A number of developers have started rolling out residential projects in Manesar,which has so far been an industrial hub.
Manesar is strategically located on the intersection of NH-8 and the forthcoming Kundli-Manesar-Palwal (KMP) expressway.
An area once considered a village,Manesar has undergone a paradigm shift from being a backward area to a commercial and industrial centre,especially after the development of the Industrial Model Township-Manesar.
The manufacturing plants of Maruti and Honda have also led to a rise in job opportunities in the periphery of Manesar.
Recognizing the potential of Manesar real estate,many IT companies like Spire Edge,HCL,Bharti Airtel,Cyber Walk,Anantraj Technology Park,Surbos,among others,have set up operations in the vicinity.
Praveen Mohala of North East Lands says that the presence of auto industries and corporate headquarters has led various developers to come up with residential townships in the vicinity.
Rohit Sharma of Gurgaon Propmart says: The real estate market in Manesar has been growing rapidly ever since MNCs have stepped in.As a result,the price and the demand of properties has increased. According to MagicBricks data,the average rate for a multistorey apartment here is nearly Rs 3,500 per sq ft.
Some of the popular townships here are Park View,Uppal,and DLF Township.The prominent builders in Manesar include Unitech,Eros Group,Landmark Developers and DLF Ltd.Some real estate projects under construction here are Karma Lakelands,Vatika Township and Golden Heights,which offer bungalows,houses and multistorey apartments.
Manoj Goyal,senior vice-president of Raheja Developers Ltd,says: First,there are at least 50-60 logistics and industrial projects,in the Bilaspur- KMP stretch.The place is a hub for logistics.Second,the Haryana government is coming up with one of the largest convention centres and a transport logistics center here.So,this is a good time to invest there.Any place connecting to the NH-8 is worth investing,but,with a time horizon of at least three-four years.There will be
good returns.
Santhosh Kumar,the CEO (operations ) of Jones Lang LaSalle,India,says that this stretch called New Gurgaon is the closest in terms of proximity to Dwarka and West Delhi once the Dwarka Expressway is operational.Also,the location is close to the international airport.The remainder of the stretch towards Manesar will also see improved connectivity going forward.
Most of the apartments here are multistorey or row apartments.Villas have also come up in the area.
Amenities like ATMs,medical shops,hospitals,malls,and entertainment hubs are also in the vicinity.Manesar is listed as a top prospective investment locations in India.
However,the residential property in Manesar is still under shell,while commercial property in Manesar offers state-of-the-art office spaces.Sector 1,in Manesar,has been developed as a residential sector by HSIIDC.It has more than 550 individual residential plots and 50 grouphousing plots.
Vivek Seth,the MD of V Square Development Co Pvt Ltd,says that the forthcoming sectors of Gurgaon,particularly residential Sectors 102 and 103,located in proximity to the proposed SEZ area as per the Gurgaon-Manesar Master Plan 2021,will be hot property in the near future.
All the infrastructural issues like bad connectivity,shortage of power,lack of green areas and parks,low water levels,etc,which are a bane in most of the sectors,will be resolved.
Therefore,investment in real estate in these sectors is very lucrative and,perhaps,give back handsome returns when compared to any other sector in Gurgaon.
