Gurgaon should be listed in the categories of Indian cities that have seen tremendous growth and development within a short span of time. Yes, being the largest city in the state of Haryana, it is not only paving growth to the state, but also increasing the revenues for the state and indirectly to the country.
Many private real estate companies such as, DLF Universal, Unitech Group, Emaar properties … had done many projects for various fortune 500 companies and are also continuing to construct projects, thereby investing huge amounts into constructing malls, office buildings, and other residential buildings etc… The real estate in Gurgaon is seeing promising growth, as many new infrastructure assignments are rising, every year. The Haryana government did realize the promising trend in the real estate sector of Gurgaon and have updated new supporting changes in the land use fees and license fees, which in fact have made many private retail property owners to invest more in constructing new projects in Gurgaon, thereby ultimately increasing the real estate value in Gurgaon.
Its proximity to the Indira Gandhi International Airport (as it is only 30 km south of national capital, Delhi) is one of the major attractive reasons for many organizations and companies to setup their base in Gurgaon. The land prices and real estate value were cheap during those days, when these organizations formed their foundation in Gurgaon. Further, these organizations have started their service and outsourcing centers too in Gurgaon. And now, because of the tremendous growth of these industries, the economic conditions of Gurgaon have also started to grow automatically. Now, Faridabad and Gurgaon, together generate around 50% of income tax revenues to the Haryana state.
Of course, there is no question regarding the growth of various industries in Gurgaon. You could also say that it has become the business hub for telecommunications industries on the whole, as a result the prominent players in the telecommunication industry sector, such as Bharti Airtel, Ericsson, Alcatel, Motorola, Nokia, and Lucent have established their headquarters in Gurgaon. Many automobile industries too have flourished their manufacturing units in Gurgaon, such as Honda, Maruti Suzuki, etc… With the growth of these industries, the infrastructure features have also seen a huge growth towards the international standards and quality, thereby attracting more and more companies to invest in Gurgaon, for example, the Reliance Ventures, an Indian multicrore company have signed a joint venture with the Haryana State Industrial and Infrastructure Development Corporation Ltd to setup a multiproduct special economic zone in Gurgaon with an investment of around 40, 000 crore.
There are more than 40 malls in Gurgaon, thereby making it as one of the largest cities in the country with maximum number of malls. The mall cultures have started to revolutionize the lives in Gurgaon during the year 2003, since then it has never stopped to amuse the people with new inventions, and tremendous growth of entertainment varieties. The first one in this category is the DLF City center mall, followed by the MGF metropolitan, Shopper’s Stop, Sahara Mall, etc… there are also many mall projects have been signed to excite the people in the future, such as, DLF Star Mall, Raheja Shopping Mall, Metro Mall, DLF Mall of India, and many more. Thus it not only an exciting news to Gurgaon people, but also an amusing news to Delhi people too, as they could drive by car (to Gurgaon) to enjoy the varieties in these malls.