Wednesday, March 19, 2014
The Reality of Real estate world of gurgaon city...
The Reality of Real estate world of gurgaon city...
Being an art and design lover and as a passionate interior designer, I always loved everything about gurgaon. I always used to feel proud in being the part of gurgaon as I and my ancestors have been here since a very long time and we have seen the old gurgaon and the new gurgaon and also the changing story of gurgaon city. It’s really divine to see so much changes and development at such a large and grand scale. The most surprising thing is that the main development which gurgaon has seen is in real estate sector and this development is appreciated as well as criticised by people of gurgaon city.
The real estate sector has been manipulated and nourished at the same time by the property dealers on large scale. Gurgaon has seen a tsunami of property dealers and that is the only reason which made the properties over priced in some places and undervalued in some places. Every next door person today calls himself/herself a property dealer in gurgaon and tries to gain some good easy money.
Earlier the buyers were less and the sellers were more as there was no such building schemes or offers by government and private sector. Moreover , people did not had any intention of getting more land as having one home was enough for them. The old gurgaon has seen middle class on rent and the upper class with spacious bungalows and the most common size the upper class preferred was of 500 sq. Yards.
Although most of the middle class has invested in plots lower than 500 sq. yards but again everyone was satisfied with one big house and the rest who cannot afford used to rely on rent as the rental accommodations were very cheap. At that scenario most of the property dealers were happy with commission and the dealings used to be fare and trust worthy.
As the politics and the government were changing, so the private sector was changing. There was lot of changes being brought together in gurgaon and many people wanted to create a name in gurgaon and they did as they knew their aim and their focus. They wanted to dominate gurgaon in the real estate sector and this vision provoked them to purchase as much property as possible. When politics and business meet, it creates wonders; people call it corruption but in other term its development. Large and large scale of properties were given to the business men who wanted to change the future of gurgaon but this was not a gift , it was an exchange deal which benefitted the elite class and the politicians . The properties went higher as new and innovative projects stepped inside. Starting from flats to malls to corporate parks to independent floors, gurgaon knew what it really wants. Well the old gurgaon was still experiencing and enjoying its old complexes and houses but the new gurgaon opened the doors for every outsider. The people who cannot imagine having their own house can actually afford a 2 bhk to 3 bhk flat which created a boom in residential sector. The residential flats were constructed on a space jet speed and it was hard to hold a single flat as everyone was interested to be a part of gurgaon. The builders were able to give flats at cheap rates because of the land they got at undervalued rates as it was not an easy task to get flat at such low prices but it was actually happening.
The plots nearby the builder flats also got some price increased as some were adjacent and some were behind the residential buildings. The most benefitted group was the property dealers who gained commission as well as high margins in the plot dealings as most of the people were unaware about the actual rates and the high rise buildings and breathtaking views created an illusion of being in a very super, super, super first class place. The greed of property dealers had been increased to such an extent that a new way of doing business was created by property dealers. The seller used to be misled and conned by some group of property dealers and his/her property was purchased in very cheap rates and again sold to another person in over priced rates. This new business strategy was widely distributed and it created a monopoly of property dealers which destroyed the dreams of having own bungalow of many people.
The local people who wanted to become a future builder but had no contacts with politicians or VIPS were forced to purchase land at the market rates or at the rates artificially created by dealers and hence their independent floors were expensive as the cost of production and land was according to the current scenario. The people usually compare the independent floors with flats as they are unaware about the bigger picture and hence a local person who dreams to be a builder without contacts has to struggle very hard to make a name.
Well the real estate world of gurgaon has been developed more and more every day with new and different ways of building methods. Old traditions of building were gone and new and innovate styles took place. The architects and designers gained respect and value and work at uncountable scale. There are still many sectors which are untouched and needs attention and development and surprisingly the same old cycle of development is in process on large scale.
Well every property dealer is not corrupt but the most interesting fact is that everyone wants to become rich and the one who holds most of the property is rich in gurgaon.