In the year 1989 my family moved from the city beautiful –Chandigarh to the unknown town of Gurgaon. Our first tryst with the city was a dinner at a “Dhaba” opposite the bus stand, today in “Old” Gurgaon. I won’t be surprised if people living in the upmarket Golf Course Road of Gurgaon don’t know of the Main Bus Stand of Gurgaon.
DLF may have issues to deal with in the coming years but DLF, Unitec and Ansals together laid foundation for Gurgaon of today, at least in terms of residential and office developments. We can debate the quality of life in the city. However everything in Gurgaon now seems to be about the New Gurgaon.
After I got lot of criticism for the blog on Dwarka Expressway I asked Harpreet, my friend and guide to new developments in Gurgaon, what would you call – “Golf Course Extension” Road. He said, South Delhi!!! Essentially he meant the most premium address of Gurgaon i.e. Golf Course Road is probably akin to Lutyens Delhi of Gurgaon. He won’t be entirely wrong, as those wealthy of the NCR who can’t afford the Bungalows in Lutyens or Golf Links, found Golf Course Road of Gurgaon habitable. And for those who can’t own an Aralias, Camellias, Belaire and others or can’t buy it for any price, Golf Course Extension Road is the address. Old projects by Unitec and Vatika flank this road but the real construction is towards the right of this road i.e. if turn into Extension road from Sohna Road (Sectors 58 to Sector 67). Geographically the Extension road is located between Gawal Pahari and Badshahpur. And the appeal of the road is connectivity to Gurgaon’s prime business district of Cybercity, MG Road and Golf Course Road.
There are plans for metro to be extended through Extension Road-Southern Peripheral Road. Already there is advance construction on the Rapid Metro line along the Golf Course Road and it will terminate at the edge of the Extension Road. Since these new sectors of 58 to sector 67 of Gurgaon are well planned, the construction looks organised on both flanks of wide roads built or being build.
For a person from “Old” Gurgaon these places look far, as they are far, and the roads leading to them are wide but crowded. Main roads and arterial roads are the back bone of planned urbanisation, which seem to be ample here. Few of IREO’s projects are now delivered and others by EMAAR, M3M and others are in various stages of construction. What though surprised me were extremely tall towers coming up in this part of town. While Gurgaon in the recent times witnessed heightened activity on office leasing – Google picked up 430,000 sq ft office from Unitec, other occupiers recently include NCR Corp, CVent, Goldman Sachs and others, one can feel that supply of premium addresses on the Extension Road may be higher as of now.
Prices here had moved to Rs. 10000 per sq ft in good times however they seem to have moved to Rs. 7500 per sq ft on a few transactions that are getting concluded. Rents can vary from Rs. 28000 per month to Rs. 40000 per month (for 3BHK) depending on size and quality of townships. Support infrastructure isnt right now available on Golf Course Extension Road but one can access other areas of Gurgaon easily from here.
In any case current mood of buyers and investors in the NCR isn’t too healthy for transactions on the residential asset class. But as Harpreet put it, it may take time for Gurgaon’s South Delhi to fill up but office buoyancy should bring in buyers over time.This is Golf Course Extension Road for you which is now slowly getting inhabited.