- www.99acres.com
- Tuesday, 20 May 2014
- Quotation in Article
- Gurgaon sectors show record growth in Delhi NCR in 4 years
- Written by Neha Pathania Kashyap
Text is being reproduced below -
Metro connectivity, new residential projects and road infrastructure has been driving the growth story in certain pockets of Gurgaon. These localities include IMT Manesar, Palam Vihar, and Sectors 69 to 92, Southern Peripheral Road and Sector 106.
Gurgaon real estate market has proved to be the front runner amongst Delhi-National Capital Region, as pointed out earlier in a separate story.
Several factors such as plethora of new launches by developers, reconstruction of roads, improved connectivity, increased demand and reduced supply are attributing to the development of these sectors.
The table below highlights the top movers and shakers in these areas.
IMT, Manesar
This locality has witnessed a phenomenal increase in residential values by 142 per cent in the latest quarter of 2014 compared to Q4 2010.
The reason behind this increase is that this area boasts of major residential projects by DLF, ABW Group, Anant Raj and HUDA Group Housing societies. Among other sectors in Manesar, this is one of the prime areas where ready-to-move projects are available.
“The demand here is less as compared to supply and the majority of investors here are industrialists who are travelling daily from Delhi for work,” says Rajan Kumar Hans, Founding Director of Prop Windows Infratech Pvt Ltd.
Palam Vihar
Palam Vihar has witnessed an increase of 133 per cent in Q4 2014 compared to Q4 2010. Palam Vihar, part of Old Gurgaon had very low base rates, in the range of Rs 3,000 per sq ft in the beginning and the rise in values is parallel with the overall growth in Gurgaon.
The locality’s connectivity with both, Delhi and Jaipur, the metro line availability and improved infrastructure have contributed to the growth of Palam Vihar. Also, proximity to Sector 105 and Sector 109 are catalysts in fueling growth here.
Sectors 69 to 92
Geographically, Sectors 69 to 92 are located at the starting of three different points – Golf Course Extension Road, Sohna Road and NH8.
A lot of investors have been investing in this stretch of Gurgaon as there is a high resale scope here. The investor is buying and selling to end users who want to have an abode in Gurgaon. A fresh user coming to Gurgaon is able to afford a property here.
Forming part of New Gurgaon, these sectors have become the top destinations for investment owing to new projects under construction by reputed developers such as DLF, Unitech, Tata Housing, Godrej, Raheja Developers, Bestech and Supertech.
The top gainers on this stretch are Sector 92 and Sector 71, having seen a rise of 151 and 135 per cent respectively in Q4 2014 compared to Q4 2010.
Connectivity with neighbouring areas of Gurgaon, proximity to the IGI airport, and improved road infrastructure are some other factors, according to Bharat Kalra of Buniyad Group.
Sector 106, which falls on Dwarka Expressway has witnessed a whopping 121 per cent increase in the latest quarter compared to Q4 2010.
Reason behind this increase is that several projects such as CHD Golf Avenue and Paras Dew are offering possession soon.
Southern Peripheral Road
Another stretch which is witnessing marked increase in residential values is Southern Peripheral Road which starts from Vatika City. It is the convergence point between Sohna Road and Golf Course Extension Road.
This stretch has seen an increase of 105 per cent in Q4 2014 compared to Q4 2010.
Land here is being developed by Unitech and on the right side of the road, DLF is constructing Cyber City II. A commercial tower has already been constructed here by DLF. “About 30-40 per cent area here is being developed as commercial area and the rest is coming up as residential area,” says Rajan Hans.
Developers such as Tulip, BPTP, Unitech and Tata Housing have already seen construction of few projects and are nearing completion. Connectivity to Delhi and Jaipur is also a key factor attributing to the growth of this area.
Valley View Estate, a locality that is out of Gurgaon and falls on Faridabad Road, is home to many new developers hosting their projects here. These include Krrish Builders, Paras and IREO Group. A 1BHK here is available in the starting range of Rs 55 lakh, points out Rajan Hans.
Falling under the Gwal Pahari area, this locality used to be an agricultural zone. Now, the area has been de-notified by the government, which has opened up the real estate market here to several private developers.
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