IMT Manesar is well connected to Delhi and close to the Indira Gandhi International Airport;this alone makes it a prime location for major investment and real estate development.
IMT (Industrial Model Township) Manesar on NH-8 (Delhi-Jaipur highway) is projected to have a shortfall of nearly 5 lakh housing units over the next four-five years.However,as the availability of authorized housing will only be around 62,500 units in the same period,price escalation of property here is bound to be steep.This area has attracted a vast population and is booming as an investment destination.
Manesar is set to become a vibrant commercial hub soon with new infrastructure projects taking shape by the day.The NH-8 is being widened to an eight-lane expressway,between Gurgaon and New Delhi;several flyovers have been planned on this stretch,which would eliminate all red lights and make the road to Delhi non stop.Other attractions of this place are that all land here is freehold,there is a multi-functional HSIDC complex,roads are wide with parking space and other utilities - thus,the location has become a perfect place for realty action.
Navin M Raheja,the managing director of Raheja Group,says: "Manesar,a lucrative destination near Gurgaon,is no more a place from where people used to come for jobs and stay in Delhi.Now,the place is in itself turning out to be a place where people from Delhi can stay.It was supposed to be developed jointly by the Haryana government and a Japanese firm before being acquired by HSIDC in 1997.The IMT is divided into four phases: in Phase I,HSIDC developed 1,750 acres of land,while development of Phase II and Phase IV are in progress.HSIDC has allotted around 600 acres in Phase III to Maruti Udyog Limited for their expansion project."
Raheja Group has launched Navodaya in Sector 92/95 adjacent to IMT Manesar.Navodaya is right adjacent to Manesar and the project is aimed at providing international quality housing to the residents of Delhi NCR,including the executives of IMT Manesar and the peripheral industrial areas of Gurgaon and some SEZs.It is a highpotential area for residential and investment purpose as there is really no authorized housing facility available to the over two lakh executives at IMT Manesar."At Navodaya,there will be a clubhouse with gymnasium,swimming pool,tennis and badminton courts,24x7 power backup in apartments,high-tech security systems,primary schools,food court and restaurants,a commercial centre,medical facilities and landscaped lawns.Only 20% of the total area will be covered while 80% will be open greens,
Anil Sharma,the chairman and managing director of Amrapali Group,says: Manesar is developing as an integrated self-contained industrial park and is a perfect choice for trade towers,corporate offices,industrial units,IT parks and shopping malls.
Green belts have been laid on both sides of NH-8 making the area more environment-friendly.A flyover on NH-8 links the residential zone with the industrial zone and makes the city that much more attractive for residents. The group has already launched a commercial-cum-corporate hub on 6,804 sq metres in Sector 2,IMT Manesar,opposite Honda factory.
Rahul Gaur,the managing director of BRYS Group,says: "IMT Manesar is well connected to Delhi and close to the Indira Gandhi International Airport;this alone makes it a prime location for major investment and real estate development.We have seen rapid development here and the area is emerging as one of the biggest corporate hubs of northern India."
Rakesh Yadav,the managing director of Antriksh Group,says: "Developers coming up with structures at Manesar hold the advantage of proximity to the city centre,coupled with facilities like health clubs,restaurants,hospitals,schools,shopping malls,etc. In the vicinity.Manesar is a budding city that is presently still developing and has a tremendous opportunity to grow as an industrial hub.And,with the increasing competition in the real estate sector,the stampede to built Manesar into a swanky city is on."
Officials of the Haryana State Industrial Development Corporation (HSIDC) say that the area of the open spaces has been increased.There is a 12km-ong green belt traversing Manesar-Gurgaon boundary.HSIDC has a dedicated power station of 220kV and four substations of 66kV to cater to the needs of both the industrial and residential areas.Apart from the vast industrial base,institutionally also,Manesar is being developed.The area has also a resort,a heritage village,the NSG base and the National Brain Research Centre,which attract both MNCs and the general public.
HSIDC sources claimed that an SEZ (Special Economic Zone) is going to come up near NH-8 in Gurgaon, which would be set up by the Reliance Industries Ltd and others developers on 25,000 acres,and would extend to the proposed Kundli-Manesar-Palwal expressway.Raheja Group is also coming up with an SEZ project on 500 acres.Navin Raheja says: "The pact calls for a new holding company - Reliance Haryana SEZ Ltd - which will be set up to commission the project that will facilitate 100% foreign investments with special tax rebates,cargo airport and a Metro link to New Delhi.The SEZ will also have an entertainment centre and a golf course."
