Gurgaon has been a well known spot for real estate for some time now. It has one of the most booming real estate markets in Delhi-NCR. The “Millennium City” offers a plethora of residential and commercial projects as per the buyer’s budget. For a strategic investment in Delhi-NCR region, Gurgaon realty is the top destination, with options ranging from luxurious villa or a spacious yet affordable apartment, here. But, you need to make a wise buying decision and here’s how.
Investment Tip 1: Areas that will reap good Returns on Investments (ROIs)
Although Gurgaon realty as a whole offers unique and lucrative investment opportunities for buyers and investors, yet there are a few areas in the “Millennium City” that will offer a higher ROI. These localities include Golf Course Extension Road, Dwarka Expressway, and Southern Peripheral Road that offer Smart Townships for housing both residential and commercial properties. The Southern Peripheral Road in particular has had a booming real estate market for the past few years with newer projects rapidly emerging.
Patatudi Road is yet another great hot spot in Gurgaon, with bright investment prospects. This area is linked with the Dwarka Expressway and thus commuting to and fro Delhi-NCR is not a challenge.
The Dwarka Expressway is another great option for affordable housing segment. It shares its proximity with the Indira Gandhi Internal Airport (IGI) and Gurgaon, and thus the transport system here is good, with public transport plying in every few minutes.
Gurgaon realty is an upcoming hub for multi-national companies and IT, and thus several reputed developers can be found here with their top-notch residential and commercial projects. Buyers and investors can buy good residential or commercial property that promises good ROI.
Investment Tip 2: The First Time Buyer
First time buyers should research well before purchasing a property in Gurgaon, else the chance of getting scammed is high. Here’s a story to ponder over.
A few investors had booked a 1,000 sq feet office space in a renowned commercial area, only to be disappointed in the coming times. They had paid an enrolment fee of Rs.2 Lakhs for the space in 2010, and were told that they would get a launch price of Rs. 40 Lakhs when the project would finish. However, the project didn’t take off for more than a year and the builder kept reassuring the investors, their investment had risen in great value.
But, investors had doubts and wanted to pull out after 2 years of long wait, but they had signed up a bond with the investor, which would prevent them from receiving the maturity amount of Rs. 40 Lakhs. Later they signed a declaration stating that they had taken back the money on the builder’s terms and conditions. In the end the investors were left high and dry, without a property and without the promised ROI.
These are some of the pitfalls new investors can face when investing in real estate in Gurgaon, or in any new location.
Investment Tip 3: Things to Remember when you are Buying Property
As per the above story the investors did not pay enough attention to the credibility of the builder before investing. This is a common mistake which leads to major disputes with the construction company later on.
So, homebuyers and investors must conduct a detailed research. They should inquire if the project is secure and what worth it will hold in the future. Hire a reliable and reputed realtor and then take his advice on where you should invest.
It is advised to invest with a reputed builder who has a good track record. Delay in the delivery of finished project causes the property value to fall, so pull out of the project if possible. You can then invest in a better realty option.
Never think that you will not find a good deal, do a bit of research and you will get the property of your choice. Remember, in the real estate sector you will always get lavish deals but you need to know which one to opt for. Make sure that the construction company is reputed and has delivered projects in the past with good returns. If you are opting for a new company be careful, they will do anything to attract your attention, so get everything in writing.
Investment Tip 4: Weigh Your Investment Goals
Gurgaon Realty bears the potential of affordable commercial and office space. Subsequently, major global players have set up their offices here and several others have begun to make their investments. Consequently, it has paved way for a robust residential property market, with a high absorption rate. What the buyers/investors need to consider is the location of their investment and tenure they want to remain invested. Some of the prominent areas include Sohna Road, Sector 106 and Golf Course Link Rd., and the longer you remain invested the better returns you will get.
Investment Tip 5: Make sure you are not getting fooled
You need to know how exactly you can save yourself from getting fooled. There are certain facts you should keep in mind when buying a new property.
Firstly, check to see if the property matches your need. You need to be certain that the property you are going to buy is exactly what you are looking for. Since you are giving a lot of money for it, so do not compromise on the amenities and facilities offered by the builder. Inquire about the hidden costs too. Get the same in writing for safeguarding your interest in the future.
Investment Tip 6: Funding Property
Figure out a perfect way to getting the property funded. Will you fund it yourself or will get a loan sanctioned? Think through the different funding options offered both by the Construction Company and the bank. Opt for a loan and payment plan that fits your pocket without denting it in the long run.
First decide on the spending capacity that you are willing to make. Upon narrowing down the property choices, you must discuss the best rate at which the builder is willing to sell the property. Remember, there is always room for negotiations, even when you think you have grabbed a good deal.
The payment plans offered by the Realtor has advantages and disadvantages, so weigh them well before putting your money on an option.
Investment Tip 7: Find a Good Realtor
Not all Real Estate agents are proficient at helping investors. To achieve success, find out the realtors who have the highest number of sales per month in your area. You may be looking for a return greater than 1% on your land, apartment or villa.
Investment Tip 8: Marketing
If you intend to sell your apartment/land post purchase, a robust marketing plan is essential to gain optimal profit. In addition to enlisting with the realtor, you can also place your advertisement in the local newspaper, magazines, and use media like the radio and television to inform and gain potential buyers.
Investment Tip 9: Timing is Important
Not all projects would be successful to give higher returns, therefore you should find out the perfect areas in Gurgaon for making an investment. Since, the Realty sector is volatile and it’s hard to gauge the profit & loss scenario, it is advised that you should stay invested for long-term, unless short-term is necessary for you.
Investment Tip 10: Limit Risks of Losses
The Realty sector is highly volatile and your asset is prone to losses or lower profit margin. So, does that mean you do not invest in property? Well, you must learn the trick of the trade. Gain knowledge on the current market trends at both national to global levels and finally dig into your preferred location in Gurgaon. In this way you will limit your risk factors.
These are a few tips that should get you going when you intend to invest in Guragon’s real estate. Remember, always chose a reputed builder to save heartache in the future.