- www.99acres.com
- Friday, 09 May 2014
- Quotation in Article
- Gurgaon scores high in Delhi-NCR, 30 localities rise by more than 100% in 4 Years
- Written by Neha Pathania Kashyap
Text is being reproduced below -
One of the most expensive places to stay in the country, Gurgaon is turning out to be an investor’s paradise as well. Property prices of as many as 30 sectors of Gurgaon have risen by more than 100 per cent in the last four years.This beats the rest of Delhi-National Capital Region including South Delhi, Noida, Faridabad and Ghaziabad that are also high on the ROI index.
99acres.com shares details of these 30 high performing sectors along with insights into the factors that have contributed to their phenomenal growth in a two part series.
The first part covers prominent clusters of DLF societies, Golf Course Road and Golf Course Extension Road, Sectors 42-57 and Sushant Lok (see map here). The second part looks at IMT Manesar, Palam Vihar, Sectors 65-92, Sector 106 and Southern Peripheral Road.
The following table summarizes the top movers and shakers:
DLF societies
There has been a consistent rise in DLF societies including DLF City, DLF City Phase-II, DLF City Phase-III and DLF City-Phase V. Of these, DLF City and DLF City Phase II have witnessed a 108 and 105 per cent rise in capital values respectively in Q4 2014 compared to Q4 2010 (refer to table above).
Price Trend for Apartment in DLF CITY, Gurgaon
Price appreciation can be attributed to better infrastructure and recreational options for residents as compared to other parts of Gurgaon. This pocket boasts of several top residential apartments such as Regency Park I, Hamilton Court Complex and The Aralias that offer high end living in addition to famous eateries at Galleria market and DLF Club as well. These societies are mostly inhabited by expatriates who prefer this area for its road infrastructure, independent home layout and nightlife culture. To sweeten the deal, the nearby metro is extending all the way to Sector 56, says Rajan Kumar Hans, Founding Director of Prop Windows Infratech Pvt Ltd.
Golf Course Road and Golf Course Extension Road
Golf Course Road (GC Road) serves as the jugular vein of Gurgaon. The DLF redevelopment plan intends to make Golf Course Road one of the best roads in India, with plans to link Cyber City to this road via a 16-lane corridor. This will ease the vehicular traffic on this stretch.
Home to about 40-50 residential projects, GC Road is also a corporate hub with companies such as Ernst & Young, Hewitt, Samsung having branches here. Golf Course Road has witnessed an increase of 103 per cent in the latest quarter of January-March 2014 compared to the same quarter in 2010.
Sun City, an old housing development is riding on the success of Golf Course Road and is the only plotted development on this stretch amidst tall towers. It has witnessed a 104 per cent increase in Q4 2014 compared to Q2 2009.
Golf Course Extension Road (GCER) is considered the southern part of Gurgaon. It has seen a 101 per cent rise in residential values in Q4 2014 compared to Q4 2010. Bharat Kalra of Buniyad Group says that the last stop of rapid metro would be at the beginning of GCER.
The locality is offering the right combination of residential and commercial development. Some of the reputed residential projects here include Ansal API’s Esencia, M3M’s Golf Estate, Pioneer Group’s Pioneer Park, Central Park, Emaar MGF’s Emerald Hills, Tata Housing’s Raisina and IREO’s Grand Arch. Prominent commercial projects here are Global Business Foyer, Paras Twin Towers, Suncity Business Park and Ninex Time Tower.
Gurgaon, Sectors 42 to 57
Located between HUDA City Center metro station and Sohna Road, these HUDA sectors primarily consist of group housing societies and plotted developments, the latter forming almost 70-80 per cent of the area.
Sector 42 and Sector 54 are the top performers in this stretch, witnessing a rise of 138 and 123 per cent in residential values respectively, in the latest quarter of 2014 compared to Q4 2010.
The primary reason for an increase in values here is the availability of land. While earlier, HUDA plots were available here at modest rates, now values have reached peak levels of about Rs 20,000 per sq ft or more, says Kalra.
DLF societies
There has been a consistent rise in DLF societies including DLF City, DLF City Phase-II, DLF City Phase-III and DLF City-Phase V. Of these, DLF City and DLF City Phase II have witnessed a 108 and 105 per cent rise in capital values respectively in Q4 2014 compared to Q4 2010 (refer to table above).
Price Trend for Apartment in DLF CITY, Gurgaon
Price appreciation can be attributed to better infrastructure and recreational options for residents as compared to other parts of Gurgaon. This pocket boasts of several top residential apartments such as Regency Park I, Hamilton Court Complex and The Aralias that offer high end living in addition to famous eateries at Galleria market and DLF Club as well. These societies are mostly inhabited by expatriates who prefer this area for its road infrastructure, independent home layout and nightlife culture. To sweeten the deal, the nearby metro is extending all the way to Sector 56, says Rajan Kumar Hans, Founding Director of Prop Windows Infratech Pvt Ltd.
Golf Course Road and Golf Course Extension Road
Golf Course Road (GC Road) serves as the jugular vein of Gurgaon. The DLF redevelopment plan intends to make Golf Course Road one of the best roads in India, with plans to link Cyber City to this road via a 16-lane corridor. This will ease the vehicular traffic on this stretch.
Home to about 40-50 residential projects, GC Road is also a corporate hub with companies such as Ernst & Young, Hewitt, Samsung having branches here. Golf Course Road has witnessed an increase of 103 per cent in the latest quarter of January-March 2014 compared to the same quarter in 2010.
Sun City, an old housing development is riding on the success of Golf Course Road and is the only plotted development on this stretch amidst tall towers. It has witnessed a 104 per cent increase in Q4 2014 compared to Q2 2009.
Golf Course Extension Road (GCER) is considered the southern part of Gurgaon. It has seen a 101 per cent rise in residential values in Q4 2014 compared to Q4 2010. Bharat Kalra of Buniyad Group says that the last stop of rapid metro would be at the beginning of GCER.
The locality is offering the right combination of residential and commercial development. Some of the reputed residential projects here include Ansal API’s Esencia, M3M’s Golf Estate, Pioneer Group’s Pioneer Park, Central Park, Emaar MGF’s Emerald Hills, Tata Housing’s Raisina and IREO’s Grand Arch. Prominent commercial projects here are Global Business Foyer, Paras Twin Towers, Suncity Business Park and Ninex Time Tower.
Gurgaon, Sectors 42 to 57
Located between HUDA City Center metro station and Sohna Road, these HUDA sectors primarily consist of group housing societies and plotted developments, the latter forming almost 70-80 per cent of the area.
Sector 42 and Sector 54 are the top performers in this stretch, witnessing a rise of 138 and 123 per cent in residential values respectively, in the latest quarter of 2014 compared to Q4 2010.
The primary reason for an increase in values here is the availability of land. While earlier, HUDA plots were available here at modest rates, now values have reached peak levels of about Rs 20,000 per sq ft or more, says Kalra.
Other primary reasons for a spike in prices in these sectors are:
a) Proximity to metro
b) Setting up of social amenities such as hospitals and schools
c) Forms the central point of Gurgaon
d) Accessible from NH-8 highway and Sohna Road
a) Proximity to metro
b) Setting up of social amenities such as hospitals and schools
c) Forms the central point of Gurgaon
d) Accessible from NH-8 highway and Sohna Road
People who want to invest in land and not apartments are all flocking here, leading to high demand and steep price rise.
Price Trend for Apartment in Sector-42 Gurgaon
Nirvana Country, located in Sector 50 has seen a spike of 108 per cent in values in Q4 2014 compared to Q1 2010. This project by Unitech can be accessed from Sohna Road and Golf Course Road. Nirvana Country is akin to an island as it is cut off from the city. People invested for end use are mostly retired individuals who have accrued large chunks of money, points out Rajan Kumar Hans.
Societies, thriving on the success sectors 42-57 are Park View City, Vatika City and Rosewood.
Vatika City has seen an increase of 134 per cent in Q4 2014 compared to Q4 2010. This price appreciation is accessible from Sohna Road, Southern Peripheral Road and Golf Course Ext Road and hence is being impacted directly by the growth here. There is major commercial activity in the neighbourhood with Bestech commercial plaza (already given possession), JMD Megapolis and an IT space park under way.
Park View City, opposite Vatika City is situated on Sohna Road and has seen an increase of 112 per cent in the latest quarter of 2014 compared to Q4 2010 again.
Rosewood, owned by Eros Group, offers high end plotted development and is preferred by people who want to own large houses. It is located in Sector 42 has seen a rise of 101 per cent in Q4 2014 compared to Q4 2010.
Sushant Lok & Sushant Lok I
The primary benefit for these two localities has been their proximity to Huda City Center metro station. Sushant Lok has seen an increase of 103 per cent and Sushant Lok I witnessed a rise of 108 per cent in Q4 2014 compared to Q4 2010.
Despite facing a lack of road infrastructure, both Sushant Lok and Sushant Lok I boast of several premium residential apartments, primary schools, shopping complexes and hospitals in the vicinity, says Bharat Kalra. Fortis and Max Hospital are nearby.
Being situated opposite Sector 44 is another benefit for this sectors.
Disclaimer :- Sole copyright of the article lies with 99acres.com only.
Nirvana Country, located in Sector 50 has seen a spike of 108 per cent in values in Q4 2014 compared to Q1 2010. This project by Unitech can be accessed from Sohna Road and Golf Course Road. Nirvana Country is akin to an island as it is cut off from the city. People invested for end use are mostly retired individuals who have accrued large chunks of money, points out Rajan Kumar Hans.
Societies, thriving on the success sectors 42-57 are Park View City, Vatika City and Rosewood.
Vatika City has seen an increase of 134 per cent in Q4 2014 compared to Q4 2010. This price appreciation is accessible from Sohna Road, Southern Peripheral Road and Golf Course Ext Road and hence is being impacted directly by the growth here. There is major commercial activity in the neighbourhood with Bestech commercial plaza (already given possession), JMD Megapolis and an IT space park under way.
Park View City, opposite Vatika City is situated on Sohna Road and has seen an increase of 112 per cent in the latest quarter of 2014 compared to Q4 2010 again.
Rosewood, owned by Eros Group, offers high end plotted development and is preferred by people who want to own large houses. It is located in Sector 42 has seen a rise of 101 per cent in Q4 2014 compared to Q4 2010.
Sushant Lok & Sushant Lok I
The primary benefit for these two localities has been their proximity to Huda City Center metro station. Sushant Lok has seen an increase of 103 per cent and Sushant Lok I witnessed a rise of 108 per cent in Q4 2014 compared to Q4 2010.
Despite facing a lack of road infrastructure, both Sushant Lok and Sushant Lok I boast of several premium residential apartments, primary schools, shopping complexes and hospitals in the vicinity, says Bharat Kalra. Fortis and Max Hospital are nearby.
Being situated opposite Sector 44 is another benefit for this sectors.
Disclaimer :- Sole copyright of the article lies with 99acres.com only.
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