In the year 1989 a family of four moved from the city beautiful, Chandigarh, to a dusty and poorly lit town of Gurgaon. They found it tough to imagine a life in a city where several hours of power cut were acceptable, dacoits and thugs were part of society, saline water was thought to be potable and there were rare greens to take a stroll. Maruti, Hero Honda and later several KPOs/ BPOs changed the skyline and profile of Gurgaon which transformed to be a city in itself. So much so that people started calling Gurgaon the millennial city at the turn of the century. Since, then I have lived in different parts of the country but my family decided to make Gurgaon there permanent home. We have seen the city grow from an agglomeration of villages to that of high rises. NCR property markets offer wide avenues to invest in real estate to locals of North India and NRIs. Amongst the large property investment markets, Gurgaon leads the pact. Today Gurgaon sees activity by pan India builders such as Sobha Ltd, Godrej, Tata Housing, Adani and many more. While the home grown firms have also expanded their footprint – DLF, Vatika, Bestech amongst others. Growing city which offers variety of employment is always in need of more infrastructure this is where Gurgaon has always lagged and its been in poor state even now. Things started to improve with announcement of several road projects along side which property builders planned townships of large and small scales. These include the popular Dwarka Expressway, SPR and Extension Road along which apartments are coming up. We cover 5 road projects in Gurgaon which are favoured destinations for property investment in the city –
- Golf Course Road – It isn’t wrong to draw a comparison of Golf Course Road in Gurgaon to Lutyens Delhi. It is a favoured address for rich and famous who chose an address in Gurgaon than in Delhi but enjoy an elite lifestyle. Aralias, Magnolias, Park Place and Belaire are leading properties by DLF here. The one creating a buzz these days is DLF Camellias where by the firm has lifted the price points by huge margins in Gurgaon property market. What works for Golf Course Road is that it is well connected to South Delhi, Gurgaon’s business districts of Cybercity and MG Road and shopping malls such as MGF Metropolitan and Ambience Mall. DLF’s Golf Course attracts international players too and the road thereby lives up to its name. Over time the road has been widened and rapid metro line is being extended up to Sector 55-56 along the Golf Course Road for easing commute. All the well-known office hubs of Golf Course Road are right here, and cyber city is just a 15 minutes drive through the newly built underpasses. Most of the famous schools of Gurgaon are in proximity.
- Golf Course Extension Road – We have always drawn a comparison of Extension Road to South Delhi as it’s a cousin to elite address of Golf Course Road. Golf Course Extension Road is now good to drive on and will see further improvement in infrastructure if and when the metro lines are added here. Real Estate firms such as IREO (with IREO City), Emaar, M3M and Ansals have a presence here. Several new arterial roads have been added which add to catchment areas of this place. The region covers sectors 58 to 67 in Gurgaon. Starting from Ghata village on one end to Badshahpur village on the other. While on one side the Extension Road is flanked by Golf Course Road on the other it is Sohna Road which acts as a boundary. Further one can access Faridabad through Gurgaon Faridabad road and reach Manesar easily once Southern Peripheral Road is ready. Several schools and hospitals are easily accessible from Extension Road.
- Dwarka Expressway (Northern Peripheral Road, NPR) – The 18 kilometer long alternate connectivity between Gurgaon and Delhi (Dwarka) will not only ease movement of traffic on National Highway 8 but also play host to a large urban agglomeration all along this route. The work on this road project is delayed by over half a decade but local government has shown resolve to complete this soon. Estimates vary from 40,000 to 60,000 flats and villas under construction in over 100 projects along this route. The NPR extends from sectors 82 to 115 all of them under development currently. Large real estate townships on this route are Vatika India Next (INXT City) ,Ramprastha City in Sector 37D and Vatika Express City. There are firms such as Godrej, Sobha, Tata amongst others active here. Lot of buyers and investors are awaiting the completion of this project as several thousand crores of investment has taken place in this region. (Read our ongoing coverage on Dwarka Expressway – Click Here)
- Southern Peripheral Road (SPR) – The Southern Peripheral Road will connect Sohna Road and Extension Road to National Highway 8 just before Kherki Daula toll plaza. Sectors under development on this route are 69 to 76. The metro from Extension Road will be extended to National Highway 8 through the SPR. Developers active here are Unitech, Tata, Tulip, AIPL amongst others. SPR because of its locations provides good connectivity to both old and new Gurgaon. One can access various social infrastructure which is already operational along the Sohna Road.
- Sohna Road – This is a very old connectivity between Gurgaon and Sohna town. The Sohna Road connects Rajiv Chowk on National Highway 8 to Golf Course Extension Road and SPR. Further the road leads to Sohna which is coming up as an affordable option for apartments near to Gurgaon. Builders call the Sohna market as South Gurgaon which is 30-40% cheaper to near by markets within Gurgaon in real estate prices. All along the Sohna Road there are apartment complexes by Vatika, JMD, Vipul, Unitech, Central Park, Eldeco, BPTP and others. Several office complexes by JMD, Vatika, Spaze and others flank the road. There is a partly developed SEZ by Ascendas in Sohna. (Click here to read our ongoing coverage on Sohna Road)
While Gurgaon property market remains weak it is anyone’s guess that infrastructure is the back bone of real estate development. With Golf Course Road, Extension Road, Dwarka Expressway, Southern Peripheral Road and Sohna Road offering expansion of the millennial city, these property markets may do well whenever markets find a bottom.