Understanding the “FOMO” in Gurgaon Real Estate Market

The feeling has been accentuated by daily bombardment of news items like

DLF sells 1137 flats for over Rs. 8,000 crore within three days in Gurugramhttps://shorturl.at/clzIR

At Rs.13k crore, M3M India logs highest ever sales in FY23“. https://shorturl.at/bkOZ5

This feeling of FOMO among consumers has been triggered by the spurt in prices in Gurgaon real estate market in the last few months propelled by robust buying.

One of the key factors for driving this demand for real estate has been the “๐—š๐—ฟ๐—ฒ๐—ฎ๐˜ ๐— ๐—ถ๐—ด๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป” from Delhi.

A decade back there was a great inhibition of moving from the National Capital to Gurgaon but a lot has changed since then and we are witnessing significant movement of people from Delhi to Gurugram [as it is now called]

W๐—ต๐—ฎ๐˜‘s ๐—ฑ๐—ฟ๐—ถ๐˜ƒ๐—ถ๐—ป๐—ด ๐˜๐—ต๐—ถ๐˜€ ๐—ป๐—ฒ๐˜„ ๐˜๐—ฟ๐—ฒ๐—ป๐—ฑ ๐—ผ๐—ณ ๐—บ๐—ผ๐˜ƒ๐—ถ๐—ป๐—ด ๐—ณ๐—ฟ๐—ผ๐—บ ๐——๐—ฒ๐—น๐—ต๐—ถ ๐˜๐—ผ ๐—š๐˜‚๐—ฟ๐—ด๐—ฎ๐—ผ๐—ป ?

๐Ÿ‘‰๐Ÿผ๐—ก๐—ฒ๐˜„ ๐—ฐ๐—ผ๐—ฟ๐—ฝ๐—ผ๐—ฟ๐—ฎ๐˜๐—ฒ ๐—ผ๐—ณ๐—ณ๐—ถ๐—ฐ๐—ฒ ๐—ฐ๐—ผ๐—บ๐—ถ๐—ป๐—ด ๐˜‚๐—ฝ ๐—ถ๐—ป ๐—š๐˜‚๐—ฟ๐—ด๐—ฎ๐—ผ๐—ป – Global MNCs like Meta [Facebook], Amazon, Hyundai to name a few have opened up offices in Gurgaon resulting in more people wanting to move closer to these offices.

๐Ÿ‘‰๐Ÿผ๐—ง๐—ต๐—ฒ ๐—ฎ๐—น๐—น๐˜‚๐—ฟ๐—ฒ ๐—ผ๐—ณ ๐—น๐—ถ๐˜ƒ๐—ถ๐—ป๐—ด ๐—ถ๐—ป ๐—ด๐—ฎ๐˜๐—ฒ๐—ฑ ๐—ฐ๐—ผ๐—บ๐—บ๐˜‚๐—ป๐—ถ๐˜๐—ถ๐—ฒ๐˜€ – Gurgaon offers plenty of options of living in “gated communities” across all categories from affordable to ultra luxury segments unlike Delhi which is more aligned towards bungalows, standalone building and housing colonies.

๐Ÿ‘‰๐Ÿผ๐—™๐—ฎ๐—บ๐—ถ๐—น๐˜† ๐˜€๐—ฒ๐˜๐˜๐—น๐—ฒ๐—บ๐—ฒ๐—ป๐˜๐˜€ – An unfortunate consequence of COVID has been an increase in family settlement of properties. For people having a property in Delhi which needs to be distributed among family members, Gurgaon provides an option of disposing the Delhi asset and buying an equally good or better property in Gurgaon and still be left with some surplus.

๐—ฆ๐—ผ ๐˜„๐—ต๐—ฎ๐˜ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ผ๐—ป๐—ฒ ๐—ฑ๐—ผ ๐—ถ๐—ป ๐˜๐—ต๐—ถ๐˜€ ๐˜€๐—ฐ๐—ฒ๐—ป๐—ฎ๐—ฟ๐—ถ๐—ผ ๐—ผ๐—ณ ๐—™๐—ข๐— ๐—ขโ“

ย โœณ๏ธ ๐ˆ๐Ÿ ๐ฒ๐จ๐ฎ ๐ก๐š๐ฏ๐ž ๐š๐ฅ๐ซ๐ž๐š๐๐ฒ ๐›๐จ๐ฎ๐ ๐ก๐ญ ๐ฌ๐จ๐ฆ๐ž๐ญ๐ก๐ข๐ง๐  ๐ฅ๐š๐ฌ๐ญ ๐ฒ๐ž๐š๐ซ, pat your self on the back for timing the market well !! You never know if the markets let you get that feeling again!

 โœณ๏ธ ๐—œ๐—ณ ๐˜†๐—ผ๐˜‚ ๐—ฎ๐—ฟ๐—ฒ ๐—ถ๐—ป ๐˜๐—ต๐—ฒ ๐—ฝ๐—ฟ๐—ผ๐—ฐ๐—ฒ๐˜€๐˜€ ๐—ผ๐—ณ ๐—ฏ๐˜‚๐˜†๐—ถ๐—ป๐—ด ๐˜€๐—ผ๐—บ๐—ฒ๐˜๐—ต๐—ถ๐—ป๐—ด, don’t let the FOMO get better of you. At the end of the day, you may be investing your life savings into the home purchase. Don’t fret about missing the rally. The last thing you want is paying a premium & buying something you don’t like.

As rightly quoted
“”๐—™๐—ข๐— ๐—ข ๐—บ๐—ฎ๐˜† ๐—ฏ๐—ฒ ๐—ฎ๐—ป ๐—ผ๐˜ƒ๐—ฒ๐—ฟ๐˜„๐—ต๐—ฒ๐—น๐—บ๐—ถ๐—ป๐—ด ๐—ฒ๐—บ๐—ผ๐˜๐—ถ๐—ผ๐—ป ๐—ฏ๐˜‚๐˜ ๐—ฐ๐—ฎ๐—ป๐—ป๐—ผ๐˜ ๐—ฏ๐—ฒ ๐—ฎ ๐—ถ๐—ป๐˜ƒ๐—ฒ๐˜€๐˜๐—บ๐—ฒ๐—ป๐˜ ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐˜†””

Follow us for more updates- https://www.linkedin.com/company/simplease-india/

Add a Comment

Your email address will not be published. Required fields are marked *