Investing
in real estate is one of the hottest ways to generate income today, especially
in India where market regulations and trends are always in the news. This is
especially true when it comes to the latest developments in particular cities
where new projects are consistently going up, as well as how the economy and
government impact purchasing trends. As a potential buyer, you're probably
wondering how to begin your search and make a sound investment. Here are a few
tips for how to invest in property in the burgeoning city of Gurgaon.
1. Understanding
the Perks of the Area
The
Millennium City has been one of the premier locations for real estate
investments for quite some time, especially with its proximity to New Delhi and
the evolving transit projects around the city. Developers such as Unitech
offer the opportunity to buy
3 bhk flat in Gurgaon, and if you're looking to purchase real estate
as an investment, rather than a personal home, this is one of your best
prospects. The fact of the matter is that if you're an investment buyer, you'll
need to consider exactly what Gurgaon has to offer as selling points. For
example, according to Common Floor, one of Gurgaon's major strengths is its
transit system. The city boasts 11 metro stations, five of which are operated
by Delhi Metro, and it has some of the best potential for continuous
improvements to the public transportation system. It's one of the most
effectively interconnected urban and suburban regions in India.
2. Find a Reliable
Agent
While
it's essential to do your own research in order to make informed decisions, you
can't forego the advice an expert. However, there are many real estate scams in
India today, including in Gurgaon, particularly because of how active the
market is currently. Therefore, you need to make sure that you're dealing with
a reliable agent or broker. For starters, Street Smart Finance recommends that
one of the best ways to guarantee you're getting authentic advice from a
qualified real estate professional is to use personal contacts. There's no
better way to make sure you're not about to get duped than using references
from friends and family members who have had positive experiences with
particular real estate agents. You should also make sure that the agent knows
the city fairly well, since they're trying to direct you to the best investment
possible. Make sure that the information you're being fed is legitimate. If the
agent states a particular statistic or claim, make sure you verify it. This is
easy to do with the Internet and a simple Google search.
3. How to Predict
Investment Returns
If
you're trying to value an investment property, Real Estate Times recommends
estimating how much rental income you can expect to receive over the period of
the investment. In other words, you need to consider the proportion of value
versus future returns. While the real estate market fluctuates frequently,
there are definitely some locales that are better than others in which to
invest. For example, Gurgaon real estate began to fall out of favor in the past
year due to delays with highway construction projects. However, since it's
picked back up, the prospects remain brighter than ever. Investing in real
estate near amenities like reliable highways, excellent public transit options,
and ample entertainment is essential to make sure you get a good return.
Gurgaon is a safe bet since it has all of these things and more.
4. Why Luxury Real
Estate is Better
Today,
many renters aren't necessarily just looking for a home. Luxury is becoming a
sought after quality of living in India, and there are only certain types of
properties that fit the bill. Forbes India reports that real estate experts
define luxury in Indian real estate as offering amenities that make the
proverbial neighbors jealous, such as club houses and swimming. Developers in
Gurgaon such as Unitech now offer properties in these types of communities, and
it's what many renters are searching for. The essential thing to understand
about luxury is that it's more of a state of mind than anything else. While
having access to perks such as state-of-the-art schools and club houses within
the types of communities offered by real estate developers these days, a huge
component of luxury is also exclusivity. Homes that meet true standards of
luxury are what many homeowners and renters alike are searching for.
The
real estate investment game is one of the most fluctuating markets when it
comes to India. While one year there's a boom, the next it seems that
predictions are grim, before picking back up again. One of the best approaches
is to use common sense, and only invest in the finest properties on the market.
You don't want to get stuck with a lackluster property you can't rent out or a
rental income that doesn't match your expectations. However, as far as cities
go, Gurgaon has some of the greatest potential out there as a metro area as it
continues to grow.