The First Residences Of South Gurgaon – ILD GSR Drive

During my recent visit to Gurgaon I witnessed a massive campaign by ILD Developers for their GSR Drive project at South Gurgaon. If you would be following our posts we have been talking about this new location in the ever expanding city of Gurgaon and dynamics supporting property development here.

ILD GSR Drive by International Land Developers (ILD) is going to be the first residential development (when approaching from Gurgaon) in South Gurgaon as per the current development plans. South Gurgaon or Sohna is connected to Golf Course Extension road by the NH 248A which is a signal free road as of today. The plans for the new project are inspired by expanses of Hyde Park in Central London and Central Park in New York. GSR Drive will be the second project by the company at South Gurgaon after their another successful project launch ILD Arete. The construction work at the latter site is in full swing.

ILD was founded in 2006 by Mr. Alimuddin Rafi Ahmed, an experienced real estate professional after two decades of land aggregation experience in Delhi NCR. The company in its early years developed a 200 acre industrial park at Manesar. The company later forayed into development of commercial and residential spaces. It gained prominence as an upcoming real estate player in NCR after it delivered ILD Trade Center a commercial cum retail property on the Gurgaon-Sohna Road at Sector 47. Trade Center is home to retail brands such as KFC, Bikanervala, Nike and others. Girnaar Software and Johnson & Johnson are few of corporate clients in the business centre. ILD has so far delivered 1 million square feet developed land and 4.5 million square feet of area is under construction. Some of its other residential projects at various stages of construction are ILD Greens, ILD Centra and ILD Grand Centra. These 3 projects are in Sector 37 C of Gurgaon.

ILD GSR DRIVE

The project spread over 25 acres of land, located at Sector 36 of South Gurgaon, is the first residential development on the road from Gurgaon. Over 16 acre of land at the centre is free of any development thereby providing ample space to its residents to unwind and relax. Moreover given its close proximity to the Aravalli hills the residents of this place can be assured of green and clean living, something the Delhi NCR is grappling with these days. The pollution and smoke levels in Delhi and Gurgaon have troubled the residents and commuters a lot in every winter season. Noted architect Hafeez Contractor is behind the concept and the company has paid attention to minute details that improves ones lifestyle. For example, no vehicular movement will happen in the inner periphery of the complex thus adding to safety of residents.  This plot is 4 sides open with 75 metres roads on two sides and is adjacent to 100 metres of Green Belt.

As far as the project is concerned, its planning includes the luxury park concept applied previously by ILD for the first time in their other project called ILD Arete as mentioned before. A 60 feet wide fountain at the entrance, driveway flanked by palm trees, cycling trail, several recreational activities, football field and thematic gardens will add to appeal of the project.

IREO nuspark – A New Way Of Living

We were surfing through a leading classified recently when we came across a new offering by IREO called nuspark at South Gurgaon aka Sohna. South Gurgaon has been an area of our interest given the buzz it is creating in an otherwise slow Delhi NCR market. Recently a group of 11 builders did a joint campaign to promote South Gurgaon as a relatively affordable option to an expensive Gurgaon. In addition to these players, IREO, US$2 billion fund, with a track record of project development and delivery in Gurgaon, launched its new offering nuspark at Sector 4 of Sohna.


IREOWORLD 3

Sector 4 Sohna is little inside the main Gurgaon-Sohna highway towards the famous Damdama lake. Ahead on this road one can find Taj Gateway resort and later the Damdama lake. As per the plans a road is planned to link this area with Gurgaon’s sector 63, further linking it to Golf Course road. South Gurgaon, as described in our earlier notes, is coming up as a destination of choice for schools and colleges. Already KR Mangalam and GD Goenka operate here. There are other infrastructure improvements planned along side development of properties here.

Nuspark is redefining the way one thinks about residential spaces. IREO is known to create exclusive features in their projects and this one lives to their creativity. The apartments which are being constructed here are of 2 and 3 BHK with 9 towers in phase I (G+14 structures).

We spoke to the marketing team at the company and were told that core theme of the project is “fundamentals of living” – water, air, hygiene and electricity. We then went through the offering to understand what it all meant. The company is setting a project level water treatment plant (WTP) which will ensure clean water supply across all tap in the house. One would not need to purify the water again through RO treatment etc, moreover the taps and showers in the bathroom will provide only clean water. Imagine benefits of purified water for your bath, brushing and cleaning hands. To ensure fluctuation free power supply there are plans to install a Centralised Automatic Voltage Regulator (AVR) in order to avoid damages and accidents due to voltage fluctuations especially during the summer. In order to provide for clean air and ambience in the project IREO is building a specially reinforced basement slab of higher load bearing capacity to allow for an enhanced soil depth necessary for planting taller trees.

IREOWORLD 2

The provision of pre-laid conduits allows for easy installation of fibre optic cabling for fast internet speeds. As far as security is concerned, they have designed a 3-tier security system, comprising of entry gates with boom barriers, card access system in entrance lobby and basement lobby of each tower, and CCTV surveillance across main entrance gate, tower entrance lobbies and lifts. They are also using pre-fabricated Panasonic Unit Bath Systems (UBS) designed for enhanced seepage control. The range of features that comes along with it are glass panels for segregation of wet and dry areas within, false flooring design, easier plumbing and drainage system, anti-slip and quick dry-floors designed for quick drainage of water, fewer joint lines and smooth surface finishing among others.
The product overall looks futuristic – smart homes, gadget friendly, hygienic with great surroundings. Though it obviously comes at a price, as company has launched the product at about Rs. 5,400 per sq ft, the box price of a 2BHK will work out close to Rs. 90-95 lacs to begin with.

Ireo is a property developer, established in 2004. The first and one of the largest private equity funds, Ireo has been investing since 2004 through an offshore fund. Both as a financier and developer of its projects the firm is motivated towards execution. Their focus in on Delhi NCR (including Gurgaon), Punjab, Tamil Nadu and regions of Goa, and has approximately 4,500 acres of owned land. Till date, the group has launched 23 projects largely across Gurgaon, Mohali, Ludhiana and Pune. It has alliances with developers and operators like Ascendas, Panchshil, Grand Hyatt and Banyan Tree. IREO delivered Grand Arch in Gurgaon and is fairly advanced in several other projects

South Gurgaon – 3 Reasons Why To Consider Property in Sohna

Sohna City

I have heard this grievance several times “Ashish I can’t pay an EMI more than INR 45,000-50,000 a month, where do I then buy a property in Gurgaon”. Plain and simple answer to that is – unless your family left you with a fortune to make a big down payment you can’t own your own flat in Gurgaon prime and this includes several apartment projects of Dwarka Expressway. Recently I was informed about the ambitious joint marketing campaign being done by 11 CREDAI members of Delhi NCR to promote their properties at Sohna. In so many years of investing I have faint memories of such joint promotion by any group, the closest I can think of will be Crossings Republik at Ghaziabad. Though the notable difference there is projects at Crossings were part of one large plot of land. Sohna unlike Crossings is a different story 1) builder plots are all scattered across Sohna Masterplan of 2031 and 2) Sohna’s closest neighbour is more affluent than Ghaziabad or Noida to Crossings. The builder group is calling this campaign as South Gurgaon though each one has their own projects under development. Hence, one has options to decide which one fits the budget and requirements.

Unlike Mumbai most other Indian cities can expand radially which allows for widespread development. Notable examples being Hyderabad or Bangalore where the cities are expanding in all directions. Over the past decade and a half Gurgaon rose in economic and social prominence unlike any other city in India. One can complaint about the hazaar issues the city’s residents face one can not argue that some of the best offices/ office complexes in the NCR are in Gurgaon. Pepsico, Coke, Gillete, Google, Dell, Microsoft and several other Fortune 500 companies, Maruti, Hero Honda and other Indian names are all having strong presence in Gurgaon. For many years real estate fraternity has spoken about the floating population of Gurgaon i.e. people who live in other parts of NCR but travel to Gurgaon for work. This isn’t any trade secret anymore, just why were the courts compelled to announce Gurgaon-Delhi stretch of NH-8 as toll free?

That said Gurgaon unlike Noida had restrictive density norms which led to lower residential developments comparatively. What it further led to was that lesser number of apartments were being constructed on any piece of land. Such a scenario led to lower supply of residences while real estate markets were shooting up. Properties thereby went out of the reach of the common man of Gurgaon. There is a strong need for more affordable housing in Gurgaon.

The Government pushed for affordable housing scheme in various cities of Haryana including Gurgaon, however I have found it difficult to understand how the scheme leads to better economics for builders. Since I haven’t dwelled much over this topic I shall let it pass for now.

I had earlier written about my initial impressions of Sohna as a market I have since spent little more time understanding the dynamics here. For starters Sohna Road flats are a prized possession today in Gurgaon while Sohna is about 15 km away from Badshahpur intersection in Gurgaon.  For me there might be three reasons I may consider South Gurgaon as a good property investment (with usual disclaimers) –

  1. Toll free proximity to Gurgaon – The Badshahpur-Sohna stretch is toll free and is a National Highway (248A). Though there are bumps along the road the stretch is great to drive on. Some properties here can be reached within a timespan of 15-20 minutes from the Badshahpur junction. The only hitch can be the crowded intersection at Badshahpur-Golf Course Extension Road. I have been informed that the NHAI is considering proposals to build a flyover above the Badshahpur village to prevent further choking of traffic here. This can be a much required piece of infrastructure development that can make commute to South Gurgaon pleasurable.

Also another fact that one can consider is that access to Dwarka Expressay is through the toll plaza near the Haldiram outlet on NH-8 which also means traffic jams and long travel times to that place when compared to Sohna may be.

Eldeco Accolade - South Gurgaon
Eldeco Accolade – South Gurgaon
  1. Affordability – The Sohna masterplan allows real estate companies to plan more number of smaller units per acre of land. Many firms have been prudent enough to consider it as an important aspect while designing their projects. Sohna isn’t Gurgaon, which also means the capital values are lower here. The twin affect of lower per square feet price as well as lower apartment size augurs well for the middle class which can think of owning apartments under INR 50-55 lacs here. Much of Gurgaon developments cost INR 1 crore and above because of higher per square price and large apartment sizes.
GD Goenka University Gurgaon
GD Goenka University Gurgaon

3. Live close to the nature – Gurgaon is devoid of green patches and lakes, unless one travels away from it. One such place is Sohna, which is home to Damdama lake and Aravalis. Both are protected zones and will continue to be so, touchwood. Which means that ones who prefer to return home to calmer neighbourhood and fresher environments will find living at Sohna better than in the dry and arid Gurgaon prime.

Social infrastructure at South Gurgaon (Sohna) may take time to match up to that of Gurgaon but then if the above three are your priorities this place may make more sense to own a property at.

PS: You may access a FAQ on this market and flats being sold here on the South of Gurgaon webpage created by us