Gurgaon Reigns In Real Estate Market

From being just a suburb on the outskirts of Delhi to the miraculous ‘Millennium City’ , Gurgaon is today regarded as a city of opportunities and real estate investments in India. Gurgaon houses a large number of Fortune 500 companies, making it a financial, outsourcing and commercial hub. This exponential growth in its commercial and industrial profile has led to an ever increasing demand for world standard housing, gated communities and apartment complexes, cutting across all segments of income level. 

The burgeoning demand and the robust nature of development, especially residential, have fueled the need for a dynamic exercise on its master plan. The Gurgaon Master Plan-2021, unveiled by the government in 2007, was a step in that direction. 

The major infrastructural projects unveiled in the master plan were the Southern Peripheral Road (SPR) and the Northern Peripheral Road (NPR); the focus of the master plan is on the development of new sectors, which are collectively labelled as New Gurgaon today. With locations like Golf Course Road and the MG Road getting saturated, developers are now focusing their attention on the next big destination in Gurgaon, the Southern Peripheral Road.

Under the new Gurgaon-Manesar Master Plan 2021, the availability of land for development and avenues for new growth corridors has opened up.

The new master plan allocates 14,930 hectares of land for residential use; this is good enough for over 58 new sectors. Most of the new developments are taking place in these sectors.

Records show that 35% of the proposed residential land is under the process of licensing. The major new growth corridors in Gurgaon include the extended Golf Course Road, Sohna Road, Pataudi Road, Manesar, and Jaipur Highway, complemented by a concentrated growth in Bhiwadi and Dharuhera. The sectors of New Gurgaon like 37, 37D, 80, 81, 82, 85, 86, 90, 92, 93, 95, and 99 around the NH-8 are registering a tremendous response. Developers like DLF, Unitech, MGF EMAAR, Chintels, Ansal, Orris, Antriksh, Assotech, Raheja Developers, CHD, etc, have major projects that are riding the real estate market.

The Southern Peripheral Road is a 150-meter-wide road, which will connect Golf Course Extension Road with NH-8, and also has a proposed Metro connectivity in the pipeline. It is expected to decongest central Gurgaon and boost connectivity with Delhi. It is also close to the established residential, retail and commercial developments on Sohna Road. The advantage of its rapid connectivity to the rest of the city is the main reason for the rapid price appreciation in this part of Gurgaon. It is also regarded as the next high-potential destination for realty investment.

There is a surge in quality living spaces along the SPR with projects like South Park and Nirvana Country 2 by Unitech. South Park has spacious 2- and 3BHK apartments set a midst serene environs. Modern design and world-class facilities makes it one of the most desirable places to stay. The apartment prices start from Rs 79 lakh. Nirvana Country 2 is an integrated 100 acre township with a combination of villas, plots and apartments.

With modern-living options and excellent connectivity, SPR is all set to become the next big realty destination in Gurgaon.

At the same time, the area is getting huge impetus with Sohna Road emerging as one of the fastest growing stretches in the real estate sector in Gurgaon. The place is being mentioned as the city’s next big site for commercial and residential developments in the next few years, as some of the biggest names in the real estate business have begun their projects in this part of the millennium city.

Some top national and international names in the real estate business have brought projects to the area, like Unitech’s Unitech Harmony, CHD Developers’ Avenue 71, Raheja’s Aranya City, Omaxe’s wedding mall, Vipul Group’s Vipul Greens, Shantikunj opposite Maruti Kunj, Today Homes’s Today Royal Elegancia, Spaze Privy AT4, Eros Group’s Wembley Estate, Jasmine Tower, etc.

Unitech’s Unitech Harmony is in Sector 50 in Nirvana Country offers 2-, 3-and 4BHK apartments ranging between 1,724 sq ft and 3,331 sq ft. The project is over 10 acres with more than 400 houses and comes with a swimming pool, a kids’ pool, a well-equipped gymnasium, squash courts, and power backup system. Harmony has been designed by Mani Chowfla Architects.

Unitech has another housing project, South Park, in Sector 70 alongside Gurgaon-Sohna Road. South Park offers nice accommodation options with fully airconditioned 2- and 3BHK apartments. The ground-plus-14-storey building overlooks a sprawling green landscape and natural surroundings.

Source-TOI

Alok Kumar Upadhayay

Real Estate Professional 

CRE Solutions