Though developed through a complete set of haphazard, the Millennium City Gurgaon has now risen to a level equivalent to that of international cities. Capital and rental values of residential properties in Gurgaon rose by more than 35% over the last one year. According to the internal price trends reports published by Investors Clinic, the average property prices in Gurgaon have seen several peaks and valleys. The average price for the month of June ‘15 has been reckoned at Rs 7,111 per sq. ft.Through the year, the localities that came out as the most popular ones in Gurgaon were those adjacent to the Southern Peripheral Road (SPR) and Dwarka Expressway. Because of their affordable nature as compared to the soaring rates of Sector 70, 78 and Golf Course Extension, these locations are gaining much attention of the middle income homebuyers. They also stand as great investment destinations because of the continuous infrastructure development and enhanced connectivity to Delhi and Manesar.
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Although people were averse about investing in Dwarka Expressway because of the delay in its development, now they see a ray of hope after the last legislative hitch was resolved. Residential Projects in Gurgaon saw a considerable price increase from Sept ‘14 to Dec ‘14. However, rates came down in Jan and Feb but picked up pace again in March ‘15. Now it is quite stable for 3 months at Rs 5,008 per sq. ft. . Dwarka Expressway still stands as an affordable option in Gurgaon with prices much cheaper than the average property rates at a macro level. [Read more…]