Realty Market Developing Fast

The realty sector in Gurgaon is developing at a rapid clip with the city emerging as the engine of growth for the NCR.

The completion of the Northern Peripheral Road (NPR) and Southern Peripheral Road (SPR) will open up the floodgates to the real estate sector in Gurgaon and its newly developing areas.

Residential options in Gurgaon vary from 1 BHK to 5 BHK units, which suit the requirement of families with varying size of members and budget.

Also, Gurgaon has become a destination for luxurious projects, both residential and commercial, which offer world-class infrastructure with matching ambience and specifications, in the correct price brackets too. The appreciation of prices here will yield handsome returns to investors and further pump up growth of the city’s various sectors.

Realty projects that have come up near highways or expressways have seen a tremendous response from investors. The enhancement and growth of a specific area depends on the speed of construction by the builders and developers. And presently, the construction of Northern Peripheral Road (Dwarka-Gurgaon Expressway), which connects to NH-8, is moving ahead at a rapid pace.

Prasoon Srivastava, director of Arkiplan International, says: “Since 1991, the city of Gurgaon has gone through major transformation. The city is now the engine of growth for the NCR. The population has doubled in past 10 years, which is nothing less than a miracle. To meet this demand government is taking major steps to improve the infrastructure and, over the next five years, we should expect major improvements. As per the new Gurgaon-Manesar Master Plan-2025, more than 14,000 hectares of land has been designated for new residential developments. Dwarka Expressway, Golf Course Road, and NH-8 connecting Manesar and beyond are the three major corridors of development. The developments around the new international airport is redefined as the new Central Business District (CBD) and its close proximity to Dwarka Expressway and NH-8 is bound to generate huge demand for new office, commercial, and residential spaces in these areas. As the real estate market is already in a transition in the last 18 months, it is perhaps a good time to start investing in areas like Dwarka Expressway as the prices are very attractive and will offer good returns to the investors in future. Also, due to its close proximity to Delhi, it is an ideal place to live and work.”

According to the new Gurgaon-Manesar Master Plan-2031, and the Sohna Road Master Plan-2031, the Huda has planned multiple development activities in new developing areas like Sectors 88A, 88B, 86, 89, 90, and 91. Land has already been demarcated for five hospital sites and three colleges in the area. New commercial areas are to be developed in the form of retail malls and office complexes.

Civic authorities like the Huda and the Municipal Corporation of Gurgaon are presently working hard to complete the additional r road links -the 1 5 0 metre – wide Northern Peripheral Road (NPR) and the 90 metre wide Southern Peripheral Road (SPR). Both roads will make the passage the IGI airport smooth and reduce the traffic congestion significantly.

Land for all sectoral roads of 60 metres and 75 metres, with 12 metre-wide service roads on both sides, in Sectors 81 to 95 has been acquired and these are being constructed by various developers and the Huda.

An MRTS corridor along the 150 metre wide northern link to Delhi starting from Dwarka in Delhi will be extend further up to the 400 acre-Inter State Bus Terminal proposed near Kherki Dhaula. Flyovers have been planned at all major intersections. The Town and Country Planning department of Haryana has already started work on the planned flyovers and underpasses at all major road intersections.

Demand up:

The realty market of Gurgaon has seen a lot of infrastructural development in the past couple of years, riding on the back of a huge demand for residential units.

Sectors 22, 52, 57, 79, 80, 82, 84, 89, 92, 99, 103, 106, 112, etc, have shown the maximum progress in the development of residential land. Many lucrative property deals have come from these sectors. Owing to the good connectivity of the city, complemented by the easy availability of social amenities and work people have invested in Gurgaon’s buzzing residential market.

Major realty players like DLF, Unitech, Adani, Godrej Properties, Tata Housing, Chintels, Raheja Developers, Ansal API, Ansal Housing, MGF EMAAR, M3M, Paras Buildtech, Satya Group, Orris Infrastructure, Amrapali, Supertech, Antriksh, Homestead, CHD Developers, Gold Souk, Ramprastha, Assotech Ltd, etc, are coming with residential and commercial projects in different pockets of Gurgaon.

Realty giant DLF has plans to develop a new zone over 450 acres by the name of DLF Garden City in Sectors 86, 87, 90, 91, and 92. This zone will comprise group-housing, commercial, and plotted development – the land is nestled in the lap of 1,000 acres of open spaces.

Garden City, comprising projects called The Primus, Regal Gardens, and New Town Heights is offering plotted development and will have a commercial complex, Galleria 91. Galleria will house multiplexes and anchor stores. Garden City enjoys a premium location, which will be close to Sectors 74A and 75A, the new commercial hubs in Gurgaon.

The area is a strategically located in Gurgaon as it is close to the Metro corridor and is on a 25 minute drive from the IGI airport while DLF Cyber City is on a 20 minute drive, via NH-8. The project is 6 km from the national highway and the proposed Metro line, 1 km from IMT, Manesar, 5 km from the 135 km-long KMP Expressway, and 5km from the proposed ISBT and Metro depot.

DLF is constructing 3,200 apartments in Garden City while its realty projects in Sectors 86, 90 and 91, over 80 acres, are expected to cater to a population of 16,000.

Alpha G:Corp is set to develop a 12.5acre residential project in Sector 84, Gurgaon, which will have 670 apartments. It will also build Gurgaon One in Sector 84 at a cost of Rs 400 crore; this project is adjacent to the 210 meter-wide new expressway that will connect Dwarka and the IGI airport. The project is around 2.5km from the Metro Hub and the Inter State Bus Terminal (as planned in the Gurgaon Master Plan-2021).

R S ‘Pickles’ Sodhi, MD of Alpha G:Corp, says: “Gurgaon One in Sector 84 will comprise seven independent towers, each over twenty floors, coming in combinations of two, three and four bedroom apartments. The landscaping over 7 acres is the soul of the project, unifying the various elements of this novel habitat. With 90% open space and nearly 60% dedicated to green areas, the project will stand out as one of the greenest residences in the city.”

Supertech Ltd has is planning to develop an integrated township over 153 acres. The forthcoming project will comprise high-end multi-luxury residential housing, which will be located in the green cover of the Aravali range in Sector 79. Supertech has already started construction on Araville in Sector 79, which offers 2- and 3BHK apartments facing a dedicated 10 acre lush green area.

New areas like the Sector 80 to Sector 93 in Gurgaon are an ideal showcase of the development in the region; a lot of construction work is taking place here and the area is shaping up into a residential and commercial hub. These sectors are also attracting attention as they are connected to major industrial zones of Manesar, which house industrial units of leading brands like Honda, Maruti, Minda, etc.

Satya Group has established itself as a brand in the real estate sector with a presence in this area harking back to more than four decades. They built the hospitality project, The Galaxy, among a slew of other residential, commercial and township projects in Gurgaon. Other projects to watch out in Gurgaon are the Centrum Plaza, a commercial office space development and The Legend, a luxury residential-housing project.

Good returns in new sectors:

Major developments are also going on in areas like Sectors 52, 53, 55, and 57, near Golf Course Road and Sohna Road; investors can hope to reap good returns in these regions in the next two-three years. The area is well located and fully inhabited and is in close vicinity of malls, schools, hospitals, and the Metro station. A number of independent houses and apartments are already up here. Some of the well known societies in this area are Ansal API’s Sushant Lok 2 and 3, BPTP Freedom Park Life, AEZ Aloha apartment, M2K’s The White House apartments, Tulip Garden apartments and Clarion’s The Legend – these offer 2BHK and 3BHK luxurious apartments with all modern amenities.

Quick Bites:

• Gurgaon has become a destination for luxurious projects, both residential and commercial, which offer world-class infrastructure with matching ambience, in the correct price brackets too.
• HUDA has planned multiple development activities in the new developing areas like sectors 88a, 88b, 86, 89, 90, and 91. Land has already been demarcated for five hospital sites and three colleges in this area.

Source: Times Property, August 2013
For more information on Real Estate India, Email us or SMS: SAVIOUR at 53030.