Delhi-NCR is quickly emerging as India’s real estate hotspot, spurred by rapidly expanding start-ups and multinational corporations. Because of the positive trend, leasing activity is picking up in the region’s commercial real estate market. Besides, the retail sector in Delhi NCR experienced a strong recovery in Q2 2022, according to a report by Cushman & Wakefield. The recovery was sparked by new leases and store openings, as well as footfalls returning to pre-COVID levels at upscale malls.
Additionally, multinational corporations are eyeing India to establish Data Centre Offices, especially in Delhi-NCR. Data Centres are expected to occupy approximately 10 million square feet in the next three years, providing a significant boost to real estate investors, according to a JLL report released in 2021.
The growth trend is more noticeable in Gurugram, where the commercial real estate market is seeing increased investment from prestigious investors, and industry giants. Commercial property investment in Gurugram has always been one of the most effective ways to diversify a portfolio and boost returns.
A Promising Real Estate Hub
Gurugram is one of the best cities in India to reside and work in. The city is popular with both international and Indian investors. The city offers a wide array of commercial properties, from small convenience stores and iconic office towers to industrial parks.
Initially, Gurugram served as a call-center hub, but now known as a millennium city, it hosts countless global corporations. Furthermore, numerous options for business investment are available in Gurugram, making it the dream destination for investors.
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A Well-Connected City
Gurugram’s proximity to the Indira Gandhi International Airport has contributed to the city’s steadily rising commercial real estate market. The city also benefits from its proximity to railways, airports, and highways. Additionally, its well-connected network, which includes the Delhi Metro and Rapid Metro, makes it an attractive commercial destination.
A Thriving Commercial Destination
Gurugram has several modern and jaw-dropping structures built by prominent real estate developers. In addition to international architecture and modern and elegant amenities, these commercial properties offer technologically-advanced features and security measures. Also, these properties provide expansive storefronts and plenty of open space for all retail units.
Investing in urban and semi-urban properties is a significant source of profit among new-age realtors in Gurgaon. Additionally, the growing popularity of shopping malls and retail spaces has prompted investors to invest in Gurugram’s retail spaces and commercial spaces, more particularly shopping malls.
Retail centers are becoming community gathering places and recreation centres, with Millennials and Generation Y preferring to spend evenings and weekends shopping at luxury stores or dining at fine dining restaurants, drawing investors to Gurugram’s commercial sector.
Gurugram has it all: grand high rises, a start-up hub, malls, eateries, a fabulous nightlife with many posh clubs, all geared toward the Millennial generation.
Commercial real estate is growing in Gurugram due to favourable market sentiment and promising appreciation prospects in emerging micro markets in and around the city. Additionally, the growing Millennial population in Gurugram is driving the demand for high-end retail spaces centred on holistic shopping and entertainment experiences.
Considering the above-mentioned factors, it seems logical to assume that now is the perfect time for investors to invest in Gurugram’s commercial real estate. Due to its well-connectedness to other parts of the city and the presence of big brands, corporate headquarters, and other amenities, Gurugram is set to become a goldmine for new-age investors.
(By Kaustubh Chandra, Manager-Marketing and Leasing, Brahma Group)
Disclaimer: This is the personal view of the author. Readers are advised to consult their financial planner before making any investment.