Gurgaon is registering the fastest growth in the real estate sector in the country. Developers are flocking to the region to launch new projects after prices here shot up by as much as 25% in the last one year. Recently, well-established realty players like Godrej Developer, Tata Housing from Mumbai and Sobha Developers from Bangalore launched their projects in Gurgaon. This has further infused competition into the sector in the region.
A large number of white-collar jobs have been created in Gurgaon after it emerged as a hub for IT and IT-enabled services in northern India. Also, owing to its proximity to the national capital Delhi, several Fortune 500 firms opened their offices here, employing hundreds of high-income professionals. And with Delhi already overcrowded, these people tend to buy houses in Gurgaon itself.
But, the availability of residential units is still not adequate. In fact, consultants feel that the gap between demand and supply is still widening. However, the well-developed sectors developed by DLF along the Golf Course Road are almost fully occupied. To enable the city to grow, the authority finalized the Gurgaon-Manesar Master Plan-2021.
Under the new Gurgaon-Manesar Master Plan-2021, the availability of land for development, along with fresh avenues for new growth corridors, has opened up. The major developing growth corridors in Gurgaon include the Golf Course Road, Golf Course Extension Road, Sohna Road, Dwarka Expressway, Pataudi Road, Manesar, Jaipur Highway (NH-8) and a concentrated growth in Bhiwadi and Dharuhera, which are also known as New Gurgaon. The sectors of New Gurgaon, around NH-8, like Sectors 37, 37D, 80, 81, 82, 85, 86, 90, 92, 93, 95, and 99 are registering a tremendous response.
As these sectors have a huge demand, prices are appreciating. Although still favoured by the budget homebuyers, these areas have also seen launches in the premium segment by top realty players like DLF, Unitech, Tata Housing, Godrej, Raheja Developers, Ramprastha, MGF EMAAR, BPTP, Ansal API, Central Park, Orris Infrastructure, Antriksh, and Sobha Developers among others. These premium segments have attracted high net worth buyers, and investors, looking for capital appreciation opportunities.
Golf Course Extension Road
One of the most premium destinations in New Gurgaon is Golf Course Extension Road, which has emerged as the main hub for the expansion and development of New Gurgaon. It connects Golf Course Road to Gurgaon-Sohna Road. The Golf Course Extension Road, which is relatively a new locality, is gaining prominence owing to its easy accessibility to NH-8 and South Delhi via the Gurgaon-Faridabad Expressway.
A place we find the happiness and pleasure by is none other than the destination to the home. At present, to get the home, this comes easy anywhere but does not suffice to all the expectations everyone stands for. The better conveniences with peaceful environment have been a dreamlike. The growth in the population all over the globe is witnessed to never come with green and tranquil living.
Seeing that Haryana Urban Development authority (HUDA) to have passed the proposal for Eight-lane expressway called as Dwarka Expressway makes to the capital city sure to an step away to come in, assuring the serenity and eco-living, altogether. This 18km run of 150-metre wide road starting from Dwarka in Delhi, Palam Vihar and the approaching big SEZs in the millennium city joins to the NH-8 near Kherki Dhaula. Covering at least 16 new residential sectors, Dwarka Expressway or Northern Peripheral Road is liable to touch a commercial corridor, the Harsaru dry port and has been the strong expansion of IT and ITes. Close to the proposed diplomatic enclave, Delhi International Airport and the proposed metro, this expressway makes sure going to a long way in assuring the wonderful connectivity of the northern areas of the millennium cityas well as areas close to IMT Manesar. Also, entrusted to have been doubled to width of Gurgaon Expressway, this extensive road is likely to rid from the traffic burden, easily.
New Gurgaon has become one of the top realty destinations owing to its world-class infrastructure and amenities, connectivity with neighbouring states and close proximity to the IGI airport, and, of course, Metro rail connectivity to Delhi. The forthcoming sectors in New Gurgaon are an ideal showcase of the development in the region; a great deal of construction is on as builders here have plenty to offer those who aspire to own a dream home. These sectors also attract special attention as they are connected to major industrial zones of Manesar, which house industrial units of big firms like Honda, Maruti, Minda, etc. New Gurgaon has today become a preferred destination for lifestyle living and commercial enterprise and is fast turning into a residential and commercial hub.
Most of the development along the Golf Course Extension Road took place in the very recent past. The Golf Course Extension Road includes new sectors like 61, 62, 65, 66, 67, etc. The road is being developed in line with the concept of walk-to-work with a 200-metre commercial belt running parallel to it across three new sectors under development.
The road is 90 metres wide with six lanes and the construction is nearly complete. Green belts are being developed in the middle and along the road flanks making it an eco-friendly project. Special attention has been given to security, health and education of the residents while preparing the layout plan of the new sectors. According to the new plan, Sectors 58-67 will be developed in the first phase. These sectors will have 60-metre-wide roads. All roads in the planned sectors will be interconnected, unlike the existing sector roads, which end abruptly.
With a view to avoiding encroachments beyond the connecting roads, Huda (Haryana Urban Development Authority) has decided to develop a 50-metre-wide green belt along the road and also earmarked a 200-metre-wide strip as an institutional belt. Developers and prompters are building golf-themed apartments and luxury villas set amidst green expanses, most of which have secured approval from GRIHA (Green Rating for Integrated Habitat Assessment).
Realizing the market potential of this developing area, DLF Group has already launched several premium developments on the Golf Course Extension Road. The extension of Golf Course Road to connect to Sohna Road further opened up the area for development.
Apart from DLF, other realty majors too have projects here like Ansal API’s Esencia, M3M’s Golf Estate, Pioneer Group’s Pioneer Park, Central Park, Emaar MGF’s Emerald Hills, Tata Housing’s Raisina, and IREO’s Grand Arch. Sectors like 55-56 along the Golf Course Extension Road already have a large number of cooperative group-housing societies, which has created a critical mass of population on this stretch.
Developers in Gurgaon
Developers like DLF, Unitech, MGF EMAAR, Chintels, Ansal Housing and Construction, Ansal Api, Puri Constructions, Conscient, Vatika, Experion, Orris, Antriksh, Assotech, Raheja Developers, CHD, etc. have major projects that are riding the real estate market.
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