Vikas Rikhye

 Vikas Rikhye, Real Estate Gurgaon Blogger

Land Prices in Gurgaon In early 2005 the land prices which were quoted @ Rs 10000-15000 per.sq.yd had seen its peak of more than Rs.50000-55000 per.sq.yd by the year 2007-2008. Whereas now in the present scenario more then 35% fall in price seems to have been recorded. The experts feel that more then 25% correction on present prices is still expected in next 4-5 months

This “U -Turn Trend” is visible, in other “Gurgaon real estate” related fields/ activities, as well.

Gurgaon Shopping Malls:  With original booking price of Rs.6000-7000 per.sq.ft, during peak time, the figure had touched the price of over Rs20000-25000 per.sq.ft. As on day the investors of Shopping Malls in Gurgaon feel a fall of over 30% in some cases, with a further correction in coming months. Unfortunately in some of the Malls, the investors are willing to sell on the purchase price.

Office Space in Gurgaon: In the year 2004-2005,In a good “Glass–curtain building” , the rent quoted was in the range of Rs 40-45sq.ft finally reaching a figure of more than Rs 125 per sq.ft by the year 2008 With the recent Melt-down, fall of over45%, has been recorded.

Residential Apartments in Gurgaon : There is a massive correction is being felt in this segment as well. Taking the year 2004-2005, as a base when “Apartments in Gurgaon” were launched at a basic price of Rs 1500-1600 per sq.ft had reached the the height of over Rs 5000 per sq.ft by the year 2008, have suffered a correction of over 40% fall in basic price. And the” New Housing–Projects in Gurgaon” are being launched @ Rs.2800 per sq.ft

Builders and Developers in Gurgaon: The Global meltdown has very adversely effected this segment of real estate as some of the prominent builder are almost at the point of insolvency.

-Even, some of the Prominent builders have put their existing Projects on hold.

-Whereas ,some of the “Builders in Gurgaon” seem to have abandoned their projects.

-Some of the construction sites are giving deserted look. All as stated above has left the investor in the state of fear & confusion

Real estate Agents in Gurgaon -Real estate Brokers in Gurgaon In the year 2005,there had been sudden increase in number of Brokers in Gurgaon ,as every one could see a big boom in real estate with rewarding result.& during the peak time Professionals like Doctors & qualified Engineers had been seen ,adopting Real estate Agent as profession.

But with recent slowdown & recession, this segment of real estate is equally effected & a large number of “Brokers in Gurgaon” have left this profession , while many others are exploring alternate avenues of employment.

In present scenario of recession “U -Turn in Real estate Gurgaon” was inevitable

Disclaimer: The Author is a freelance Blogger and real-estate consultant, The readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad. The author is only delivering his views & inviting response in the way of comments/views from
the readers.