Why Sec-59 Golf Course Ext. Road, Gurgaon has emerged as preferred Real Estate market for NRI’s?

23 July, 2021

Over the last decades, Delhi NCR and specifically millennium city Gurgaon has witnessed major infrastructural developments and with a boom of luxury housing enormous amounts of money is being invested in the real estate sector by HNI investors and end users alike. As the COVID-19 pandemic restrictions have lightened and cities have opened up for economic activities, people have started investing again and are looking for bargain buys. According to the report by Knight Frank, housing sales have been doubled in the last 6 months when compared with the sales of the previous year in Delhi NCR.

Located in the Northern Indian State of Haryana, Gurgaon has rapidly emerged as one of the preferred destinations for every industry. With attractive and large business development canters, prime residential projects, strong connectivity links, and being home to many IT giants, not only Gurgaon has attracted people from the different parts of the country, it has attracted Non-Resident Indians (NRIs) from all over the world to invest in India’s Millennium City.

The launch of new residential projects that provides steady investment appreciation with minimal risk, proximity to key office hubs within Gurugram, and well-managed amenities, and seamless connectivity many micro markets in Gurgaon like DLF Phase 1, Sushant Lok Phase 1, Sector 59 Golf Course Extension Road, Sohna Road, Sector 17 to Sector 22 corridor have become cynosure of NRI investors. Real estate developers are doing everything to attract overseas buyers from setting up offshore offices and organizing events to help find buyers of right profile and much more. When we talk about the micro market of Sector 59, Golf Course Extension road, Elevate Hines and Mahindra Luminare are 2 Luxury projects that are attracting the NRIs, investors, HNI’s and corporate professionals from several industries like the IT, BFSI and healthcare

Let’s have a look at some of the factors that have helped Sector 59 Golf Course Extension Road emerge as a promising real estate market for NRIs.

• Being at Ease with the Highway Life

Strategically located near the national capital and has excellent connectivity via rail, road, and air, Sector 59 area on Golf Course Extension Road has been backed up by the four main highways. The locality is well connected to the Western Peripheral Expressway (Kundli-Manesar-Palwal). Gurgaon is well-connected to another busiest 2,800 Km highway (NH 8), as it connects the national capital Delhi to financial capital Mumbai as well as other important cities Jaipur, Gurgaon, Ajmer, Udaipur, Gujrat, and other cities. After the opening on Hero Honda Chowk flyover and Southern Peripheral Road, the cosmopolitan boasts another highway that connects it to Dwarka and Delhi through NH 48 Expressway as it has improved the connectivity in the fast-paced life.

Generally, international investors or NRIs like to invest in locations that are nearby and close to the country’s capital. Also, tracking the property value of Capital and its nearby region is easy. This is why millennials or big hotshots are preferring Gurgaon as a destination that provides them easy connectivity to anywhere. NRIs are no different, and this is why residential projects on Sector 59, Golf Course Extension Area such as Elevate Hines make it a perfect spot for foreign investors.

• Presence of Luxury Residential Projects

NRI’s generally prefer to invest in luxury residential real estate in comparison to affordable and mid income housing projects. NRI’s looking to invest in the properties in India should check out the real estate project on Sector 59 area, Golf Course Extension Road, Gurgaon as there is a good supply of such projects in this micro market. Elevate Hines, Mahindra Luminare, Ireo Grand Arch are some of the marquee projects located there.

Trusted developers with the strong financial backing and proven track record are providing high-rise apartments, gated townships, and luxury towers with well-managed amenities at affordable prices. These properties have the potential to dominate the ultra-luxurious segment which are NRIs, UHNIs, ex-pats, business leaders, among others. Various financial institutions are also providing cheap financing options to the trusted and reputed developers with a strong financial portfolio and proven track record and that’s where Sector 59, Golf Course Extension Road dominates as well because majority of land parcels are owned by large Real Estate Players with strong balance sheet and proven execution track record. With the advancement in construction technologies such as Mivan Formwork which has gained popularity for its ability to aid mass construction activity, the builders in this micro marketare completing projects on time and making them available for possession for homebuyers as scheduled. Therefore, residential properties such as Hines Elevate, Gurgaon, and Mahindra Luminare on Sector 59, Golf Course Extension Road, Gurgaon make a perfect investment pic for NRIs

• Flexi-Payment Schemes

With the availability of flexible payment plans, real estate developers are providing investors and homeowners with a variety of payment plans, such as 10:90, 20:80, down-payment plans, construction-linked plans, time-linked plans, and much more. Due to the ongoing pandemic, current home loan interest rates are at an all-time lowest in the four decades at a rate of 6.65% annual interest. These rates are expected to remain low for another six to twelve months. Therefore, NRI’s looking up luxury properties in Gurgaon can have a look at the properties on Sector 59, Golf Course Road Extension.

As there is a need for liquidity in the market, RBI has announced some relaxed concessions such as numerous government and developer concessions such as stamp duty exemptions. This has provided the home buyer best buying opportunities in the real estate sector. Also, when compared to other investment options like FD and Gold, investing in real estate will yield many more benefits and returns as the prices of these luxurious properties are going to rise after the pandemic subsides and the economy is back on track.

Presence of Commercial and Social Infrastructure.

Home to Fortune 500 companies, big corporates in IT Sector, Pharma Sector, telecommunications sector, manufacturing industries and presence of vibrant commercial sector presents ample opportunities for the micro-markets in Golf Course Extension Road (Southern Peripheral Road) and around Gurgaon. The presence of SEZ for IT and ITeS is required for a place to be attractive to IT professionals to provide a stable economic environment for the development of export-import of commodities in a timely and efficient way.

Also, Sector 59 on Golf Course Road neighbors many proposed high-end developments like five-star hotels such as Grand Hyatt. Top-notch schools, hospitals, metro stations, and retail hubs that certainly ensure good rental yields are at a close distance too. Many young NRIs who wish to settle in India and continue with their respective professions are investing in commercial and residential spaces.

Good Visibility of Rentals

Another factor that attracts the NRI in the realty industry is the good and decent returns on the investment. Luxury residences in Gurgaon attract high and decent rental earnings and experience steady growth in the value of properties. Many developers across the Gurgaon assure reduction in challenges related to rental properties. There is an influx of property management companies that are very active on 3 major roads like Golf Course Road, Golf Course Extension Road and Sohna Road tha will answer and respond to all tenant inquiries, ensure that no damage occurs to the property, as well as keep the leased property without leaving it free for a long time which is again a great advantage that pulls NRI’s into these areas when it comes to investing in real estate.

Second Homes – The Best Homes

The growth of the second homes segment is a testimony to the shifting mindset of NRIs. Nowadays, buyers aren’t only looking for luxury properties but property that provides long-term benefits. Individuals buying second homes hold the preference that property is within a few hours’ drive from their parent cities. Also, NRIs who have a long-term plan of coming back to settle down in India prefer to stay in the NCR as their relatives stay here and ancestral connections make them choose the city. They need their homes to be luxurious and backed by top-class amenities. Therefore, demand for luxury property lovers going to rise over the next year.

These are some of the reasons why NRIs could invest in Sector 59, Golf Course Extension Road, Gurgaon which could prove beneficial for them.

Amid the pandemic, Delhi-NCR witnessed the launch of numerous luxurious units (107% increase) in the first half of 2021. This could be the best time for investment in real estate for IT professionals, NRIs, and people who are looking for luxurious properties near Delhi NCR. As the interest rates are at an all-time low, and numerous payment plans they could even target the houses they always dreamt of.

With the strong connectivity and facilities available in Gurgaon, it is a lucrative emerging real estate market for NRIs. The connectivity to the nearest capital city and business destinations has attracted NRIs to invest here. Gurgaon is the third-highest per capita income city among all the Indian cities. With the increase in development in civic infrastructure, Sector 59, Golf Course Extension Road Gurgaon has emerged as the favourite option for NRI investors.