This article is meant for those who have little or no experience about Gurgaon, or who are less familiar with the Gurgaon Developments in the last few years. The idea of writing this was simple, Get people to understand the past few years of History of Gurgaon’ s Development Years at a glance. My apologies to anyone who may be getting offended by some of the harsh truths here in, however the intent to write this article is “Change for the Better”, thanks to this fantastic new medium, one can express such thoughts and help bring change sooner.
Let’s go into retro for a moment and see how the Gurgaon Real Estate has panned out in the last few years gone by, that should bring more clarity into the way forward…
Gurgaon as a destination came up pretty much within the last 15 years. (We will be talking about the New Gurgaon and not the Old City, as that is of little or no significance to the Corporates on this side of the NH-8). The first step that the initial developers of Gurgaon started with selling Plots at very reasonable prices. Then came the High Rise Culture, however, considering that there was no or little competition and the developers were at that point in time trying out the product, they restricted to the launches at price points and not so much on quality. As we went along, the apartment quality started to improve (at least on presentations and brochures, not so much of difference in the deliverables), Between 2005 to 2008, the apartment quality did change a little, but not substantially, mostly the developers were capitalizing on the Boom and the Land prices going through the roof and enjoyed the fruits of that, while the consumer was still deprived of the quality of development, that he could have got on paying prices, which were being charged at that point in time.
Then came along some of the international developers and started to change the market place. The products from here on, became better on deliverables, but still nowhere close to the quality of international homes, Although the Brochures and the Presentations and Communications moved faster than the actual deliverables.(Thanks to the Communication Boom and the Media Boom). So, we had fancy looking brochures and sample homes with again not much change in the deliverables, sometimes one wonders, if the developers actually restricted themselves to not providing the best to the audience just because they believed that the consumers won’t be able to know the difference or let’s just say, maybe because the wind was more favourable towards the developers. That is all the History of Gurgaon’ s development in a few lines for you.
The bigger question is What has Changed in the last Year or so?
Well, for starters, the market is more mature now, some of the earlier players are facing the brunt of not getting repeat customers because of the deliverables being not up to the mark in the property invested in. Well thanks to some of the latest entrants in the market like Ireo, who are truly making an endeavour to change the perception of people towards developers with a vision to be “The most respected developers of real estate” unlike most other developers with visions of “Becoming the Largest Real Estate Players” or becoming “The Richest Real Estate Developers”.
