For those looking at buying a house in Gurgaon, the new Gurgaon Masterplan brings some good news since the plan provides for an additional 14,930 hectares of land for residential development apart from 1,404 hectares for commercial development. What this will do is bring additional supply into the market thereby leading to a decrease in rates.

At the moment very few new projects are being launched since most of the land available in residential zone of the previous masterplan has been exhausted. This shortfall in supply was also leading to an increase in property prices but now, that the notification for the new Masterplan has come, the city is sure to witness several new projects spread across much larger areas than before.

According to market experts the new supply could be good news for the middle-class and would, in all probability, lead to some price correction in developed areas. In fact some builders are of the opinion that prices in the new sectors being created could be as much as 30-40 per cent lower than in existing sectors.

This will also lead to developers starting to focus on the middle and lower segments of the society instead of just catering to the rich, as is the case right now. According to market sources several big developers like DLF, Unitech, Vatika, Raheja, Vipul, etc. are expected to announce new projects in these recently notified areas shortly.