Gurgaon has seen a steep increase in the property prices during the last 6 years. The property value has gone upto 10-50 times during this time. The natives of the Gurgaon area are happy with this change. They have earned lacs and crores by selling their farm lands to various developers and builders at a very hight rate.
Most the villages located in gurgaon have sold their agricultural land to various real estate companies. These real estate companies are not newbies. These are the top most companies of the country: DLF, BPTP, Piyush, Raheja, Parsvanath, Triveni, Uniteh, MGF, Emaar, IRIO are a few to be named here. each of the companies have purchased thousands of acres of lands in various villages of Gurgoan district.
These real estate companies know very well that there will be very less (or almost nil) land available for construction in the upcoming years and hence paying hight prices for the land available now. Even after the massive volume of deals taking place in this area (Gurgaon), these companies always keep trying to explore further. The large area of the Gurgaon district has been taken by the HUDA (Haryana Urban Development Authority) for constructing new Residential sectors. The remaining land is being aimed by various companies. Ghata, Gwalpahari, Ullabas, bandhwari, bairampur and Valiawas are the villages kept to top priority for land purchase by these companies. After the entry of IRIO into the land purchase race, the competition has become even tougher for old companies like DLF and MGF. For instance DLF and MGF have been purchasing large tracts of lands in Bandhwari village since last 6 years. It started purchasing land at the rate of Rs. 10 lac per acre in starting. Later the DLF company increased the rates to 20, 40 60 lacs per acre during the course of time. It now owns around 400 acres in the village bandhwari and is offering upto 1 crore per acre to the landowners. But the IRIO company has offered 1.5 crore per acre to the villagers, which is certainly a large difference and no one would like to sell hisc land to DLF anymore. Similar is the case with MGF company in Bairampur village.
However, the competition between these giant real estate companies has made it easy to the landowner to choose the best option among all these, or to demand much above the market price. The natives of this area who had even a small chunk of land in past and were not able to feed their families with agricultural activities are enjoying a luxury life with crores of rupees in bank and SUVs to drive.
