New Gurugram- The ‘destination next’ of real estate in NCR
By Rahul Singla, Director, Mapsko Group
Strategically located between Manesar, Gurugram, and Delhi, New Gurugram is poised to emerge as a prominent realty hub in NCR due to a spate of infrastructural developments, thrust by the government and initiatives by private developers. Comprising Sectors 102 to 113 and Sectors 76 to 95 & 95A along the upcoming Dwarka-Gurgaon Expressway, New Gurugram is accessible via Delhi, Manesar (Haryana) and Neemrana (Rajasthan). It enjoys excellent connectivity to prominent landmarks such as the New Delhi Railway Station, Indira Gandhi International Airport and Huda City Centre metro station. It boasts three highways- Kundli–Manesar–Palwal(KMP) Expressway and Dwarka Expressway and Delhi-Gurgaon(NH-48) Expressway as harbingers of connectivity that has improved further with the opening of Hero Honda Chowk flyover and Southern Peripheral Road.
The proposed developments such as ISBT and Gurgaon-Faridabad metro rail link will further bolster connectivity, decongest the region and make it a sought-after realty destination. Similarly, the construction of a 21-Km signal-free elevated road corridor between Sohna and Rajiv Chowk will reduce travel time between Alwar and Gurugram by an hour. Another underpass proposed at the intersection of Sector 55 and Sector 56 and the shifting of the Kherki Daula toll by early 2021 will facilitate a seamless movement of traffic.
The revamping of the Southern Peripheral Road (SPR) project will transform it into a nerve-centre of activity and will be highly beneficial for residential real estate. A cloverleaf interchange is also slated to open at the intersection of Central Peripheral Road (CPR) and Southern Peripheral Road (SPR) by the end of this year. This will allow traffic to switch between the SPR and Dwarka Expressway, (also known as the Northern Peripheral Road (NPR), without the need to pass through the Delhi-Gurugram Expressway (NH-48).
The presence of corporate hub in Manesar, Cyber Hub and Golf Course Road and Udyog Vihar and burgeoning retail spaces in the vicinity have given a fillip to commercial real estate.
These developments along with the establishment of multiple centres of excellence as envisaged the Delhi-Mumbai Industrial Corridor (DMIC) will ensure a massive socio-economic transformation of the region. It will also boost employment opportunities escalating real estate prices and have a cascading effect on ancillary segments.
New Gurugram is home to vibrant social infrastructure such as world-class resorts, leading hospitality chains, schools, hospitals, banks, ATMs and restaurants.
This area is a preferred residential address for corporate professionals who are exploring residences close to their offices. The state-of-the-art amenities, customized residences and a blend of privacy and social exchange are the hallmarks of the residential properties located in New Gurugram. Numerous Resident Welfare Associations in these townships undertake unique initiatives from time to time to foster a sense of community among residents.
An emerging hotspot is Sector 79 owing to its connectivity via Delhi-Ajmer Expressway (NH-8), Dwarka Expressway and Golf Course Road. It is surrounded by four golf courses. A tranquil living away from the humdrum of the city is a hallmark of this area. Set amidst the verdant greenery of Aravalis, it promises an opulent living. The properties located here also hold bright appreciation prospects due to excellent connectivity that will further improve with the proposed ISBT and ISBT.
Until now, New Gurugram is primarily renowned as a luxury abode for millennials. The proposed implementation of the Ashiana scheme by the Haryana Urban Development Authority will propel the affordable housing segment in the area.
With a strategic location, excellent connectivity coupled with numerous initiatives by public and private players to push real estate in the region, New Gurugram is all set to emerge as a ‘destination next’ realty hub in NCR.