The enduring mantra in the real estate business is ‘Location, Location, Location’. That’s how important the location of a property is as it determines it’s pricing, attractiveness to the customers as well as the ROI that a property is likely to give the buyer.
Every home buyer dreams of having a house in a prime location but they certainly don’t come cheap. But the advantage as stated above is that they definitely offer a higher selling price and a higher rental income. As a long term investment plan, it makes more sense to have an average house in a prime location than a luxurious one in a mediocre location. As a homeowner it is easier to upgrade a house than upgrade a location. So if a decent property is up for sale in a prime location, make sure you don’t let it go.
But what determines a prime location in terms of real estate? Here are some key factors that set a property high on the rung of the location ladder.
Proximity to Central Areas
The place where a buyer chooses to live determines how much they pay for the home purchase. Obviously if the house is set in a prime area that is near to CBDs, affluent residential areas, social and lifestyle amenities such as hospitals, entertainment centers, schools, and other daily needs, it commands a prime price.
Local Neighborhood
The actual neighborhood also plays an important role in making a location the desired one for home buyers. Quality housing, environmentally sound surroundings, good schools to name a few, will be factors that home buyers will consider when buying properties.
Infrastructure & Connectivity
Availability of good roads, uninterrupted water supply, 24 hours electricity connection and other civic amenities as well as easy connectivity to public transport, railways, bus routes etc.
In India, all those home buyers interested in purchasing a new property, Gurugram or Gurgaon offers a lot of options. It is one real estate market which has managed to duck the slump in the real estate sector and has generally been an attractive prospect for home buyers. Some of the best
Gurgaon real estate is in areas such as:
New Gurgaon – The most coveted address in Gurgaon, a lot of luxurious residential projects as well as commercial projects have come up making it one of the hottest real estate for buyers looking to buy property in Gurgaon.
Golf Course Extension Road – Another prime location in Gurgaon real estate with good schools, hospitals, commercial centers. Easy connectivity to Delhi has meant that it is considered a good location for investing in real estate in Gurgaon.
Sohna Road – Lot of new projects in Gurgaon are situated on this road. Mostly suitable for all budgets, these properties are close to NH 8 and other commercial & tech parks.
Dwarka Expressway – A good locality offering affordable housing and easy connectivity to business hubs in Gurgaon.
Mehrauli – Gurgaon Road – Properties in this area are on the expensive side and offers premium residential projects. A lot of top class infrastructure is coming up in this stretch and with a good link to Delhi via road and the Delhi metro, this location is a top choice for buyers looking to purchase property in Gurgaon.
In addition to these localities Sector 42, 54, 24, 25, 59, 17, 18, 25A, 29,30, 31, 32A, 33, 34, 35, 36, 37, 37A, 48, 76, and 77 are also much in demand locations in Gurgaon real estate scene.
India’s leading real estate brand, Mahindra Lifespaces offers Luminare, Golf Course Extension Road. A premium residential project,
Mahindra Luminare offers 3 & 4 BHK ready to move apartments in Gurgaon. Looking to buy a penthouse in Gurgaon? Luminare offers 4 BHK apartments with top class amenities in the prime location of Golf Course Extension Road.
References:
1. Orris - Best Areas to Invest in Real Estate Gurgaon
2. Nestaway - Best Areas To Buy Property In Gurgaon
3. Proptiger - Considering Gurgaon These Sectors Are Bankable
4. Image - Gaurani Almightywind
