One phase of boom in Gurgaon property has tapered off. The next one is on the anvil.
The work on the extension of the Indian capital’s huge intercity travel rail project, popularly called Metro Rail project is now transcending the city-state frontiers to the much relief and delight of the teeming suburban commuters who at the moment must put in hours of daily grind travelling between their place of work in Delhi and their homes.
Says Mr AC Gumbar, a Gurgaon based lawyer who has to go to Delhi High Court five days a week by his car or public transport,” either way it is not less than one and a half hours.” He cannot hide his smile at the prospect of having the swankiest, world’s best technology fast transport vehicle picking him up right from his residential pocket in Gurgaon and reaching him to the Court in less than an hour.
Turning to the other property scenario, it is already quite indicative that which ever residential or commercial area Metro is passing through the property prices have tripled.
“Property buying in Gurgaon has slowed down for various reasons; as work on metro project here picks up, the prices will rise again , and for sure,” avers a property dealer in Gurgaon.
The Metro project has been slated to be completed in this stretch of suburb by year 2010. Going by the past trend, if you buy a plot in Gurgaon and park your funds as a long-term investment, thrice as much money by the year 2010 is projected as gain for you on a conservative estimate.
The closer you live to a metro station higher the price your property will command, as it would mean less travel time, effort and money spent for commute.
The metro times are proving to be boom times for property owners. The state-of-the-art transit vehicle will be unique in the way in being readily acceptable to the upper-middle class section of the society who abhor the idea of travelling long distances by their private mode of transport.
About Author
By Suraj Kumar Singh is an associated editor to the website Indianground.com. IndianGround is dedicated to explain all your related queries for buying residential properties with the latest news updates on commercial properties in India and pioneer in gurgaon properties. Your feedback will be highly appreciated at "kumarsingh.suraj@gmail.com"