Recently, the ILD Group launched its three new residential projects in Gurgaon.These projects offer lavish accommodations in promising localities in the city. Even though the builder is known well in the city, there are investors who are sceptical about these new project launches. The Indian realty sector has not quite emerged from the throes of the recession. It was anticipated that 2014 would be the year of revival. But the sales remained sluggish after initial improvement. Even though the issues plaguing the Indian economy were addressed (stable central government was formed midyear), the property sector did not see the jump in sales figures as was expected. The situation apparently did not change much after the government relaxed the much needed FDI norms. There have been a large number of new project launches across the country since 2014. But Gurgaon has been late to the party.
Sometime back, Tata Housing launched one of the most ambitious luxury projects in Gurgaon. Now ILD Group has followed the suit with three new projects(ILD Grand, ILD Grand Centra and ILD Arete). Is it not too early to invest in such properties?
Right time to consider investment options
The answer to the aforementioned question is –No. It is not too early to invest in such properties. Here is why.
There have been no new project launches in the city for sometime because Gurgaon has had a high inventory pileup. The builders are still waiting for the properties under development since the past four or five years to be purchased. Since the market conditions have definitely improved, the focus has been on clearing those properties before offering new ones. To ensure that these properties are purchased, there has been no price hike assigned. The prices would remain low for the coming four or five months. By that time the overall market condition would have improved considerably and one would see the prices rise. At this point the costs are economical.
Why are ILD Projects a Feasible Investment option?
Let us consider the offerings of the ILD project to understand what is in store. ILD Grand and ILD Grand Centra are under development in Sector 37 Gurgaon. The former is offering possession in May this year and the latter later on. ILD Grand Centra Gurgaonis offering homes with areas ranging from 1200 square feet to 3400 square feet. The house offerings here are available in 2, 3 and 4 BHK variants. There are also duplexes available. Sector 37 is a suburban locality and the property prices here start at a little over Rs. 67 lacs. They notch Rs.1.8 crores. If we compare these prices to a similar offering in Mulund- then these offerings are economical. Sector 37 and Sector 33 both lie close to major nodal points in the Delhi Mumbai Industrial corridor Development belt. There is nothing but a rise in the demand for properties in both these localities in the times to come. Already there are established schools, markets, hospitals etc. available. Road and metro connectivity with Gurgaon and Delhi is quite good as well. Therefore it is expected that the property values would rise exponentially in these localities in times to come.
A deeper study of the project details also displays the price trends in both projects. This trend study can once and for all eliminate all doubts from the mind of an investor.