Gurgaon most attractive property destination in NCR

Gurgaon has emerged as the most attractive destination for real estate investment in the national capital region, according to a survey by industry body PHDCCI.

Gurgaon is followed by Delhi, Noida, Faridabad and Alwar, according to a recent study on 'Determinants of real estate: A survey of Delhi NCR' conducted by PHDCCI.

In the list of top 10 real estate investment destinations, Ghaziabad is at sixth position followed by Panipat, Meerut, Sonepat and Rewari.

"Good transport connectivity, existence of employment opportunities and availability of social infrastructure including schools, colleges, hospitals, etc have made these destinations attractive for real estate investments," the chamber said in a statement.

Metro construction has not only boosted investment sentiments but also resulted in increase in nearby property prices, it added.

According to the survey, price is the most important factor while considering investment in real estate.

The main reason for buying properties in the Delhi-NCR is for residential purpose, followed by investment purpose.

The survey found out that the key factors affecting real estate investment sentiments include high rate of interest on loan followed by inflationary pressures, lack of demand and economic uncertainties.

PHDCCI President Mahesh Gupta has demanded to raise a deduction of up to Rs 5 lakh from the current level of Rs 2 lakhs for interest paid on a home loan on a self-occupied house to boost demand in housing sector.