New Gurgaon: New Axis of Development

The Times of India - Times Property
November, 15, 2014

Gurgaon is a prime investment and residential destination, not only because of its proximity to Delhi, but also for the rapid pace with which it has taken on to the contemporary lifestyle, be it in the residential or commercial space.

The Haryana government is investing heavily in this area, as also in the forthcoming KMP and Dwarka-Gurgaon Expressways, where the new sectors on both sides of NH-8 up to Manesar are part of the Master Plan-2031.

As a result, infrastructure development in these sectors is now being taken up actively to support the large residential projects expected to be delivered over the next three-five years.

In a report, the rating agency ICRA has said that Gurgaon, particularly, New Gurgaon and Golf Course Extension Road, remain the most active micromarkets in the Delhi NCR, witnessing the maximum launches, due to major infrastructural developments like DwarkaGurgaon Expressway and the 135km-long KMP Expressway.

Gurgaon has long been a clear winner as the most attractive area in the Delhi NCR region.The value of properties in Gurgaon has seen good appreciation in the last few years.

With the best-in-class infrastructural amenities and good connectivity to Delhi, the area is today one of the most sought-after locations for residential and investment purposes in the entire north India.

The primary reason for the continued growth in real estate values in the locality is the close proximity of Gurgaon to the national capital. Colonel R S (Pickles) Sodhi, the MD of AlphaCorp, says: "Gurgaon has immense demand for property and with rocketing property prices in the main city, buyers are looking at new areas like Greater Gurgaon, that offer equally good options at economical rates. Currently, Greater Gurgaon is registering a boom in the real estate market with supply keeping pace with demand.

"The area is set to emerge as the next axis for residential, commercial, institutional, and industrial development. Considering all these factors, it is the best time for end users and investors to enter this market."

Today, Gurgaon as a realty destination has it all-from industries to MNCs, residential to commercial units, and everything that a house hold would require to fulfil their needs and desires. With the recent approval from NGT to widen NH-8, Gurgaon will see another realty boom in the next few years. The target market for Gurgaon has been a mix of Delhi, NRIs, and locals from the state.

Developing areas like Sectors 79, 80, 81, 82, 83, 85, and 88 of New Gurgaon, which are some of the best-located sectors in Gurgaon, will soon be amongst the best destinations in Gurgaon for residential purpose. These sectors provide unmatched location and brilliant connectivity for commuters.

Top realty players have been active here and the government, in a bid to accommodate the demand from the burgeoning population of the Millennium City, has brought newer areas under the umbrella of development.

DLF's Garden City is one of the most soughtafter projects in New Gurgaon. True to its name, this gated community is located along a 1,000-acre green expanse. Garden City has the benefit of good connectivity through the forthcoming Dwarka Expressway and Kundli-Manesar-Palwal (KMP) Expressway.

Ansal Housing has had a lot of experience in the Gurgaon market. Kushagr Ansal, the director of Ansal Housing, says: "New Gurgaon is one of the most rapidly developing areas of Gurgaon. It has wonderful connectivity and is located in close proximity to commercial and industrial units. Also, it is very close to NH-8, which will be very critical for residents living in those areas."

M K Gupta, the chairman of KPDK Buildtech, says: "The kind of development that is taking place around the region is amazing.There are numerous residential projects under construction here which will increase the demand for commercial property in the future.With this view in mind, we are coming up with our maiden commercial project, Newtown Square, in Sector 95A, which is bang on the 135metre-wide Pataudi Road, which connects to Dwarka Expressway."

New Gurgaon: New Axis of Development
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