South of Gurgaon – Reasons For Market’s Appeal As Residential Destination

outh of Gurgaon – Reasons For Market’s Appeal As Residential Destination

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.

Defining the skyline of NCR- Gurgaon
Defining the skyline of NCR- Gurgaon

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 Road via 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.

South of Gurgaon - Location and Connectivity
South of Gurgaon- Location and Connectivity

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.

Proposed POD Taxi project in Gurgaon
Proposed POD Taxi project in Gurgaon (Picture courtesy- Dfordelhi.in)

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.

Under construction rapid metro station at Sector-55 Gurgaon
Under construction rapid metro station at Sector-55 Gurgaon

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.

Social Infrastructure:

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.

Westin Resort and Spa- Sohna
Westin Resort and Spa- Sohna in vicinity (Courtesy – Westin Website)

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.

Existing stock in office hubs in Gurgaon
Existing stock in office hubs in Gurgaon

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.

Under-construction Residential projects in South of Gurgaon
Under-construction Residential projects in South of Gurgaon

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.

Affordability pie chart in South of Gurgaon, Cushman Wakefield
Affordability pie chart in South of Gurgaon, Cushman Wakefield

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.

Existing connectivity to South of Gurgaon
Existing connectivity to South of Gurgaon

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.

Coverage in news paper

Data Source – This report has been stitched together through primary research by PropStory and secondary data access of Cushman & Wakefield Study Commissioned By CREDAI NCR

International Land Developers (ILD) – An Ascending Identity

ILD Trade Centre commercial project at Sohna Road, Gurgaon

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

Inside of ILD Trade Centre in Gurgaon

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.

Eldeco Accolade at South of Gurgaon – Delving Into The Designs

Present Site Condition Eldeco Accolade : June 2016

South of Gurgaon is fast emerging as a residential and industrial destination towards the Southern direction of the growing metropolis. Over the years prime Gurgaon city has become a center of attraction for various MNCs, automobile industry, finance ventures and IT/ ITES firms. In recent years several new age start-ups have also made Gurgaon their business hub. This has led to growing employment attracting migrants to the city. This trend has supported widespread growth in demand for residential real estate as well. However many preferred areas of Gurgaon such as the Golf Course Road, Golf Course Extension Road are now out of the reach of an average/ middle-class family. Moreover, the prices having risen so much in this area that a single dwelling unit may cost upwards of Rs. 1.5 cr or so make it unviable even for investors. Not so far from the Golf Course Extension road are the developments on Sohna road, which connects to Gurgaon through a National Highway (NH 248A), which is a signal free corridor. Also, upcoming developments at South of Gurgaon are priced at least 30%-40% lower than properties in central Gurgaon, this affordability serves well for end users in the middle-income segment. Another characteristic of South of Gurgaon is the proximity of a vast green belt and preserved Aravalli Hills in the backdrop, something that bodes well for a calm environment to dwell in. The Haryana Government has plans to develop IMT at Sohna on lines of the IMT Manesar thereby resulting in employment close to housing units. Further several infrastructure initiatives will create interest in South of Gurgaon.

Amongst the early movers to South of Gurgaon is the Eldeco Group. After successfully delivering Eldeco Mansionz on Sohna road Gurgaon and delivering projects over the past several decades Eldeco has made a place for itself in the real estate eco-system of Delhi NCR. Eldeco Accolade, in South of Gurgaon, is the latest addition to their glory. We recently took out time to look at the sample flat at the project site and analyze the overall design architecturally and represent the same graphically.

Eldeco Accolade Proposed View of The Site
Eldeco Accolade Proposed View of The Site
Eldeco Accolade Design Analysis
Eldeco Accolade Design Analysis

LOCATION

Eldeco Accolade is placed directly on the Sohna Road which in turn provides it connectivity to the NH8 and Southern Peripheral Road. The Group Housing holds a location of great importance as it is near the educational and industrial hub which is already observed growing on the Sohna Road.

DESIGN

Eldeco Accolade is proposed on a 13 Acre site with over 40% open areas, the planning is done in a manner that the owners either get the view of Aravalli Hills or the central landscaped greens which has a uniquely designed club house with the green

sample flat Eldeco Accolade
sample flat Eldeco Accolade

grassed roof that merges beautifully into the landscape presenting an unobtrusive view of the central greens. A total of 809 units are divided tastefully into 8 towers with a mixture of G+11, G+13, and G+18 structures, this uneven distribution in tower heights seamlessly merges the township with the Aravalli Hills. The units offered here with respective super built-up are:

  • 2BDR: 1264sqft
  • 2BDR: 1457sqft (with Study)
  • 3BDR: 1751sqft
  • 4BDR: 2122sqft (including a large Servant Room)

    Eldeco Accolade Design Features
    Eldeco Accolade Design Features
Eldeco Accolade Site Sunpath
Eldeco Accolade Site Sunpath

One thing that impressed us here was the even distribution of towers over the site which in turn divides the population density over the township making amenities/ landscapes more functional and open.

Site Model Eldeco Accolade
Site Model Eldeco Accolade
Eldeco Accolade Construction Update - June 2016
Eldeco Accolade Construction

A visit to Eldeco Accolade offers a good avenue to see a fully mobilised site where construction work is continuously going on despite a slowdown in NCR’s property markets.  The very reason why Eldeco has been able to deliver all their past projects.

Read more about Eldeco Group on PropStory

Read more from developer portal

Eldeco Accolade – Discover Modern Living At Aravallis

Eldeco Accolade

The hunt for affordability in residential apartments is forever on for a middle class family in NCR. With the city of Gurgaon witnessing an unprecedented growth in economy and jobs, the need for housing has been on a rise. Prime areas in Gurgaon are now out of reach for an average buyer thus the hunt for quality living in proximity to employment centers has one looking at Sohna as an option. Recently a group of NCR developers branded Sohna as South of Gurgaon, treating it as an extension of the economic power house. Eldeco Accolade situated right on Sohna Road is a reasonably priced residential complex with value-added apartments in the very outset of Gurgaon and is also very well connected through a nifty system of buses and autos.

Eldeco Accolade
Eldeco Accolade Site Office
Eldeco Accolade Entrance (Construction In Full Swing)
Eldeco Accolade Entrance (Construction In Full Swing)

The biggest advantage that Eldeco Accolade has at this point of time is that the Sohna Road is still a relatively under developed stretch of prime real estate. The Sohna Road/South Gurgaon development project is already underway and has attracted a lot of builders to venture in the area. With the entry of builders like Eldeco, even the inflow of customers has started. Eldeco isn’t new to Gurgaon’s residential market, the firm delivered Eldeco MansionZ (in Gurgaon) long back and this project is a landmark in its own regards.

What makes Eldeco strike gold in all of this is its location. Accolade is just 16 kms from the Sohna Road intersection with Golf Course Extension Road and is situated in Sector 2, Sohna Road. Recently Sohna Road was declared as National Highway 248A and offers a signal free connectivity between Badshahpur to Eldeco Accolade project site.

Eldeco Accolade is situated right in front of the Aravalli ranges and gives an unrestricted and unparalleled view of the hills. Moreover, The Accolade is situated just 25-30 minutes away from the Gurgaon Golf Course Road, a really happening place in terms of urban development, and is just 25-30 minutes drive from the bustling commercial centre Rajiv Chowk in Gurgaon.

Several education institutes like the G.D. Goenka World School and K.R. Managalam University are already situated here. In fact these are very close to the Accolade site. Even more education institutes will be added in the vicinity of the project by the end of 2019.

What Does Eldeco Accolade have on offer?

Eldeco Accolade is a 13 acre area of lush greens, great views and 809 apartments in the configuration of 2 or 3 BHK. The towers are organised in a T-shape and close to 2 acres of green area is being left for recreation of residents. The apartments are available in 2 bedroom, 2 bedroom plus study and 3 bedroom plus servant configurations. By the looks of the sample flat, the 3 bedroom plus servant room configuration is a charm. There are 5 clusters of towers divided into 3 blocks with different names. One block is under the name Privilege, which doesn’t face the Aravallis, another block is the section called Acclaim and 2 more tower clusters are in the section called Prestige. Acclaim and Prestige are Aravalli facing.

The apartments in the Eldeco Accolade are available in 4 configurations. The smallest one is a 1,264 sq. feet 2 bhk flat. The second one is a 1,457 sq. feet is a 2 bhk + study configuration. The third one is a 1,751 sq. feet 3 bhk flat and the last one which is also the biggest one, is a 2,122 sq. Feet 3 bhk + 4 washroom + servant room + dressing room. The apartments have 3 payment plans – Subvention Plan, Construction Linked Plan and Possession Linked Plan. The subvention plan is a 36 month payment plan. The CLP is the construction linked payment plan with part payments on completion of different floors. The PLP is the possession linked payment plan in which the buyers have to pay in a ratio 30:40:30 at different milestones. The subvention plan can be availed for a premium of 4% to the base price.

The possession for Eldeco Accolade is due in 2018.

Key features of Eldeco Accolade

  • Apartments ranging from 1,264 – 2,122 sq. Feet
  • Apartments priced at Rs. 4,500 per sq. Feet
  • 2 acres of green area/park
  • School being constructed in the township for residents’ kids
  • Kids’ play area
  • Club facility
  • Commercial complex inside township
  • Common swimming pool
  • Community building
  • Every tower has individual lobby entrance
  • Different sports activities available
  • Golf Cart commute within township
Road in front of Eldeco Accolade project
Road in front of Eldeco Accolade project

Unique Features Of Eldeco Accolade

No two apartments in the Eldeco Accolade township face each other. This helps residents in maintaining their privacy and gives an individual edge to the Accolade over its competitors.

Eldeco Accolade also has a standout feature as compared to other townships coming up in Sohna Road. The club is in the shape of an arc and to take things up a notch, Eldeco is planning to cover the roof of the club house with grass so as to keep the club cool during summers. This will reduce the electricity bills for the residents as air conditioning requirements will be lower. Also, those who seek calm and peaceful environment can look out of their windows and see lush greens instead of urban concrete structures.

Sohna Road towards Gurgaon at Eldeco Acolade
Sohna Road towards Gurgaon at Eldeco Acolade

According to the Sohna Development Plan, 2031, Sohna will see a radical change to its connectivity and urbanisation. While today Sohna offers affordable housing options and that is a big draw here, it is likely that with added infrastructure things can shape up well for this market. What really works well for Eldeco Accolade is its current connectivity which one can drive on to check out the site. And moreover, for apartments starting at Rs.56.60 lacs, customers own property with all modern amenities.

 

 

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.

ILD Arete Sohna : Speedy Construction Will Bring Park Residences To Life

Amongst the new projects in Gurgaon, International Land Developers or ILD recently announced the soft launch of its project ILD GSR Drive at Sohna. Marketing pundits have rechristened Sohna as South Gurgaon and we continue to use both names interchangeably. However few of us will know that ILD Arete Sohna is the first project by the Group at South Gurgaon and it is in fairly advanced stages of construction with excavation of entire site complete and first set of towers now out of the ground. The firm is putting on display its “lead apartment” a show flat within its first tower to provide prospects or its existing buyers a real experience of living at Arete in Sohna’s sector 33.

Tower A at ILD Arete
Tower A at ILD Arete

ILD Arete Sohna has been designed by WOW Architects of Singapore who came up with an approximately 4 acres of central greens surrounded by 8 towers which will host these flats in Sohna. These towers are of varying heights the shortest one being of 20 floors and tallest at 26 floors. The 8 towers are placed opposite to each other in 4-4 combination with tallest one facing the shortest on the other side of the central green. Every apartment in the complex is 2 sides opened with 75% of them fetching a view of the green landscape and only 1 flat on every floor has only a city view. Similarly several apartments will have a view of the Aravalli hills of Sohna which fall in the protected zone. The central greens are replete with themed gardens and ample spaces to sit back and relax. There is a 12,000 square feet two floor club house with glass façade to provide a unique aura to entire project. On top of it there is an infinity pool, basketball court and tennis court for enthusiasts. There is a mega gymnasium and a yoga room for those who burn calories as a hobby!

Excavation work at ILD Arete site
Excavation work at ILD Arete site

Coming to interiors of apartments at ILD Arete Sohna the firm is providing air conditioners and modular kitchen in every apartments. Fittings and accessories will be of premium quality. While there are vitrified tiles in living and dining, the bed rooms will have wooden flooring. There are running balconies in various flats i.e. two rooms connected to single balcony which gives a feeling of more space. A 2BHK flat is of 1,275 square ft, 2BHK+Study is 1,325 square ft, 3BHK+Study is 1,765 square ft, 3BHK is 1,785 square ft and largest 3BHK is of 1,998 square ft. The apartments are priced at about Rs. 4,600 per square ft. of base price while these were launched at about Rs. 3,900 per square ft. almost 20 months back. Construction contractor JJRS is a renowned firm of Gurgaon having engaged with DLF across several of their projects. The set of first four towers are now at sixth floor slab. The site abuts the NH 248 which is runs from Gurgaon to Sohna and will see expansion work in coming years. Sohna benefits from proximity to Gurgaon and current connectivity through a highway which is signal free till Golf Course Extension road turn after Badshahpur. People who can’t afford residences at Extension Road or Sohna Road in Gurgaon can think of owning properties in South Gurgaon for its affordability, accessibility and abundance of greenery in surroundings. On a like to like basis properties in South Gurgaon are about 30% cheaper to those in closest destinations in Gurgaon.

ILD has delivered 1 million square ft. of office cum retail near Subhash Chowk in Gurgaon. This complex is called ILD Trade Center. Its first residential project ILD Greens (Sector 37C) will witness handing over in 2016. The firm has more projects under its expansion plans however it will be important to see handing over in projects at Sector 37C, Gurgaon as well as progress at ILD Arete Sohna, by far the most advanced project amongst the builders in South Gurgaon campaign.