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Real Estate Boom in Gurgaon by :
Bikash1003@yahoo.co.in
Gurgaon district is situated in NCR of Delhi, the capital of India. It is just 10 kms away from Indira Gandhi international airport, Delhi. The district derived its name from the name of guru dronacharya; the village was given as gurudakshina to him by his students; the pandavas and hence it came to be known as guru-gram, which in course of time got distorted to gurgaon. Thus the district has been existence since the times of Mahabharata. The district is surrounded by Delhi & Rajasthan. Gurgaon town is about 32 kms away from New Delhi, the national capital of India. Despite of its existence from the time of pandavas, it was unnoticed from the eyes of big boon builders of India till the last decade. Until very recently, gurgaon was a sleepy town on the outskirts of new delhi. Its potential was quickly recognized after the liberalisation of the indian economy, in the 1990's, because of its proximity to new delhi, and the smart policy initiatives of the haryana government. It was only from last ten years that these big builders gave their huge attention and interest towards and started converting it into one of the most organized and modern cities of this country. Gurgaon is best known as one of india's most prominent outsourcing and offshoring hubs. The distribution of companies seems heavily skewed towards the non IT services. A plethora of BPOs and KPOs firms dot the cityscape. A few IT and pharmaceutical firms also exist in the city. Several auto-manufacturing facilities also exist, though they do not dominate the city's economy in the manner they did a decade ago. The outsourcing boom has led to a rapid growth in employment prospects and local wages, leading to a mushrooming of shopping malls, swank restaurants and entertainment facilities.
Demand for such lifestyle options is driven by the demographic shift to a younger, more cosmopolitan, more affluent and better educated population. The fast growing population, with increasing purchasing power, has created a huge demand for housing, resulting in escalating property prices in recent years. Real estate gurgaon is in the way to sky in recent years. Today, skyscrapers and modern shopping malls dot the city, which saw a major real estate boom in the late 1990's and post 2000's.
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