of security. Though both residential and commercial projects are equally in demand across hotspots in the country, NCR has been the primary choice of buyers. Gurugram, being the most developed section of the National Capital Region, has been driving major consumers in recent years, especially in commercial real estate projects.
Sector 114 is one of Gurugram’s highly sought-after areas for commercial real estate investments. It is an ideal location for businesses looking to set up stores in the National Capital Region (NCR) due to its strategic location, excellent connectivity, and world-class infrastructure. One of the primary reasons why Sector 114 is such a popular location for commercial real estate investments is its connectivity. It is well-connected to other parts of Gurugram and the NCR region, with the Dwarka Expressway and National Highway-48 providing easy access to the Indira Gandhi International Airport and the Delhi-Jaipur Highway, respectively. The upcoming Delhi-Mumbai Industrial Corridor (DMIC) is set to further enhance connectivity, making it easier for businesses to access key markets across India.
Sector 114 is a thriving commercial real estate market due to the increasing demand for office spaces from businesses looking to set up operations in Gurugram. The area is home to several leading IT/ITeS companies, financial institutions, and multinational corporations, which has led to a high demand for quality commercial real estate. The demand for commercial real estate in the area is expected to continue to rise in the coming years, as Gurugram consolidates its position as a leading business hub in North India.
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The commercial real estate market in Gurugram has been on a steady rise in recent years, thanks to the increasing demand for office spaces and the growing focus on sustainable infrastructure. In 2021, Gurugram witnessed a 37% increase in office space absorption, with several leading companies setting up their operations in the city. The trend has been on its course ever since then. This growth is expected to continue in the coming years as well with sound projects developed with the most advanced pieces of equipment and hosting world-class facilities.
The focus on sustainable infrastructure is a key trend that is shaping the real estate market in Sector 114 and other parts of Gurugram. Developers are investing in green building technologies and practices to reduce the carbon footprint of their buildings. This includes the use of renewable energy sources, rainwater harvesting, waste management systems, and green spaces, among others. The adoption of sustainable practices not only reduces the environmental impact of buildings but also helps reduce operational costs and enhance the overall value of the property.
Sector 114 in Gurugram is an attractive destination for commercial real estate investments due to its strategic location, excellent connectivity, and world-class infrastructure. The increasing demand for office spaces, the growing focus on sustainable infrastructure, and the positive market trends are all contributing to the growth of the commercial real estate market in the area. With Gurugram emerging as a leading business hub in North India, Sector 114 is expected to witness significant growth in the coming years, making it an attractive investment destination for businesses and investors alike.
(The author is Director, Spaze Group. Views are personal.)