Luxury housing is blooming heavily in Gurugram: Neeraj K Mishra, Ganga Realty
In an exclusive interview with Sanjeev Sinha, Mr Neeraj K Mishra, Executive Director, Ganga Realty, talks about the growth prospects of luxury housing in Gurugram and shares his business outlook. Excerpts:
As per a recent Knight Frank and NAREDCO joint report, India’s real estate sector is likely to expand to $5.8 trillion by 2047, contributing 15.5% to the GDP from the existing share of 7.3%. What’s your view?
The Indian real estate sector has seen a pivotal upshift in demand and sales across the residential and commercial property markets after the countervailing effects of the global pandemic on the Indian economy and its gradual decline. However, the good news is the restoration of normality which has brought a consistent rise in the real estate traction and we have not encountered a shortfall situation in case of either existing inventories, user demand, or new supply additions of new residential and commercial properties. On the other hand, real estate investments have become a reliable source of income, rental generation and dissemination of comprehensive knowledge outlining the benefits of investing in them which have emboldened buyers to make favourable decisions for long-term profit inflows. We hope the real estate sector will contribute a larger portion of the share of the country’s GDP and contribute further to the consolidation of the Indian economy.
Please name some of the swiftly-growing realty corridors in Gurugram and what are the reasons for their extensive growth?
Gurugram, a popular realty belt hosting rapidly-growing corridors such as Dwarka Expressway, Southern Peripheral Road (SPR), Golf Course Extension Road, and Sohna Road, has been witnessing bulks of investments in recent times. These
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