Industrial development of Gurgaon in the past decade has seen service class migrating to the city in search of lucrative and high paying jobs. Gurgaon’s population since then, has evolved in a massive segment of high end consumers which acts as a magnet for the retail sector. Favourable government policies, presence of real estate giants like DLF and a modern, upper middle class population is promising a considerable growth in the retail sector of Gurgaon.
Brands, small and medium businesses have now been looking to rent out a Retail shop in Gurgaon due to promising yield it provides over other modes of investment. The brands get a close proximity with a massive population that falls under their targeted segment, and the realtors get a high return for their investment in development of such marketplaces.
Owning and renting a shop in Gurgaon comes with its own perks. The while the businesses get an easy access to the suburban population of Gurgaon, the builders get to charge a high rental yield for their properties. Here are a few factors which have helped Gurgaon become one of the major magnet for the retail and real estate sector of the NCR region.
Organized Retail
With all the beautiful real estate projects around, Gurgaon appreciated organized Retail much more than the unorganized sector. Both the authorities and public find organized Retail easier to maintain and suited for the suburban population of Gurgaon. This preference has led to the development of many marketplaces ranging from mega malls to small shopping complexes. Owning a retail shop in Gurgaon had thus become easier as you will always have a suitor for your property.
Demographic Mix
The demographic Mix of Gurgaon plays a huge role in the development of retail sector as well. Most of the people residing in the region are young professionals who prefer organized Retail shops and a compact marketplace much more than an open, unorganized market. This segment of people do not have much time to spare on shopping and other indulgence other than in weekends and a prefixed shop of their preference will always have an edge over unorganized shops that are hard to find.
Growing Population
As of 2018, Gurgaon is home to 8.77 lakhs people which is a huge population that will drive a very fats consumption of goods. New commercial and residential developments in Gurgaon are promising that the number of people residing in the city is only going to increase, bringing in good news for retail shops. Owning a Pre rented shop in Gurgaon translates into having direct access to over 8 lakh people which is by no means a menial number.
Disposable Income
The best part about gurgaon’s population is the income spread they fall in. Most of the pool choosing to live in Gurgaon have moved to the city for a lucrative job and a fat paycheck. The rising disposal me income for the demographics means more shopping, a good news for retail shop owners.
Standard of Living
The upmarket population of Gurgaon is the main attraction for many retail giants as the standard of living prevalent in the region favors branded and quality goods. This trend has seen a surge in retail shops in Gurgaon, all of whom are competing to offer the best quality goods suited for the lifestyle of posh population of the region.
Preference for Luxury Goods
Influenced by social media trends and huge paychecks they receive, the working population of Gurgaon has a thing for luxury goods and places. These people like to wear branded clothes, hangout at posh places and eat in sumptuous Restaurants. Many mega malls in Gurgaon now boast of being home to giant national and multinational brands who see a considerable growth probability in the region.
Besides all the other factors listed above, the loaction advantage Gurgaon provides to the retail is unmatchable. You will find here a suitor for shops of all sizes. From multinational brands to local businesses, gurgaon’s undeniable thirst to become the shopping mega District of the NCR is promising only profits in the near future.