What You Need To Know About Purchasing A Property In Gurgaon


Buying a property involves big sum and sometimes even our lifetime savings. It has a potential impact not just on our mental well-being but also our financial well-being. A market as big and complex as Gurugram, always needs a bit of careful approach and expert guidance. We have jotted down some tips for you to keep in mind while buying a property here

Decide On a budget

The very first thing you need to do when you plan to buy a home in Gurgaon is to decide on a budget based on your income. Gurgaon micro-market has a wide range of commercial and residential properties to offer. These properties can cater to the needs of high net worth individuals as much as people looking for properties in the mid and affordable segment.

Hence, if you are trying to find that perfect property for yourself in a big micro-market like Gurgaon without deciding a budget, there’s a possibility you will find yourself lost among so many options around.

So, to save your time, avoid any confusion, and make your property buying journey hassle-free, fix a budget for yourself. Also, try to divide your budget into fix and variable components. The variable component will help you meet extra charges later if any.

Consider social amenities

There is no denying the fact that there is barely any other city that has seen the pace of development as Gurgaon. In fact, well-developed social amenities are one of the key reasons investors and buyers are driven towards the Gurgaon micro-market.

The emergence of renowned educational institutions, multi-specialty health care facilities, entertainment hubs, high-end and varied retail, global brands have always garnered the attention of investors and buyers alike. But there are areas that score really high when it comes to good social amenities.

A bit of careful research can help you shortlist such areas. Golf Course Road, Golf Course Extension Road, Dwarka Expressway, etc. are some of the areas replete with well-developed social amenities.

Decide Area, Type, and Inventory

As mentioned above, the Gurgaon market is huge with endless possibilities and a lot to offer. This variety is not just confined to the price range but also extends to the type, area, and inventory. Your property hunt without any plan or no inventory/area/type in mind may end up in despair or may turn out to be a distasteful experience.

Hence, before buying a property in Gurgaon decide how many rooms you want in your house, what type of property (Apartment, Villa, Plots, Builder Floors, etc) you want to invest in, what would be the most suitable size for you. These filters will help you shortlist the best properties in a very short time.

Check Recent Stats Related to Crime Rate

Native people of Gurgaon have two very different stories to tell you about this city- Pre-development and post-development. The crime rate in Gurgaon prior to the development was significantly higher than most of the areas in NCR but ever since Gurgaon became a leading financial and industrial hub of the country, the crime rate dropped by a margin of 80%.

However, sporadic incidences of burglary, vandalism, assault are still reported in few areas. Hence, it is always wise to look for stats related to the crime rate before picking a location to invest in. Also, a buyer or investor must check the level of security system incorporated in the housing complex he/she is going to live in.

Check connectivity quotient

Ever since Gurgaon got separated from Faridabad, it has witnessed massive development. Several projects were undertaken to upgrade the physical infrastructure of the city. Hence, Gurgaon is well connected to all the major nodes in Delhi and NCR through an excellent road network.

Also, rapid metro provides a major boost to the connectivity quotient. Easy availability of public transport is also one of the reasons why Gurgaon scores high on connectivity quotient. But then again, there are areas that always score better than others when it comes to connectivity and proximity to South Delhi.

Any property located in these areas stores a massive price appreciation potential.

Licenses and Clearances

It is always advised to check if the property you are going to put your money in has all the licenses and clearances in place. Check if the property is located in an environmentally sensitive zone or on disputed land.

Also, check if a particular piece of land has some religious or historic importance that may lead to problems in the future or if that area violates zoning regulations. A bit of careful approach can save you not just a lot of time and money but will also ensure that you don’t get into any legal turmoil.

Legal cases pertaining to property and land last for several years and seldom are in favor of lone buyers.

Check Developer’s Track Record

Before selecting a property from a particular developer, study its track record thoroughly. Check the promised possession dates and delivery time of the last few developments by that developer.

Gurgaon property market is led by some of the reputed names in the real estate industry across PAN India. While DLF needs no introduction, M3M has emerged as the number 1 real estate developer in North India in just a decade. It has emerged as the leading name in the industry when it comes to quality and timely delivery, introducing innovations, and setting a benchmark for others.

Look If There’s Hidden Cost

Always ensure you are making the deal at the all-inclusive price of the property. Figure out if the slabs offered are charged an all-inclusive price. Check what all components are covered when the developer states a particular amount as all-inclusive. This will save you from paying hidden charges in the stages ahead.

Get in Touch With a Good Real Estate Consulting Company

Exploring a micro-market as big as Gurgaon, analyzing all the properties in your budget range, and selecting the one that best fits your needs can be cumbersome and turn out to be a nightmare. It is always advised to buy a property under the guidance of a good Real Estate Consulting company.

When it comes to Gurgaon, one name that has remained the customer’s first choice and Number 1 in the industry for nearly a decade is Elite Landbase. Elite Landbase is known for its exceptional services and the unprecedented transparency they bring to the real estate sector.

They cater to the clients’ needs from the ground up till the possession. They also provide after sales services. Elite Landbase has a highly efficient and professional CRM team to cater to your needs and address your queries 24×7.

Analyze Future Growth Potential of the Region

One characteristic that distinguishes a smart investor from others is that he/she always makes an investment keeping in mind the future potential of the area. You can determine the future growth potential of an area basis the number of infrastructural developments planned in that area.

Currently, Golf Course Extn. Road is seeing several development projects and M3M has some of its iconic commercial and residential properties located here. Hence, these properties always pose a promising future. You can also avail best deals on these properties under M3M’s much-hyped and unique scheme- ‘M3M Oxygen Gurugram.’

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