Gurugram Realty Market Emerging as Expatriates’ Hub
Gurugram has emerged as a vibrant real estate hub in India. Strategically located near the national capital and having excellent connectivity via rail, road and air, Gurugram has emerged as a melting pot of various cultures. The cosmopolitan city boasts three highways: Kundli-Manesar-Palwal (KMP) Expressway and Dwarka Expressway and Delhi-Gurgaon (NH-48) Expressway as harbingers of connectivity that has improved further with the opening of Hero Honda Chowk flyover and Southern Peripheral Road. The proposed Gurugram- Faridabad metro rail link, ISBT, Rapid Rail Transit System (RRTS) Corridor and Delhi-Mumbai Industrial Corridor (DMIC) will boost the industrial, manufacturing and real estate prospects of the region.
Gurugram is a commercial hub and is home to several manufacturing industries, BPO biggies, leading IT & Fortune 500 companies. Rapid urbanization and the presence of job opportunities have acted as a catalyst for the expat population who have chosen to make the city home away from home. Gurugram is also the hub for the automotive industry. As a result, Gurugram has slowly emerged as one of the most sought-after destinations for expats.
Shashank Vashishtha, Executive Director, eXp India said, “Gurugram is attracting the maximum numbers of expats across the country to work and live here. Key factors like better connectivity, secured complexes, proximity to workplaces and markets along with a plethora of high-end housing options make this area an upscale location. The area is nestled in the backdrop of magnificent Aravalli Hills and the lush greenery, societal parks, walking tracks and gardens give more vibrancy to the city making it a preferred destination among expats.”
Gurugram has customized dwellings with state-of-art amenities. Gated communities with 24/7 security, clubhouse facilities, swimming pool, gym, tennis, basketball courts, childrens play area, gyms, and grocery stores, to name a few, are some of the key USPs of these societies that attract people from neighbouring states as well as from South Asian countries like China, Japan, South Korean, and Afghanistan. The number of Japanese nationals registered in Gurugram, according to the official records is 8,000, out of which 2,000 immigrated in 2014 and 2015.
Amarjeet Bakshi, CMD, Central Park, said, “Popular destinations of Gurugram such as Golf Course Extension Road and Sohna Road are now on the radar of expatriates and corporate professionals, who are willing to go an extra mile for luxury residential spaces offering global sensibility. They are evaluating the residential offerings on the basis of multiple parameters of proximity to workplace, connectivity, secured gated complex offering lifestyle experience with the comfort and warmth of their community and culinary experiences.”
Gurugram also has a robust social infrastructure such as the presence of reputed global schools, hospitals, banks and financial institutions. With a growing number of shopping complexes, malls, retail outlets, convenience stores and cafes, the residential hotspots in southern and western areas of Gurugram such as Sohna Road, Southern Peripheral Road, Golf Course Road, Mehrauli-Gurgaon Road, and Golf Course Extension Road have emerged as a preferred residential address for expats.
Karan Kumar, Chief Marketing Officer, DLF Ltd, said, “Today Gurugram has some of the most expensive commercial and residential real estate to offer, thrived in the past two decades, attracting millennials to Ultra High Net Worth Individuals. With a strong infrastructure and social fabric, and best of the best schools, hospitals, financial institutions and retail spaces, families living in different parts of Delhi NCR are now considering Gurugram as preferred choice to invest in real estate. As a result, today, Gurugram has some of the finest residential offerings in the country with state-of-the-art facilities, amenities and experiences that well-traveled individuals are looking for.”
He further added, “Celebrated for the vision of imagining Gurgaon as a bold and future-focused city, DLF holds many firsts to its credit. From building ‘DLF Golf and Country Club‘, recognised today as one of the best golf courses in Asia Pacific to creating India’s first model of mixed-use neighbourhood in form of DLF5, that brings together residences, state-of-the-art offices, world-class dining, shopping, and recreational avenues. Golf has always been considered a preferred choice of sport and lifestyle not just among Indian (especially HNIs and UHNIs), but also among Asian expats from countries like South Korea, Japan, China, Singapore, etc.”
A report in 2019 suggested natives from China also got fascinated by the idea of the emerging NCR region, Gurugram, and their numbers are only a little lesser than the Japanese. The same report found that South Koreans had outnumbered the Japanese concerning settlement in Gurugram in the year 2019. Afghans were attracted to Gurugram due to robust medical facilities that provide relatively affordable treatment as compared to other cities.
Some of the renowned luxurious projects catering to expats are Central Park Resorts and The Room in Sohna. Both of them are at par with international standards and offer an opulent living for the expats. Amarjeet Bakshi, CMD, Central Park said, “We at Central Park are strongly committed to provide a world-class lifestyle experience within secured gated condominiums, unparalleled hospitality, and the warmth of home away from home for our expat resident community. Central Park Resorts designed on global standards has bestowed faith from more than 300 expats across 20 nationalities.”
He further added, “Our latest offering is the Bellavista Suites- masterfully designed, fully furnished, fully serviced one bed and studio residences. These thoughtfully planned & crafted luxury residences are imbued with bespoke luxury, grand interiors, and expansive views, complemented by 7-star hospitality services. Privileged curated lifestyle, exclusive rich global culinary experiences, dedicated professional butlers serving round the clock in exclusive designer lounges, multilevel clubhouse with world-class amenities complement the offerings such that the residents can indulge themselves in an opulent lifestyle.”
Talking about the ultra modern, high-end offerings for expats, Karan Kumar, Chief Marketing Officer, DLF Ltd added, “Today, DLF5 is recognised as the most creative, connected and forward-thinking neighbourhood in the whole of Delhi NCR. It is considered a preferred choice for both national and international investors looking to add to their real estate portfolio. As a long-standing tastemaker in luxury and super luxury space, DLF has carved a niche in the industry, by offering properties with exceptional views at exclusive addresses, and club services, at par with some of the best 5-star hotels. Known as Gurugram’s architectural jewel and set amid 200 acres of landscaped greens with over 25,000 trees, and overlooking 1000 acres of Aravalli forest, the Golf Link residences offer a luxury of another kind. Today, Gurgaon, and in that, DLF5 is home to a large expat community staying at various luxury and super luxury condominiums by DLF.”
The amalgamation of financial, industrial, and technological prospects of Gurugram along with community living is going to attract a lot more foreigners to consider settling down here in the future. These foreign expats have also contributed to employment generation and the local economy by setting up their ventures.