HUDA's Infra Focus To Drive Realty In New Gurgaon Sectors, Target Sales
The Haryana Urban Development Authority (HUDA) is planning to acquire 300 acres in six new sectors of Gurgaon -- sectors 75 to 80 -- to build infrastructure. The piece of news comes as a relief to both home buyers and developers, as lack of roads was causing much discomfort to residents of these upcoming areas, and making it difficult for developers to sell their projects. The Haryana government seems to be leaving no stone unturned to revive the real estate in Gurgaon . Last month, the state reduced circle rates across segments by 15 per cent, making properties cheaper in a city where real estate had become rather expensive. However, overpriced properties were not the only reason why Gurgaon real estate had been going through a rough phase for a couple of years. While developers kept launching new projects along Gurgaon’s new sectors, expecting high returns on investment, most of th...