A large number of projects under construction,improved infrastructure,and the Metro connectivity in Gurgaon have driven prices up in Dwarka Expressway,Golf Course Extension Road and Sohna Road.
The capital investments in locations like Dwarka Expressway,Golf Course Extension Road and Sohna Road has brought about a rise in land values in Gurgaon.
The primary reasons that can be attributed to the rise in values are the forthcoming projects by developers,improvement in infrastructure,and the Metro connectivity.Local realtors believe that values will go up further after road connectivity between the growth corridors improves and the Metro route is expanded further.
Rakesh Kathuria of Kathuria Properties says that the realty market in Gurgaon is bound to see a further rise in prices of land considering the development that is planned in the coming time.Developers like DLF,Raheja,Uppal Group,Unitech,Spire Edge,Ansal and Tata Group are coming up with new projects in different parts of Gurgaon providing a range of options to buyers.
Ravinder Kumar of Vaishno Associates says that land rates have risen by about 50% from 2010 till date in Sohna Road and Golf Course Extension Road.He attributed this to new projects by reputed developers like M3M Ltd,IREO Group,BPTP Ltd,Raheja Developers,among others.A project by Raheja in Sector 68,which was Rs 6,000 per sq ft at the time of launch,is now in the range of Rs 9,000 to 10,000 per sq ft, he says.
The market is down but stable as the volatility is not there and there are more buyers compared to 2010.Kumar attributes this to jobs being offered in the neighbouring prime areas like Golf Course Road,Hero Honda Chowk,etc.In addition,facilities like road connectivity,parks,schools and hospitals,malls are all accessible from these new developments.
Golf Course Extension Road too is considered one of the Top 3 destinations in Gurgaon.The forthcoming projects on this road include Unitech Business Zone,Splendor Epitome and Imperia Orange,among others.Its proximity to other residential hub of the city,Sohna Road and Golf Course Road,is attracting many investors.All facilities like schools,shopping malls,multiplexes and hospitals are very close to this road.
Akash Narang of Infratech Infrastructures said that Sohna Road scores on locational advantage and its excellent connectivity with National Highway 8.The main impetus in Sohna Road has been provided by developers who have helped transform the area into one of the most sought after destinations in NCR.
Very soon,Sohna Road is going to be an IT hub,with access to shopping malls,plazas with multiplexes,on a par with M G Road.Narang added that Sohna Road is one of the most preferable areas for renting in Gurgaon.
Close to the proposed diplomatic enclave,Delhis international airport and the proposed Metro station,Dwarka Expressway is going to ensure good connectivity to the northern areas of Gurgaon and will also ease traffic on the Delhi-Gurgaon Expressway.Also,covering at least 16 new residential sectors,this 8-lane expressway is liable to touch a commercial corridor.
Soham Sharma of Sharma Consultants said that rates in Gurgaon have increased at a fast pace and will rise further in the near future,especially at Dwarka Expressway.The Gurgaon-Manesar Urban Complex plan in the 2025 Master Plan,is intended to connect the Dwarka subcity,Palam Vihar and the planned SEZs in Gurgaon to join the NH-8 near Kherki Dhaula.
