Boom of Commercial office space and Commercial property in Gurgaon

By: Ravi Raj


The term commercial property (also called investment or income property) refers to buildings or lands intended to generate a profit, either from capital gain or rental income. Commercial property includes office buildings, industrial property, medical centers, hotels, malls, retail stores, shopping centers, farm land, multifamily housing buildings, warehouses, and garages. In many states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes. Commercial real estate is commonly divided into five categories: - Leisure, Retail, Office, Industrial and Health care. Property that is used solely for business purposes are called commercial property. Gurgaon, the heart of the most important BPO's and software companies northern part of India so the property rates are high. Gurgaon has proven itself to be a residential city but as a promising or bright situation it is a great corporate option as well.

The proposed plan of metro arriving in Golf Course extension road has hyped up the price here and people are willing to invest in projects located on this road of Golf Course extension will see a correction of 300 to 500 per sq. ft. Then there shall be sharp rise Road properties in Golf Course.

In its bid to bridge the gap between real estate prices and existing sector rates, the Gurgaon district administration has jacked up the circle rates for the second time on Sunday. The revised rate will result in a 5-20% increase in circle rates of properties in Gurgaon from last week.

Prevalent information all over the place estimates the rates to be quoted any where between Rs.3600/- to Rs.4200/- per square feet. However, it is expected that the rates are going to lean more towards the higher side than the former. The potential areas for the project are several, but more hopes are being pinned to the location at South City II plot of Unitech, bordering Nirvana Country.

The revised rates, according to property experts, might not have much of an impact on the real estate prices but it will make property registration a costly affair. The lowest increase in the circle rate will be in the case of properties falling in areas like Farukh Nagar, Pataudi and Manesar that are outside the already declared residential, commercial and industrial zones. The circle rate will witness a 20% increase in case of colonies falling under urban Gurgaon, the new city and private colonies.

Rates & Trends is a resource that provides Residential and Commercial property price trends for localities in 16 cities across India. These price trends can be viewed in the form of tables or graphs from the locality's Sale and Rent perspective.

The Haryana Government has inked a landmark deal with Reliance India Ltd for setting up a Special Economic Zone (SEZ) straddling 25,000 acres in Gurgaon.

Large properties are available here that can be put to use for multiple purposes such as:- Retail Outlets, Store houses, Office Space, Hotels and Restaurants etc. These are some prominent commercial sites:- Global Business Park 22, BPTP Park Centra, Unitech Cyber Park, Bestech Chambers, Ansal Sewa Time Square, Millenium Plaza, Centrum Plaza, The Masterpiece, Vipul Tech. Square, DLF Center Court, Universal Trade Tower etc.
Deputy commissioner R K Kataria said only few patches of land falling under areas where new sectors will come up will see an over 20% hike in the rate declared by the district administration. This has been done after studying and observing the recent trend of property registration in Gurgaon. This will also help us reduce the gap between government fixed circle rate and the actual market rate. This will also reduce the role of black money in this business, the DC added.

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