5 Roads In Gurgaon Which Are Favoured Property Markets

Dwarka Expressway At Sector 102

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 –

(Read about Gurgaon Real Estate)

  1. 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.
  1. 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.

    IREO Grand Arch, Sector 59
    IREO Grand Arch, Sector 59
  1. 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)

    Dwarka Expressway Near Sector 99
    Dwarka Expressway Near Sector 99
  1. 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. 
  1. 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.

Gurgaon – In Search Of Method To The Madness

You can love it, you can hate it but you can never ignore it. Gurgaon, one city that has it all- the good, the bad, the unpleasant and the awesome. The city is a tangle of crowded streets, diverse languages and beautiful architecture. However there is a lot more to it than what meets the eye. Over the years, influx of large number of migrants into Gurgaon who come here searching for better opportunities has changed the demography, economy and make of the city.

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Gurgaon, a gamut of high rise condominiums, glass facades and malls accompanied by a civic infrastructure in shambles. Workaholics paradise, Gurgaon is home to several Fortune 500 firms.. This is the first impression when one thinks about the city. However there’s more to Gurgaon than meets the eye. Today this is a place for neo-rich. We try to list down reasons why Gurgaon is preferred center nowadays –

Economic Growth

The emergence of Gurgaon is a tale of romance between development and prosperity in itself. The story of the city’s economic growth started with the setting up of manufacturing plant of Maruti Suzuki in late 1970’s. Before Maruti Suzuki, Gurgaon was nothing but a village unknown to the national capital. But post Suzuki’s arrival followed by globalization after 1991 economic renaissance, Gurgaon became a force to reckon in terms of industries and property markets. 

Employment Opportunities

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, because of its proximity to the national capital Delhi, several Fortune 500 firms opened their offices here, employing thousands of high-income professionals. And as Delhi was already overcrowded, these people tend to buy apartmentss in Gurgaon itself. The well developed sectors developed by DLF and the Golf Course Road are almost fully occupied. Over time the rise in property values in Gurgaon has made it unaffordable for several middle income professionals. This has led to emergence of new areas such as Sohna or South of Gurgaon and Dwarka Expressway.

Education institutions

Gurgaon’s public school system, managed by the Haryana government, is administered by Haryana Board of School Education. The city is home to large number of private schools, where education is often expensive and the quality better than the government schools. Schools like The Shri Ram School-Aravali (DLF City Phase 4), The Heritage School (Sector 62) and DAV Public School Sector 14 are among the top 10 schools in the city. There are several universities and institutes located in Gurgaon and its nearby areas, that form a part of Gurgaon district including Ansal Institute of Technology; ITM University, Sector 23 A; GD Goenka University, South Gurgaon; Amity university, Manesar; KR Mangalam university, South Gurgaon; Apeejay Stya university, Sohna; BMC Munjal university, NH8; Shree Guru Gobind Singh Tricentenary university, Budhera. Gurgaon is also home to one of India’s top ranked business school, Management Development Institute.

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Connectivity to Airport

Gurgaon is served by Indira Gandhi International Airport, though the airport is just outside the city limits and located within the jurisdiction of Delhi near National Highway 8. The airport is one of the busiest airports in India and provides domestic and international air connectivity. Proximity to the airport was a boon to Gurgaon as it started serving clients from domestic and international markets. In fact it stays the prime reason for corporate’s affinity to Gurgaon than to Noida. This is also the reason that Gurgaon property market was favoured a lot by investors. 

Comparison with Delhi

There has been a sudden influx of people in Gurgaon in the past 10-15 years leading to a property boom and since it is being called the Millennium City of India, the cost of basic living is relatively higher than in Delhi. Gurgaon holds the distinction of being more expensive than Delhi but then again it depends on what area of Delhi is being compared to. As Delhi prime became densely populated the expanding families there chose Gurgaon as a place to settle. Delhi expanded southwards into Gurgaon and today it is such a scenario that Gurgaon is expanding southwards into Dwarka Expressway and Sohna aka South Gurgaon.

 

Gurgaon – A City Deriving Recreation At Umpteen Malls

After a long wait Gurgaon got its first mall-cum-multiplex on MG Road. Movie buffs in old Gurgaon, who had to endure pain of going to a multiplex in new Gurgaon for catching the latest blockbuster, now have a reason to cheer. Almost a decade after Gurgaon got its first mall, the old city got its multi-level shopping complex, Gurgaon Dreamz. It is a shopping mall near the sector 4 -7 and houses a multiplex. The complex is built on a plot that belonged to Jai Cinema, an entertainment hub for over three decades before the multiplexes took over single screen theaters.

Shopping malls in Gurgaon are driven by the retail sector in India. The sector which was dominated by small and unorganized entrepreneurs consisting of standalone stores, boutiques and kirana stores, is radically changing its face. There has been a massive development of new retail formats such as malls, hypermarkets, supermarkets and lifestyle stores.

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Today there are over 50 shopping malls in Gurgaon. Notable amongst them are Ambience Mall (near the Gurgaon-Delhi toll plaza), Sahara Mall, Metropolitan Mall, City Center Mall, The Metropolis and the Plaza Mall (all on the Mehrauli Gurgaon road, also known as the “Mall Road of Gurgaon”), Celebrations Mall (near Sohna Road). There is a mall in Sushant Lok 1 that is focused exclusively on jewellery and is aptly called “Gold Souk”. Star Mall (on NH-8 near 32nd milestone) and Omaxe Mall (Sohna road) are also pulling crowds. These are just a few that I can name without referring the internet.

Most of the shopping malls in Gurgaon are multifarious with much more to offer than just shopping. Out here, you can entertain yourself by watching movies in multiplexes, by playing games at gaming arcades, or by treating yourself to some sumptuous food at various restaurants and food courts. For shopping options you can indulge in anchor stores of various national and international brands or even specialty stores for clothes, accessories, footwear, home needs, books. All you need to do is think about your wants and Gurgaon malls have them all for locals and expats alike.

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But here’s the story of these buzzing malls. You will find same brands shops in every mall. And many malls are not even properly maintained like the one in sector 4-7, Gurgaon Dreamz. The mall doesn’t even have a proper parking space. Gurgaon Dreamz mall is address to – Spencers, 1-dollar store, Samsung Cafe, Woodland Creations, Inox 3 Screen Multiplex with Amphitheater and food court. Yet even the experience of parking cars can be a nightmare here. It is only Inox the multiplex that drives the business here. Isnt it same story in every Indian mall today?

Foreseeing a tremendous potential in consumerism, more of Gurgaon shopping malls developers are on the war footing to cater to smallest of the needs of shoppers. Whether it is a prerequisite of high-end brands or the pressing need of theme specific products, Gurgaon shopping malls are becoming a perfect destination for people with all budgets. If this development remains steadily on track for the next few years, the entire retail activity will go through a change in coming years..

Gurgaon with its shopping malls is already being seen as a major shopping district in the NCR region. But one thing that is concerning is that Gurgaon is short of recreational places, even though the city has got developed very fast the residents find a visit to a mall as easiest way to entertain themselves and their families. Till when can the window shopping or food courts keep them amused?

 

 

How Gurgaon Emerged Onto The Global Map

While there are lots of reasons that can be attributed to emergence of Gurgaon as a new economic center in India; we believe that the following reasons were really instrumental in transforming a sleepy Haryana town to its current form –

1. Maruti Suzuki, Hero Honda and their ancillaries
2. General economic growth in India, directly impacting New Delhi. Paucity of growth in Delhi the surplus migration and industry located to Gurgaon
3. Quality business centers offered by DLF, Unitech and Ansals much before 2004 when things really started to accelerate
4. Proximity to the Delhi’s International Airport
5. Preference of Haryana address over Uttar Pradesh addresses (noida, ghaziabad)

Continue reading “How Gurgaon Emerged Onto The Global Map”

The Benefits Of Living In Townships

Townships are the way forward

Sticking to our earlier theme that not everything is bad in real estate.

We believe large townships, over 100 acres, will help address the various needs of consumers and developers alike. The pre 2008 frenzy to acquire large tracts of lands fizzled out after the Lehman crisis because of capital constraints. It hurt the development plans of several such townships which were planned as there was little capital to execute such massive projects. Continue reading “The Benefits Of Living In Townships”