The commercial setup in Gurgaon has had a cumulative effect on the other segments in the city. A rapid growth in residential spaces triggered by the enhanced commercial activities in local economy in turn led to infrastructural and institutional developments. These established real estate segments paved the demand for hotels, high street retail, restaurant, malls and serviced apartments. The concept of serviced apartments majorly drives its demand from corporates working in Gurgaon who want to live hassle free without having to worry about the basic chores of everyday life. A large percentage of this demand is from the expats working in Gurgaon and nearby areas like Manesar, Bhiwadi and even parts of Delhi and professionals on business tours. Corporates are also leasing out services apartments on a contract basis for their employees. With multi-national culture and presence of companies in different cities the demand for serviced suites has picked up in last few years. One such development that we came across in Gurgaon is Element One by the Satya Group. It is a mix of fully furnished serviced apartments and high street retail.
Satya Element One :Location
Element One has a strategic position, just as required for high street retail and business suites, considering the existing and upcoming corporate and residential development in and around the project site. Element One is located in the thriving Sector-47 and Sector-49 in Gurgaon and is granted seamless connectivity by the Sohna Road which is located approximately 500 metres from the project site. The unparalleled connectivity with National Highway-8 and Golf Course Extension Road will augment connectivity with all prime locations in the millennium city. NH-8 further connects the project with MG Road and the near completion Northern Peripheral Road, and both of these enhance the connectivity with Delhi. The IGI Airport can be accessed via NH-8, Pataudi Road or the Dwarka Expressway.
Satya Element One is located in vicinity of the business districts on Sohna road and Golf Course Extension road and is surrounded by a number of reputed residential projects like Malibu Towne, Nirvana Country, Mayfield Gardens, South City-II. In neighbourhood is Good Earth City Centre, a fully functional mixed development catering to retail, commercial spaces and premium hospitality. In proximity of the project are a number of institutional developments, be it schools, hospitals or entertainment hubs. Medanta Medicity, Artemis, Fortis, Park Hospital and Max Hospital are all easily reachable at few minutes’ drive from the project site. Renowned five start hotels like Vivanta by Taj, Hilton Garden Inn, Fortune Hotel lie in quick driving distance of project site. The existing metro station of HUDA City Centre is at less than 10 minutes’ drive from the project site. The upcoming rapid metro line on the Golf Course Road with further boost the metro connectivity for the project.
Element one at Sector-47 and 49 at Gurgaon offers high street retail which will be inclusive of a variety of brands to shop from, food court, coffee shops, eating joints and a matching contribution by the anchor stores featuring international brands. The high street will also offer recreational opportunities with an apt blend of kids and family entertainment and gymnasium and fitness center. The second major segment of Element One is the Serviced apartments which are fully furnished and attributed with concierge services. Additionally the project will be facilitated with a business center and visitors longue which will cater to the requirements of the residents here. These serviced apartments will have a modern health center for providing 24X7 medical services to the dwellers and the maintenance of apartments will be managed by a professional Facility Management company. This will ensure a smooth and on-call service aimed at directly easing the life of residents at these serviced apartments.
Configuration and Amenities
The serviced apartments start at a size of 670 sq ft onwards and are directed at offering a home cum office lifestyle. The configuration of the rooms includes the bedroom, a living area and attached kitchenette, balcony and bathrooms. The residents will also have access to the internet broadband services offered by the service provider and a direct access will be provided to the high street and anchor stores for everyday needs. The fully functional serviced apartments be inclusive of Split AC, 32’’ LCD TV, Refrigerator, Microwave, Induction plate, Coffee and tea kettle, light fixtures, wardrobes and chimney. A 24 hours power backup and an Intercom, CCTV security system are other features of these apartments. Element One has a total of two towers, A and B which are separated by the service road. Each of the towers have a total of eight floors and the project is at an under-construction stage at present. With a major chunk of construction completed, the project is expected to be delivered in 2017.
The Force Behind
Element One is a project by the Satya Group that has already delivered 7 million square feet of developments across residential and commercial segments in the country. The Satya Group has more than 4 decades of experience and is the name behind prominent developments like The Centrum Plaza – a premium commercial space in Gurgaon, The Legend- luxury residences in Sector-57, Gurgaon and the Galaxy Hotel in Gurgaon.
Element One is setting a trend in the field of serviced apartments that have largely restricted to local developments till now or as a small part of hotels. The full-fledged project on serviced apartments blended with retail is an indicator of the much needed revolution in the space of serviced apartments.
One of the projects that has clearly created a differentiation for itself along the Dwarka Expressway at Gurgaon is the Satya Hermitage. The project is offered for possession and has got heads turning. The quality, landscaping, timely completion and at par price for product has won it appreciation from many. From there, rose the inquisitiveness about the brand behind and its track record. Hermitage is an offering by the Satya Group that has delivered more than 7 million square feet of residential and commercial developments across the country. Satya Group has been in the real estate industry for more than 4 decades with a total experience of 11.5 million square feet of real estate portfolio. The ethos of trust, quality and commitment have been adhered to in all the projects, planned and executed by the Group. Satya Group has earned a reputation in almost all verticals of real estate. We list below the projects accredited to the Group in various sectors:
A Luxury residential development by the Satya Group right adjacent to the Golf Course Extension Road is The Legend in Sector-57, Sushant Lok, Gurgaon. The Legend is a development on lush green open space of 16 acre and houses 12 multi-storey towers. The project was delivered in 2009 and hosts a number of amenities like complete power and security backup, clubhouse, swimming pool, nursery school and multiple activities for kids.
Possession has recently started in the Hermitage by Satya located in Sector-103, Dwarka Expressway, Gurgaon. The project sprawls across an area of approximately 10 acre and the location offers an additive advantage of being at a 5 minutes’ drive to Delhi and just a 15-20 minutes’ drive to the Delhi International Airport once Dwarka Expressway is operational. The Hermitage has on offer 2/3/4BHK apartments and lavish amenities with some of them being a grand clubhouse, amphitheater, private pools in penthouses and ample sports engagements.
The Platina by Satya Group is a project located in Sector-103, Gurgaon catering to 3/4BHK apartments with bigger unit sizes. The configurations include 1947 sq. ft. and 2605 sq. ft. for 3BHK units and 3311 sq.ft., 3339 sq. ft. and 4568 sq. ft. for 4BHK units. Abundant sports facilities form a part of the project including swimming, badminton, tennis, basketball and yoga. Platina by Satya is nearing completion and possession is expected next year.
The Nora is a project featuring 1BHK apartments situated within the compound of Hermitage on Dwarka Expressway in Gurgaon. The size of units on offer is 558 sq. ft. with attached kitchenette, toilet and balcony. The residents of Nora will have access to all amenities available in the Hermitage including ample greenery, club and sports facilities. The project is under-construction and possession is expected soon.
The Centrum Plaza is a commercial development by the Satya Group located at a strategic location in Sector-53, Gurgaon. Centrum Plaza is one of the posh commercial developments on the Golf Course Road and is at walking distance from upcoming rapid metro for the Golf Course Road. It is a total of 4.3 lakh sq. ft. space that was delivered in 2007. The office complex has sufficient parking arena, complete power back-up, coffee shop and is centrally air-conditioned.
Element One is an apt combination of high street retail and serviced apartments. The project is located in Sector-47 and Sector-49, in vicinity of the Sohna Road in Gurgaon. Element One is conveniently positioned in neighbourhood of plethora of high end residential developments. The serviced apartments are fully loaded and accessorized with all modern amenities like laundry services, wifi, library lounge, gym and health zone and concierge services. The high street retail will cater to international brands, state-of-the-art anchors and a variety of eating options. Element One is nearing handover.
Satya Group has recently launched Hive as a part of its mixed integrated development projects and Hive is a blend of smart offices, high street retail, serviced apartments, multiplex, restaurants and food court. The serviced apartments are fully furnished and facilitated with concierge services, gym, health services and business centre. The commercial spaces are compact and customized work spaces attributed with high speed elevators and multi-level parking. The project is located in Sector-102 in Gurgaon and enjoys seamless connectivity with both Delhi and Gurgaon.
Galaxy Hotel and Spa is a luxurious 5 star hotel located at Sector-15, Gurgaon. The hotel is located strategically at a distance of 25 minutes from the Indira Gandhi International Airport. The business districts of Cyber City and Golf Course Road are located are accessible at 15 minutes of drive. The hotel features room and suites, spa and gymnasium, bar and restaurant, ballrooms, halls, meeting rooms and business centers. A number of top-notch lavish brands adorn the retail segment in the hotel with some of them being Tarun Tahiliani, Christina India, Waterlily LA.
Satya Group’s footprint extends to Indore and Bathinda, with a number of residential developments in Indore. The Malwa County is an integrated township located on 110 acre of sprawling greens on AB Bypass road, Indore. The township is a self-sustaining unit with residential, commercial, retail and institutional developments. Malwa Heights and Malwa Jewels are delivered high rise and villa communities located within the township. Satya Group has delivered the City Centre Bathinda, the first shopping mall cum multiplex there. The Mall is located on an area of 2.3 acre and enriches shopaholics with a three levels of shopping experience. With a total development of 1.15 Lakh sq. ft. ad 4 screen multiplex, City Centre Bathinda is the life of the residents in the city.
The Satya Group is a brain child of Mr. Nawal Kishore Agarwal who is also the chairman of the group with Mr. Manish Agarwal as the Managing Director for the brand. Satya Group can be analyzed as a name that has grown over the years with its remarkable launches. Real Estate is not just about launching projects at one go and let me drag over periods of time. It is about launching and successfully completing projects and winning the trusts of customers and prospective clients. Satya Group has come a long way and its zeal with making a difference in products finally delivered to customers has made all the difference.
The never ending desire of not only residing but also working in and around the capital city of India, led to the expansion of the boundaries bordering Delhi to form the National Capital Region (NCR). NCR is a special status to areas in Haryana, UP and Rajasthan along with the National Capital Territory of Delhi. This constitution includes the much active realty markets of Gurgaon, Faridabad, Noida, and Greater Noida. Of these realty markets, Noida and Greater Noida have emerged as preferred residential destinations very close to Delhi border. This attracted a number of corporates to set up their workplaces here. A large number of manufacturers too have come up in Noida and Greater Noida, owing to the incentives offered to industry by the state of Uttar Pradesh.
The history of Noida dates back to 1976 when the Government of UP notified 36 villages as New Okhla Industrial Development Area. The 70’s and 80’s led to emergence of Noida as an industrial hub and in 1990, there was declaration of Greater Noida as a separate entity. Since then, to factor the growing residential demand to match up the increasing population, the realty market started to boom and by late 90’s Noida and Greater Noida were full-fledged real estate junctions.
Early 2000’s witnessed the Delhi Noida Direct (DND) Flyway and the paved way for the Noida – Greater Noida (NGN) Expressway in order to enhance connectivity.
A notable deal of 340 acre took place in 2006 when a large developer acquired land for over 1500 crore rupees in Noida and thereafter started the era of developers investing in land in the region.
The year 2007 saw the launch of one the biggest malls of its time in India, the Great India Place Mall and soon after a couple of years, Noida got connected with the Delhi Metro. This changed the way travel functioned so far for Delhi-Noida commuters. A number of commercial offices and corporates came up in Noida hereon as the region was open for employees living not only in Noida and Greater Noida but also in Delhi, Gurgaon and other nearby areas.
The Buddh International Circuit opened in 2011 and hosted the First Grand Pix and the Yamuna Expressway commissioned in the year 2012 and further enhanced connectivity till Agra. The plan for Noida-Greater Noida Metro was approved in 2014 and the real estate markets of Noida and Greater Noida have been performing exceptionally well on various parameters and across sectors including Residential, Commercial, Industrial and Retail.
Speaking of the existing road network in Noida and Greater Noida, the connectivity has been strengthened since the 2000’s owing to the IT/ITeS in the region. The Delhi-Noida-Direct (DND) Flyover is an eight lane highway that grants seamless connectivity to Noida with the capital city.
The DND is a 9.2 km controlled expressway that has been operational since 2001. The second expressway that transformed the landscape of Greater Noida, and has offered smooth transition to Agra is the Yamuna Expressway, a 165 km six lane highway operational since 2012. Noida and Greater Noida connectivity has been further strengthened by the 6 lane 25 km Noida- Greater Noida Expressway. The metro connectivity offered by the Delhi Metro spans spans across 209 km and connects various destinations in the whole of NCR. In Noida, the Blue Line of the Delhi Metro renders commuters a hassle free journey, with the 49 km patch connecting Dwarka to Noida Sector-32 and is operational since July 2010. The Delhi Metro Rail Corporation recorded the average ridership on the Blue Line Metro in January 2015 as 9,15,172 per day.
The upcoming infrastructure includes the Faridabad-Noida-Ghaziabad Expressway (FNG) that will further strengthen the road network in NCR. The FNG Expressway is a 56 km highway that will connect Noida, Ghaziabad and Faridabad. Much of the stretch of the FNG within Noida is already functional. The expressway is under-construction and is expected to be completed by 2020. Of the total length, 16 km that runs through Noida, 8 km has been completed. A 5 km, 6 lane elevated corridor is also planned between Sector-41 and SEZ II which is expected to be completed by early 2020s. This signal free corridor will pre-empt to reduce the traffic that may further crop up on this stretch. The Eastern Peripheral Expressway commonly known as Kundli-Ghaziabad-Palwal (KGP) Expressway, is 135 km in length and will connect Delhi with Greater Noida, Ghaziabad, Faridabad and Sonipat. The Expressway has been granted with a deadline of 2018 and is aimed at soothing the congestion between the Ghaziabad-Faridabad stretch.
Apart from road network, Noida region’s connectivity will be further boosted by the Noida-Greater Noida metro with a 30 km track across 22 metro stations. The development is undertaken under the banner of Noida Metro Rail Corporation and operations are expected to be commissioned by 2017. One of the most important infrastructural development under-way is the Delhi Mumbai Industrial Corridor (DMIC) that aims at developing industrial cities along the 24 nodes in 7 states. DMIC is proposed to be developed into a global manufacturing and trading hub. 2 of these nodes are in Uttar Pradesh and Dadri-Noida-Ghaziabad node is being developed as a manufacturing city in the First Phase.
An upcoming airport at Jewar near Greater Noida is going to be one big development for this region. Both the state and central government are getting serious about initiating work on this project soon.
Noida and Greater Noida have a good social infrastructure and the same has been seeing an upward sloping curve ever since the property markets here have been established. A number of reputed schools like Step by Step, Amity International, Delhi Public School, Apeejay School, Lotus Valley School, Kothari International School, DPS Greater Noida, Ryan International School are functional since 1980s. Schools such as Amity International have capacity of 6000 seats and Delhi Public School have a student capability of 4000 seats. This indicates not only a strong demand but an equivalent supply from educational institutions. Analysing the hospitality sectors indicates existence of a number of renowned hospitals like Fortis, Max Hospital, Jaypee Hospital, Apollo Hospital, Kailash Hospital and Heart Institute, Metro Hospital and Heart Institute, Amrapali Hospital, Indogulf Hospital amongst a number of others.
Jaypee Hospital has a bed capacity of 525, whereas Kailash and Metro hospital have a bed capacity of 325 and 300 respectively. Retail space has gained ground in Noida and Greater Noida.
Malls such as the Great India Place have been serving customers for almost a decade now and interestingly the largest shopping mall, the DLF Mall of India is operational since 2015 in Noida, Sector-18.
This largest mall hosts 18 anchors, 330 brands, 7 PVR’s, 75 Food and Beverage Stores spread across 7 floors! Centre Stage Mall, Gardens Galleria, Spice Mall, Grand Venice Mall, West Galleria Mall are some amongst a number others.
IT giants such as Computer Science Corporation (CSC) has 3 offices in Noida, Samsung and HCL Technologies are too headquartered in Noida. Other major occupiers include Sapient, Accenture, Fiserv, International Business Machine (IBM), EXL, Iyogi, Dell etc. Key IT parks offering commercial spaces to various corporates are DLF IT Park, Logix Cyber Park and Stellar IT Park.
The major SEZ operating out of Noida are Unitech Infospace and 3C Oxygen SEZ. And companies such as HCL, Moser Baer, NIIT, CSC, Wipro have their own built-to-suit campuses, that are developed keeping in mind the special needs of these corporates. Thus, these Grade A offices buildings and SEZ’s continue to drive corporates and hence fetch demand for housing units in and around these areas. Some corporates who have recently leased commercial spaces in Noida are TCS that leased 2 lakh sq ft in Okaya Blue Silicon, Oppo Mobiles leased 1.73 lakh sq ft in ASF Synergy in Sector-63 Noida, Accenture took up 29,000 sq ft in Brookfield Infospace and British Council took up 25000 sq ft in Advant Navis in Sector-142 in Noida. The rental values of office space have witnessed a sharp increase year-on-year in Noida, Greater Noida and its micro-markets. The rental value range in 2016 in Noida varies from 44 to 70 rupees per square feet. As per a report by Knight Frank, the rental values rose by 9% since the year 2015, indicating good office demand.
The demand for housing at Noida and Greater Noida is driven by the corporate and campus setup in the region, the manufacturing plans and the IT SEZ boost backed by the UP Government initiatives and a number of other secondary activities. Further demand is augmented by large education and government sector. The markets of Noida and Greater Noida have emerged as relatively affordable options for many who look for investment in second homes. The ticket size of units launched in Noida in the first half of year 2016 can be demarcated as, almost 45% of launches fall in the category of Rupees 50 lakh to Rupees 75 lakh followed by 15% launches falling in the category of Rupees 75 lakh to Rupees 1 crore, and 20% falling in the category of Rupees 1 crore to 2 crore. Amongst remaining, 10% launches are in the Rupees 25 lakh to 50 lakh bracket and only 5% launches were witnessed to be under Rupees 25 lakh. This clearly show the preference of buyers and investors for the market of Noida. The statistics of Greater Noida however portray that affordable is the key to the market. 60% of launches were in the bracket of Rupees 50 lakh to Rupees 75 lakh, followed by 20% launches in the luxury segment of Rupees 1 crore to 2 crore. 20% of the launches in Greater Noida have been in the Rupees 75 to 1 crore category and 10% each in the under 25 lakh category and Rupees 25 to 50 lakh bracket. The demand for luxury and green living especially a component in Greater Noida projects can also be derived from this analysis. The test of the waters is done by real sales and total units sold in NCR market from 2015 to first half of 2016 indicated that maximum units have been sold in Greater Noida. Greater Noida has clearly emerged out as the winner in the total sales and by figures is almost responsible for 45% of the total sales on average in NCR. The sales in Noida have been 15%, 14% and 10% for H1 2015, H2 2015 and H1 2016 respectively. The improving connectivity to Greater Noida via the Expressway, the relative affordability factor of ticket sizes and the positive sentiments on metro development plans have boosted the sales month on month for the region.
Several instances such as the NGT issues in Noida, stalled construction due to land acquisition issue in Greater Noida West did have an impact on the realty market in Noida and Greater Noida in 2014 and early 2015 but on successful resolution of these issues, the regions have witnessed not only exceptional launches but also matching sales. The end user and investment sentiment has picked up going further with the commission of Metro till Greater Noida, these markets are expected to reach their all time high. This will be the much needed connectivity that Greater Noida has lacked as an alternate to public transportation. With fully functional broad roads, up and running infrastructure, amenities and facilities with every residential project, the regions of Noida and Greater Noida will provide one of the safest bets for coming years in real estate.
Sohna, now known as South of Gurgaon has emerged as a one stop destination for small budget residential projects, abutting the developed regions of Gurgaon. The existing and proposed economic developments are generating housing demand for South of Gurgaon (extensive coverage). This demand is not only from end users, who are searching homes at most feasible locations from their work centres but also from investors who are eyeing the market for capital gains. To cater to this upcoming demand, 25 developers launched their residential projects in the most eyed location. We visited Arete by ILD, a residential development planned on 12 acre of land by the renowned, International Land Developers (ILD) in South of Gurgaon. At Arete, ILD has put on offer 700 units, coming up in 8 towers. Arete will feature a unique 3 acre central park and unobstructed views of the Aravallis. Further to add to its unique appeal these 8 towers are anywhere from 20 floors high to 28 floors high, this allows for maximisation of views and circulation of air.
Locating Arete by ILD
Arete by ILD is positioned in sector-33 which is the first residential sector of South of Gurgaon as per the Sohna Master Plan-2031. There are multiple roads that lend connectivity to South of Gurgaon and link it to various regions within the NCR. This region is well connected to NH-8 via NH248A and Northern Peripheral Road (upcoming). Sohna Road and Southern Peripheral Road render ample connectivity to Arete by ILD.
The Golf Course Extension Road further links Arete to Golf Course Road and MG Road. The business districts of Gurgaon (Cybercity, Udyog Vihar, Sohna Road) can be reached well within a 30-35 minutes drive. Less traffic, developed roads and existing connectivity are some of the major reasons, users are preferring housing at South of Gurgaon over other newer micro-markets in Gurgaon. This region is also linked with the Kundli-Manesar-Palwal Expressway (136 km stretch connecting Palwal to Panipat) a part of which is already operational and the rest goes functional in an year. Connectivity to Arete by ILD will be strengthened due to a 60m wide proposed road that connects Sohna directly to Sector-63 in Gurgaon.
Metro may not provide last mile connectivity to Arete by ILD for now, but existing HUDA City Centre Metro station can be reached within 20-25 minutes from project site, and the nearest rapid metro station will be the Sector-55/56 metro station on the Golf Course road which can be accessed within similar time-frame.
Arete by ILD : The Neighbourhood
With most upcoming locations, the issue faced is lack of amenities in the surroundings and with futuristic developments livability becomes a far sight. That’s the real plus point for the location, as the neighbourhood is already in advanced stages of social development. The education infrastructure – GD Goenka World School, Pathways World School, Ryan International School, KR Mangalam University lie in close vicinity of Arete by ILD. A number of retail chains like Big Bazaar, Shopper’s Stop, Aditya Birla More etc ease the daily convenience for residents. Renowned and trusted names of hospitals like Max, Fortis, Artemis, Park can be easily accessed within 15 to 20 minutes of drive. Luxury hotels including Gateway Resort by Taj, Westin Sohna Resort are in close proximity of project site. As this area gets further inhabited many of these conveniences will also become closer.
Arete by ILD : The Product
Arete by ILD is a collection of beautifully designed 2BHK and 3BHK apartments with 3/4th of these facing the central greens of 3 acres. The developer is offering French windows for these residential unit for occupants to enjoy the breathtaking views of the pleasant surroundings. The sizes on offer for 2BHK variants include 1275 sq. ft. and 1325 sq. ft and the 3BHK variants include 1765 sq. ft, 1785 sq. ft. and 1998 sq. ft. Some of the variants also feature study room and puja room thereby enabling buyers to choose layouts and sizes per their requirements.
Apartments at ILD Arete, Sohna are available at Rs. 4275 per sq. ft. (base price) and that means apartments can be bought from Rs. 53 lakh onwards (plus other charges).
ILD is offering some additional facilities like Modular kitchen and air conditioning that can be availed by paying some premium above the basic cost.
Arete by ILD : Amenities Offered
A twin level clubbing zone is the epicenter of entertainment at Arete by ILD. The clubhouse spreads across 12000 sq. ft. The clubhouse is facilitated with a fully equipped gymnasium, swimming pool, outdoor lounge, mini theatre and spa and salon. Other amenities that are an integral part of the project include Golf putting, yoga studio, basketball court, tennis court, cricket practice area, meeting room, zones for senior citizens along with thematic gardens, sitting area and kids play area. The luxury residences at Arete by ILD are an architectural framework designed by the world renowned Warner Wong Design, or WOW, Singapore. Some of their key works include Al Barari, UAE, Taj Vivanta, Bangalore and Solaris, Malaysia.
ILD has launched a RSIP- Real Estate Systematic Investment Plan for the buyers of Arete. A one of its own kind of investment plan, it allows buyers to pay a fixed amount monthly to the developer instead of the mediating financial institutions. In order to curb the financial stress of EMI’s and the long loan process cycle, ILD has devised this RSIP scheme to enable buyers to buy homes by paying RSIP’s as low as Rs. 35000 per month (Further details can be sought from the company).
Construction is in full swing at the site and with spacious park residences at Arete by ILD in making, it is one of a kind project in line with the group’s vision of identifying locations that have potential for growth and the firm is executing projects in these locations to set standards in the industry. ILD is an upcoming brand of the ILD Trade Centre fame in the Gurgaon real estate market and has a number of other residential projects in pipeline.
The ever increasing economic growth prospects in the national capital of the country, complimented with scarce resources paved the way for formation of National Capital Region (NCR). The urban areas of Haryana, Uttar Pradesh started providing the much required momentum for setting up of industries, commercial and residential hubs.
Gurgaon has been responsible for shaping the skyline of NCR, with much of it attributed to the growth trends across Golf Course Road, MG Road, NH-8 and Golf Course Extension Road. The concentration of economic activities in these areas consequently led to a boom in the residential sector and overall development. With the spurt in economic development centered around Sohna, for instance the Industrial Model Township of Sohna, the Western Dedicated Freight Corridor passing through Sohna and the opening of the Kundli-Manesar-Palwal (KMP) Expressway, the conditions are favourable for the residential real estate to witness a heightened demand here.
Gurgaon-Manesar’s population was estimated at ~15 lks in 2011 census, it is expected to touch a whopping ~42 lks by 2031, while Sohna recorded a population of ~67,000 in 2011 and it is expected to rise nearly 10 times to touch ~6.40 lks in the same period of time. These numbers are staggering and propel demand for housing in Gurgaon-Manesar-Sohna belts in coming years.
South of Gurgaon, Understand the Location:
Sohna is geographically placed towards South of Gurgaon (that is where it gets it name South of Gurgaon) and is neighboured by industrial town of Manesar. South of Gurgaon enjoys seamless connectivity with NH-248A that runs from Haryana to Alwar in Rajasthan. NH-248A is a four lane highway well knitted with the NH-8 that intersects it at Rajiv Chowk in Gurgaon. The Northern Peripheral road (NPR) and Southern Peipheral road (SPR) will grant ample connectivity to South of Gurgaon with Gurgaon and Delhi. With the news of SPR going operational this year, South of Gurgaon will get a direct connectivity boost with the Golf Course Road, Golf Course Extension Road and NH8. The Kundli-Manesar-Palwal Expressway that passes via South of Gurgaon and runs between Palwal to Panipat adds direct access to various part of NCR, offering connectivity to various highways. The 52 km stretch between Palwal and Manesar is now functional, with the rest 135 km expected to be completed in a year’s time. This will in turn act as a strategic route for all economic activities planned along the areas like IMT Sohna.
South of Gurgaon will also enjoy direct connectivity with Golf Course Extension Roadvia a proposed road that runs parallel to NH-248A and connects Sohna to Sector-63A in Gurgaon. This 60m wide road is in planning stages and the completion date is yet to be ascertained. An onward journey from here will lead to Golf Course Road, Mehraul-Gurgaon Road and Cybercity.
The Indira Gandhi International Airport is at an approximate distance of 40 kms from South of Gurgaon and the nearest railway station of Gurgaon is at about 28 kms from the budding micro-market. Speaking of the metro connectivity, the HUDA City Center is reachable within 20-25 minutes of drive and the nearest rapid metro station will be the last station of the Golf Course rapid metro that which is under-construction at present. This rapid metro station of Sector-55/56 of Gurgaon will be reachable, within 25-30 minutes from South of Gurgaon. The proposed project of Pod taxis (a type of personal rapid transport system) will have a station at Badshahpur Chowk, which is approximately a 20 minutes’ drive from here. The project for POD taxis is under planning and will be completed in about 1-1.5 years post commencement of work.
To decongest the traffic at Badshapur Chowk, the NHAI (nodal Highway authority) has planned a 2 km flyover on the Sohna Road over the Chowk. The timelines for completion of the project are not yet announced. The Delhi Mumbai Industrial Corridor Project (DMIC) is a Government of India initiative that is aimed at reducing the travel time in movement of goods thereby facilitating the manufacturing and tertiary sectors of the economy. The Dedicated Freight Corridor is set to benefit IMT Sohna since it passes through South of Gurgaon and is planned to be completed by 2018-19.
Moreover this region is right at the foothills of Aravallis which are in the protected zones and there are several green belts around the areas designated for commercial uses. This region is very unlike the prime Gurgaon which is now densely inhabited with little green cover left within the city premises.
The social infrastructure of South of Gurgaon is already in place with a number of schools, hospitals, shopping centers, hotels operational. Amongst reputed schools are Delhi Public School, Ryan International School, GD Goenka World School and Pathways International School. KIIT College of Engineering, K.R Mangalam University, G.D Goenka University, JK Business School are amongst reputed institutions for higher education. Key hotels include The Westin Sohna Resort and Spa, The Taj Gateway Resort, Country Inn and Suites, ITC Grand Bharat and Lemon Tree. These hotels attract weekend tourists and corporates on a regular basis for excursions.
Guri Hospital, Alaska Hospital and Vardaan Hospital are in South of Gurgaon while hospitals in vicinity include Columbia Asia, Privat Hospital, Neelkanth Hospital, Max, Fortis and Paras. Retail zones that take care of day-to-day convenience are Big Bazaar, Aditya Birla More and Shoppers Stop apart from convenience stores and centers at residential projects in South of Gurgaon. Organized malls in proximity of South of Gurgaon are Good Earth City Center, Raheja Mall, Omaxe Mall, ILD and Celebration Mall amongst a number of others.
South of Gurgaon, Demand Drivers:
One of the most important factors that determine the fate of a new location is the proximity of the location to office and commercial hubs. As far as South of Gurgaon is concerned, it has good connectivity with the commercial business districts, secondary business districts and peripheral business districts of Gurgaon. DLF Cyber City has an existing stock of 13.2 million sq ft with major occupiers being RBS, GE, Accenture, Ericsson, a 10 million sq ft of existing stock is at Udyog Vihar with major occupiers being Snapdeal, Bank of America, Sapient. Another 12 million sq ft of existing stock exists at Sohna Road and key occupiers include McKinsey, Capgemini and Aricent. Similarly other office hubs like Golf Course Road, MG Road, NH-8, Southern Peripheral Road are all accessible easily from Sohna Road and a number of routes provide alternate connectivity to these business districts in Gurgaon.Giants such as Google are making Gurgaon their prime activity center in India, also there is a lot of demand for offices by young ventures who are making base in this city as it provides requisite ecosystem.
The growing Industrial and Manufacturing hubs will also render demand for South of Gurgaon. IMT Manesar that houses brands like Maruti, Hero MotoCorp and Honda and spreads across a sprawling 3175 acre, IMT Sohna that spreads across 1500 acre and is under-construction at present, the industrial area of Bhiwadi that spreads across 6500 acre and houses giants such as Honda, Saint Gobain and Gillette are all going to add to demand for South of Gurgaon address.
South of Gurgaon, Residential Supply:
To match this upcoming demand for housing in South of Gurgaon, a number of developers have launched their projects at affordable rates when compared to established part of Gurgaon. These are International Land Developers (ILD), CHD Developers, Ashiana Housing, Sweta Estates (Central Park), Silverglades, Supertech, Nimai Developers, Eldeco, Ashiana Homes, Ireo, Raheja Developers, TATA Housing, Homestead Developers, Gold Souk and Mks Ventures. Across multiple product platforms, 25 developers have launched residential projects in Sohna. An analysis of the projects launched indicates that 2 and 3BHK apartments are the most common configurations across projects. Sizes varying from 985 sq ft to 1350 sq ft are predominant configuration sizes for a 2BHK and sizes ranging from 1400 sq ft to 1950 sq ft are predominant configuration sizes for 3BHK. An analysis of the product typology concludes that 74% of the launches are group housing projects, followed by 15% of plotting and 10% of independent floors and the remaining 1% dedicated to villas.
The availability of higher 2BHK and relatively smaller sizes is also possible because of regulatory reasons as more density is allowed per acre of development at South of Gurgaon than in Gurgaon. This was need of the hour as unit costs in Gurgaon were going out of reach of several in the middle class income brackets.
South of Gurgaon, Price Trends and Affordability:
One of the factors that is turning the table in favor of South of Gurgaon is the pricing and the affordable nature of residential projects. When compared to Gurgaon and its developed residential markets such as Golf Course Road or Golf Course Extension road, price difference is almost 50% or more! The current pricing at South of Gurgaon ranges from Rs. 4200 to Rs. 4500 per sqft and this lends the tag of an affordable destination to the market. A weighted average ticket size comparison between the price points in South of Gurgaon vs the price points in Southern Peripheral Road (SPR) and Golf Course Extension road reveals that a 2BHK costs Rs. 54 lakh in South of Gurgaon. A similar unit will cost Rs. 80 lakh in SPR and Rs. 1.6 crore in Golf Course Extension road. A noteworthy fact is that the latter markets are located at a travel time of twenty to thirty minutes from South of Gurgaon. In coming years these travel time will shrink further with improvements in infrastructure. This further portrays that the market of South of Gurgaon is in nascent stages at present and the scope of appreciation is huge, a point that should be given serious consideration by investors. With a closer look at the the pricing and group housing developments in South of Gurgaon, it can be summarized that 54% of the launches are below Rs. 60 lakh, 31% between Rs. 60-80 lakh and 15% above Rs. 80 lakh. This provides the middle income group with ample choices for their dream home, which was a distant reality in Gurgaon.
Most of these developments today are being planned with ample and vast views of the hills and greens, something a home owner can take pride in when he is able to reside here. The quality of lifestyle that South of Gurgaon is currently promising to prospective buyers is much different from similarly priced properties in Gurgaon-Manesar belt.
South of Gurgaon, an emerging realty hotspot:
Current connectivity to South of Gurgaon sets it apart from peers in Gurgaon which have witnessed several years of delays in infrastructure development. That said it is imperative for the markets growth that infrastructure development picks up – connectivity to Golf Course Extension road, sector roads, sewage and water lines amongst others.
The residential projects launched by developers in South of Gurgaon will get delivered in 3 to 4 years and by then livability will be more favourable. South of Gurgaon has emerged as an affordable destination and the capital appreciation it will offer is set to benefit the buyers at large. In the next 4-5 years, the proposed infrastructure will be completed and the existing connectivity will be strengthened. South of Gurgaon will continue to be the weekend gateway of NCR, credits to the breathtaking views of Aravallis and the ample choices offered by hospitality majors such as TAJ and Westin. The IMT Sohna will be soon operational and the existing industrial belts of Manesar and Bhiwadi will keep on serving demand for the South of Gurgaon realty market coupled with demand from exiting corporate hubs of Gurgaon. With a foreseeable habitation of the working class and mainly end users in the coming years, and given that projects by developers and Government meet their timelines, South of Gurgaon will witness more socio-economic activities and robust overall growth.
No one can now say that South of Gurgaon is merely a temple town famous for naturally occuring Geysers, but a formidable real estate market that is at cusp of growth.
Progressive and professional names in the real estate market are here to stay, especially in the post RERA environment. They contribute significantly in forming the skyline of Gurgaon with their visionary developments. One such upcoming group that was formed under the brand of the “ALM Group”, operational since 1990, is the International Land Developers Group (more commonly known to us all as ILD).
ILD started its journey with the Gurgaon real estate market and is creating a niche for itself. With respect to numbers, it has delivered 1 million square feet of development that includes a 0.5 million square feet of quality office cum retail space along with 200 acre of industrial park. Another 4.5 million square feet is under-construction and to add to it a 5 million square feet is in pipeline! The developer has 5 ongoing residential projects in Gurgaon region with 3 of them strategically located at Sector 37C, Gurgaon and other 2 at the emerging destination of South Gurgaon. These developments cater to a vast audience in the middle and higher income categories with prices starting from Rs. 40 lks for a 2 BHK to lavish penthouses that are under construction.
International Land Developers (ILD) has an established name not only for its commercial and industrial accolades that it has delivered in the past but also for a number of residential projects that are nearing completion and possession. Some of their already delivered projects in the millennial city of Gurgaon include:
ILD Trade Centre
ILD Trade Centre Offices are located in one of the busiest office localities, Sector-47 of Sohna Road in Gurgaon. The commercial building comprises of over 1 lakh sq. ft. of office space that houses major tenants like Johnson and Johnson, Lenovo, NDTV, HDFC, VFS Global amongst others.
ILD Trade Centre was conferred as the “Best Commercial cum Retail shopping mall in metro category” at CREDAI Real Estate Awards 2012. ILD Grand was also awarded as “Most Promising Residential Project of North India” in 2013 and ILD emerged as “Emerging Developer of the Year in North India” in the same year at 5th Annual Real Estate Awards.
The lower three levels of ILD Trade Centre at Sohna Road are a part of the ILD Mall. Major tenants include KFC, Dunkin Donuts, Dana Choga Kitchen, Bikanerwala, Café Coffee Day, Lee, Nike, Samsung amongst others.
A mention must also be made of the variety of spheres that the developer is involved in. Among its most eagerly awaited offerings is Skyjumper, an approx. 12,000 sq. ft. trampoline arena coming up in Gurgaon. Offering options such as a trampoline volleyball court, basketball hoops, dodge ball and wall walk etc., it promises to be a thrilling entertainment destination.
The ILD Trade Centre will see Innov8, a leading co-working spaces provider,operate out of its premises. Covering an area of approx. 10,000 sq. ft., these managed co-working spaces promise to offer all facilities for people to coordinate in coming up with innovations and products to build a better life for all.
Industrial Plotting at Manesar
ILD has experience in acquiring and allotting more than 200 acres of industrial land at IMT Manesar to big names of automobile industry like Maruti and Honda.
A Brief on ILD
ILD was set up by Mr. Alimuddin Rafi Ahmed in 2006 post acquiring an experience of the real estate functioning and land consolidations for over two decades. The developer has a very logical approach to its projects that include launching projects at locations that have the potential to grow. A very fine example is the ILD Trade Centre, which has now become a growth and profit story for the Group. The Group has set its foot in South Gurgaon and chosen it a potential growth location with its residential projects across budget categories.
All of its current projects abut the major roads and highways in the region. ILD is investing heavily in transforming its development portfolio to be one of the most modern and in sync with the times. They have used services of leading architects and construction firms such as – Mohit Gujral for Trade Centre, WOW Architects, Hafeez Contractor and Design Forum International for the under development residential portfolio.
In our various conversations with the management team and others at the company, we could find that Group is investing in its brand, processes and future growth. Several professionals have been brought into important positions and there is a good thrust to digital initiatives as well. This is turn reflects the firm’s philosophy of “work with the best”, thereby infusing best design practices, international standards and best of services to the industry.
ILD believes in well planned structures that are not only sustainable but also scientifically driven for convenient end user dynamics. And most importantly, they believe in not only scoring customers but also maintaining a long relationship with them which is fruitful both the ways. The process oriented work culture has helped strike the right balance for documentation and the professional approach of employees have equally played a role in plugging the right socket for success.
Refer our disclaimer.
The details displayed on the website are for informational purposes only. Information regarding real estate projects including property/project details, floor area, location data has been sourced from multiple sources on best effort. Nothing contained herein shall be deemed to constitute legal advice, solicitations, marketing, offer for sale, invitation to acquire by the developer/builder or any other entity. You are hereby advised to visit the relevant RERA website before taking any decision based on the contents displayed on the website.
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