After witnessing sluggish business last year, the real estate industry expects a lot to have great recovery in Gurgaon in the year 2014. The real estate players like Victory Infotech Pvt. Ltd. in Millennium City believe that they have expected to see significant growth with the arrival of new government. They hope to see their business to touch new highs.
The real estate market in Gurgaon has witnessed a slowdown last year and it is regaining the momentum this year, according to Paras Buildtech MD, Harindra Nagar. He is expecting to see the growth of around 8% in real estate market of Gurgaon after general elections. Later on, this growth will be based on the policies of new government. Since this new government is favorable in infrastructure development, real estate is likely to double its growth.
Gurgaon real estate was slumped down by 5% in the year 2013 and the whole industry is now expecting immense growth in New Year. Mikrotek Infrastructure MD Ajay Aggarwal stated that they are expecting medium growth and things will be based on the contours of new government. However, it will mostly rely on the stance of RBI on policy rates and inflationary pressure.
In addition to this, industry is expecting expansion and operation of Dwarka Expressway by the new government. Apart from affordable housing policy, this infrastructure project will lead to a huge impact on Gurgaon real estate sector. HUDA has already finished the project of laying the line of water supply for basic amenities. According to Aggarwal, it is a major step for the end users. The real estate sector is hoping for the favorable policies of the government. According to him, the government is expected to update its policies. The section of investors, developer community and people will closely have an eye on the implementation of this policy.
When it comes to real estate development, experts have opinioned that the government is highly supporting the PPP model (Public Private Partnership) in order to enhance the infrastructure growth in the city of Gurgaon. This city keeps being first choice for the investors and multi-national companies.
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