Trustworthy Real Estate Consultant- Bharat And Company

Friday, 26 September 2014

New Gurgaon: Uncertain future

As the city of Gurgaon grew and expanded its boundaries, newer areas needed to be brought under the development umbrella. The new upcoming sectors in Gurgaon encompass the region surrounding the under-construction Dwarka-Gurgaon Expressway (also called the Northern Peripheral Road). Most of these sectors are approved for group housing projects, with a handful of commercial projects also approved for development.
The Next Development Hub
The two main clusters are along the upcoming Dwarka-Gurgaon Expressway in New Gurgaon's Sectors 102 to 113 and Sectors 76 to 95 along the NH-8 connecting Gurgaon to Manesar. Both these clusters were predominantly marketed as affordable and mid-income housing catchments.
A host of projects were launched in these locations over 2009 and 2010. The peak of these areas' popularity was in mid-2010; however, as with most developments, a generic price rise of between 15-20 per cent dampened demand with price-sensitive buyers.
Although still favoured by budget home seekers, these areas have also seen recent launches in the premium segment by bigger developers like Sobha, ATS and Puri Constructions.
This phenomenon has attracted high net-worth buyers and investors who are looking for capital appreciation opportunities. In comparison to projects in the Dwarka - Gurgaon Expressway precinct, the developments along the NH-8 — spanning sectors 76 to 95 — are selling at lower price points.
Connectivity to these areas is expected to improve further with the development of the Northern Peripheral Road and the arterial sector roads.

Sector-114, which lies near the upcoming Dwarka Expressway, is designated for commercial use. Due to its proximity to Delhi and the airport, commercial development here is expected to witness good demand levels. However, the demand for commercial office space would depend on the completion of the Dwarka Expressway, the internal sector roads and other infrastructure improvements. Currently, connectivity is through a 24-metre sector road.