Gurgaon’s appeal attracts a large number of developers to Delhi NCR.

The land pool in the cities of Delhi NCR, particularly Gurgaon, is a sterling opportunity. Gurgaon has seen phenomenal urban growth, wherein the city’s population increased from just seven lakhs in 2004 to over 35 lakhs today. The floating population is an indication of the upcoming demand for residential and commercial spaces with innumerable job and business opportunities. JLL claims that institutional landholders and developers in partnership have closed 56 JDAs in the past 18 months for the development of 1546 acres, and this has been the way forward to expand into newer cities and micro-markets that offer good returns.

The cities in Delhi NCR have turned out to be profit hubs for the company, where a total of 20 JDAs have been tied up, amounting to nearly 233 acres. These deals can turn around 36.5 million square feet. Gurgaon comes next, where arrangements for 151 acres have been firmed up, especially in those sectors off  Southern Peripheral Road(SPR), which are deemed very promising locations.

This report by JLL highlights the strong expansion and collaborative work operations carried out in the Indian real estate. The perennial focus on JDAs authenticates the fact of entering new cities and micro-markets consistently, benefiting both parties. Innumerable growth has been facilitated through these tie-ups in areas that were previously not touched by anyone, thus creating new opportunities and economic growth. The deal success of 56 JDAs in various cities speaks well for the confidence and consonance in the sector that is the foundation for future joint ventures.

For the company, Delhi NCR particularly, Gurgaon, has been a highly cash accrual region, with 20 JDAs to its credit covering around 233 acres of land. A proposed 36.5 million square feet development in the Delhi NCR speaks volumes of the ample interest and market potential awaiting in the area. The huge share, the newspaper estimates as 151 acres, that Gurgaon has within these agreements testifies to its intentions of becoming a hub on the real estate endeavor. The rates at which the JDAs have been signed in the past and are continuing translate to the real estate development in sustainable, conducive for further investments, and better urban development, and this is towards the state`s benefit, analysts say.

According to Signature Global, one of the most credible real estate developers, the major theme and strategy going to be workable is expansion into new cities and micro-markets. This will further diversify the real estate sector and will also usher in balanced regional development. The city that will gain a great deal thanks to this is Gurgaon, with its tremendous real estate potential and superlative infrastructure. In fact, connectivity of the city through roads, highways, metro rail, and other means to Delhi, the national capital, and the international airport has made it the most sought-after place for real estate investments.

Ultimately, rapid growth and planned development of this area make it also worth investment in the real estate market of Delhi NCR. This partnership of the builders with the landowners is evidentially portrayed by a number of Joint Development Agreements and such archetypal examples show a promising prospect to the area. Continuing to sprout with substantial investment inflow and urbanization, Gurgaon is now reckoned one of the most strategic hubs of the real estate development sector in Delhi NCR.