Well-known as the Singapore of India, the city of Gurgaon is also considered to be the first private city in India. The city was the ‘first’ in India to have a privately financed metro rail facility and a private fire station. It is still the fastest growing city in the country wherein the office space absorption with almost every company willing to rent commercial property had crossed the 30 million mark in the year 2011 itself. As per a recently released report by the Economic Times. The city of Gurgaon is the most sought-after market for office spaces.
A city that was an ordinary town 25 years ago now has become a city that’s home to nearly half of the Fortune 500 companies. This blog explores the reasons why:
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For long, the city had no local government at all
It was the year 1979 when Gurgaon parted its way with the city of Faridabad. Just contrary to Gurgaon, Faridabad was privileged to have national and regional rail connectivity, basic infrastructure. And national and international industrial units managed and monitored by an urban local authority. The provision of no urban government proved to be a great asset for the city. Generally, when any real estate body or any other private company wants to acquire the land for certain purposes. They need to deal with a large number of bureaucratic layers.
But the case was totally different in the city of Gurgaon because the chief minister of the state was having the veto power on land conversion. All this resulted in the lowered overall cost of all types of transactions while making the land acquisition easier and hassle-free. The private bodies willing to be operated within the city felt the ease of making roads, highways, and a large number of other structures.
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The city offers unmatched ease of construction
The city of Gurgaon is one of the rare cities in the country. Where private entities find it easy to construct different types of buildings and structures. When compared to other cities in the country. In Gurgaon the builders and developers don’t need to roam and wander in the bureaucratic corridors for a variety of necessary permissions. Whatever the provisions in the system, they get a nod almost in no time. This has enabled various reputed real estate developers to create world-class spaces for office space rent.
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Gurgaon was built from scratch
Any city when built from scratch has so many privileges and advantages. For example, enforcing business-friendly policies and norms is easier in such cities. One of the most amazing facts associated with the land in Gurgaon is that most of the land available is idle and infertile. As a result, there was no opposition from the landowners at all in the conversion process from agriculture to non-agriculture. This also contributed to making the land cheaper for different parties including corporates and real estate developers.
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Planned by the private parties
For any city to function well, ample and apt planning is quite imperative for proper functioning. Here, the example of the city of Jamshedpur in Jharkhand can be cited to support the said view. The city is 100% planned by the private parties. In the same way, the real estate giant DLF owns the largest parts of the city of Gurgaon but still they don’t have something that Tata has in Jamshedpur. So, DLF cannot provide sewage or water supply.
Be that as it may, private actions can prove to be fruitful in this regard. For instance, in Gurgaon, the number of privately deployed guards is more than the government deployed security personnel. This has resulted in a lesser crime rate in the city when compared to Faridabad and even Delhi – the national capital of India. Taking things to the next level, DLF in association with the Haryana Urban Development Authority (HUDA) is making a joint effort to create a 16-lane signal-free expressway.
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Gurgaon is adjacent to Delhi
The city of Gurgaon enjoys the privilege of being close to Delhi – the national capital of India. Over the past 2 decades, Delhi has been facing a never-before space crunch with property prices always skyrocketing. When Gurgaon started prospering, it grabbed the attention of firms and offices operating in different parts of the national capital region (NCR). Relocating to the suburbs of Gurgaon is still a hot trend and a large number of companies today are willing to office space Rent
This scenario explains why the city of Gurgaon has proved to be a paradise for different firms and offices. Being close to the Indira Gandhi International (IGI) airport, Gurgaon location-wise enjoys a special privilege. Another neighboring city called Faridabad has a well-connected railway facility providing industrial units, especially those in the manufacturing sector with an additional edge.
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Overall business-friendly and encouraging environment
Today, Gurgaon has become a prime location for both national and international businesses. Just because it provides them with the right kind of aura associated with their business address. Almost all the businesses are trying to join the big league by establishing their office in the city. This is the reason the demand for the well-furnished rent commercial property is growing by leaps and bounds. Over the past few years, the Haryana State Government has also come up with newer plans and schemes for the required pampering of the city. And, it is quite logical also because the city has become the highest revenue generator for the government.
Concluding Remarks
AIHP is one of the leading providers of world-class workplaces in Gurgaon. The company has earned a formidable reputation by creating, implementing, and managing unique concept-based spaces for businesses and firms of different types.
AIHP is the first entity within the domain to offer corporate office space as a product rather than a group of outsourced services. Be it the challenge of expanding the existing business, relocating, or just starting a new office. AIHP does it all for its valued customers. Those willing to office space rent in Gurgaon or need any well-furnished rent commercial property can get in touch with AIHP right away.
