5 Features to check when buying a luxury apartment in Gurgaon

Demand for luxury homes in India is growing slowly. People are gradually moving from the independent housing concept and now look for luxury apartments, villas, and penthouses in group housing projects. As there is a gradual shift towards the luxury housing, some people are still unaware of the important factors they need to check when buying a home. They just look at the brand name and the exterior beauty while booking a home in Gurgaon, but in reality, there are a number of other factors one must check when buying a luxury home.

Here are five important features you should check when looking for Luxury villa in Gurgaon. Extra attention to these factors will help you get the best home of your dreams.

Technology

Every real estate developer tries to set a benchmark when launching a luxury residential project. One of the widely used techniques for this is to make the complex technologically advanced. From automation to high-tech security measures, smart lighting, energy efficiency and smart toilets, there are many features you can look for.

Location

A home next to slums cannot be called a luxury apartment. So, when looking for a lavish project to invest in realestate in Gurgaon, be careful about the location of the project. The home should be a situation in a posh colony with world-class facilities like shopping malls, hospitals, schools etc.

Trendsetter

It’s not just the design of the home, but everything from the kitchen to flooring, gym, clubhouse, pools and landscapes, everything in a luxury housing project should be a trendsetter. Ultimately, you are paying the extra price for unique features which affordable homes don’t have.

Entertainment zones

Modern home buyers look for abodes with private entertainment zones, where they can enjoy quality time with the complete family. Home theater and personal gaming zone are the advanced features you can ask for when buying a sumptuous penthouse, duplex or apartment.

Extensive personal space

Bedrooms in every home have a great value as we spend the best time of our day here. A master bedroom in the luxury home should have ample size to accommodate a king-size bed and other things. Some Gurgaon builder are offering dreamlike bedrooms which are not just extensive in size but also have high-tech features like automation system, walk-in closet, and ceiling to floor mirrors.

These are just a few features which can convert a simple apartment into a luxury abode. So when you wish to give your lifestyle uplift, buy a luxury home in Gurgaon.

How Residential Real Estate in Gurgaon Will Be Impacted by Lower Circle Rates?

The price of residential real estate in Gurgaon may fall as authorities have proposed to lower circle rates in this suburb of New Delhi. This proposal is an attempt to jumpstart Gurgaon's property market which has been in a slump over the past few years. Gurgaon authorities are considering lowering circle rates for the years 2017 to 2018. Another proposed reason for lowering circle rates, in addition to providing a boost to the cities real estate market, is that rates are too high today and should be lowered in order to reflect market fundamentals. Hence lower circle rates will rationalize property rates and also provide Gurgaon's real estate sector with much needed momentum.

History of Circle Rates

In the past circle rates were raised to keep pace with the higher prices charged by builders for property in the city. Hence as the price of property went up in Gurgaon, so did the circle rates in the city. Eventually prices soared to so high as to make it impossible for the common man to buy a house or flat in Gurgaon. Because of lower demand for housing units in much of Gurgaon, there was a pile up of inventory in the city and the real estate market in Gurgaon lost much of its momentum.

In the end buyers and developers suffered due to higher prices for housing units in Gurgaon. The reason why builders suffered is that they had to pay a higher capital gains tax and buyers suffered because they had to pay a higher stamp duty and a higher registration fee on the previously continuously hiked circle rates.

Gurgaon's Real Estate Market Today

Nearly every real estate expert agrees that the real estate market in Gurgaon today is muted. The number of property transactions in Gurgaon has fallen dramatically over the past few years. Additionally those who may be considering investing in Gurgaon or in buying a house for end use here are deterred from doing so by the poor quality of the cities infrastructure.

Experts also believe that Gurgaon authorities need to find a way to make Gurgaon's property more affordable. Authorities themselves realize the need to create more affordable homes in Gurgaon and one way of doing so is by lowering circle rates.

Last year the circle rate in Gurgaon was lowered by 15 percent yet even this large correction was not large enough to make property attractive to buyers in Gurgaon. Hence, after a 15 percent drop in the circle rate last year, the price of the land was still too high and the market was unwilling to buy even at this discounted rate. Gurgaon authorities believe that lowering the circle rate further will provide the right incentive to buy property in Gurgaon.

Why Authorities Want to Make Property Cheaper?

Today the number of ready to move in units in Gurgaon stands at five hundred thousand, however because of the shortfall in demand from buyers the government loses revenues that it expects to earn when a newly bought property is registered.

What are things that you need to consider before buy property in Gurgaon?

New Gurgaon refers to the Millennium City's new sectors like 82 to 115 - of course, if you take a drive on any Sunday through these sectors, you'd probably be shocked at the dissimilarities between this area and just how the rest of Gurgaon developed. This section of propertyin Gurgaon has a different story to tell.

The model contemporary lifestyle- The planning of New Gurgaon is such that it promotes a well-balanced life - with less driving a car, less stress, local self-sustenance and better health.

Vast roads- Carriageways are made to manage the traffic today volumes of tomorrow. Just about all of the sector roads in New Gurgaon are built with service roads and have an 84 m wide right-of-way (compared with 48 meters in Gurgaon).

Divided commercial areas residential projects in Gurgaon and commercial sectors are adjoining, yet separate. So, no office blocks in the middle of residential areas, and schools only on roads wide enough to handle the traffic.

Zero encroachments or slums the builders in Gurgaon Manesar Masterplan 2031 is being strictly adhered to, with neatly parceled land for pre-determined uses.

Rapid habitationpProjects are being completed quickly, and home buyers are relocating in numbers that are quite astonishing. New Gurgaon is transforming into a model urban area.

Simply no congestion Traffic flows efficiently and, since roads have been planned based on future requirement, it will eventually continue to do so.

Highway connections of NH-8, NH-8A, Pataudi Road, and the KMP (Kundli-Manesar-Palwal) Expressway give Fresh Gurgaon excellent connectivity and this will get even better by the proposed Central Peripheral {Street|Highway}, (the new link on connecting NH8 to Dwarka Expressway right at Vatika Express City).

Metro and ISBT A Metro link and a new ISBT are coming up nearby the intersection of NH-8 and Dwarka Expressway in New Gurgaon

No ugly power lines as all Electrical cables are all underground. This is more secure, better to maintain, and better in the long term. The power infrastructure is, in fact, ready for the next 6 many years.

The best of education and healthcare, such as MatriKiran, DPS, Modern School and Max Hospitals, are establishing facilities in New Gurgaon.

The best companies in the country, like Google, TCS and GENERAL ELECTRIC, have taken up large office spaces on NH-8. Commuting to these office buildings from New Gurgaon houses will entail negligible work.

New Gurgoan best of all the world’s currently and is ready to offer the best residential in NCR .

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