NEW GURGAON still favourite among Investors

Connectivity of the sectors in New Gurgaon makes this micromarket a much sought-after destination for investment and buying.

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Infrastructural development, building of commercial complexes, and spurt in the construction activity of residential projects has made Sectors 81 to 115 sought after for investments. The region registered renewed investor and buyer activity after a number of hurdles choking connectivity of these sectors were removed.

The region is now well connected with important regions of Delhi, namely, Kapashera and Dwarka through Dwarka Expressway.

The USP of the region is its wide network of roads which connect townships and projects. Ease of commute has raised the livability quotient of residents.

Kherki Daula Toll Plaza will be shifted beyond Manesar in the future. The travel time to the IGI airport which takes around 40 minutes at present will be cut short and daily commute will become easier once the toll is shifted beyond Manesar.

What works for homebuyers?

New Gurgaon offers a significantly higher number of ready-to-move-in apartments in projects that are either complete or are in the fit-out-stage. Some of the leading development firms with projects within the region include Vatika, Mapsko, Raheja, DLF, Alpha G:Corp, Ansal Housing, and SS Group. Pushpender Singh, managing director of JMS Buildtech Pvt Ltd, says: “New Gurgaon sectors have got immense boost owing to fast connectivity through better roads and improvement in public utility infrastructure and selfsustained townships, where retail areas have been planned in advance to cater to residential and office developments. New Gurgaon has a good mix of commercial and residential projects to offer that also have good growth potential for retailers and shop-owners. The area offers a perfect case for making sustainable investments to buy and develop real estate or commit to long-term lease with development firms.”

It is for this reason that these sectors are registering healthy retail development along with residential units. Residents moving into the area will have good supporting infrastructure in the region. Along with retail spaces, the area already has schools, banks, etc.

What is on offer?

The area offers 2-, 3-, and 4BHKs of 900-2,500 sq ft. The price ranges from affordable to medium – between Rs 2,300 and Rs 7,200 per sq ft. The average rate is around Rs 4,911 per sq ft.

In addition, there are costly penthouses and plots too. The rates of apartments have risen in the past few months on account of a clear visibility on some of the key residential projects in the region.

Compared to most of the neighbouring locations like Dwarka Expressway or Sohna Road, rates here are still lower. The rates, however, are equivalent to some of the upmarket localities of Noida. Some of the outer areas like Sectors 112, 113, and 114 have low demand.

What lies ahead?

The region has seen some rationalization in rates in recent months. Developers and realtors, however, remain bullish on New Gurgaon sectors. It is for this reason that rates have not seen drastic correction despite oversupply in the area.

It is likely that the region will stabilize in rates at these levels.

Sanjay Khanna, a realtor, says: “In a few sectors, there has already been some rationalization in rates. We don’t expect further correction.”

The relatively lower rates of apartments and improved connectivity within Gurgaon and Delhi will continue to be the biggest selling proposition of this area to prospective homebuyers.

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