REALTY DEVELOPMENT CHANGING SKYLINE OF GURGAON

The quality of real estate developers and the huge gap in demand and supply are crucial factors that are positively affecting the changing skyline of Gurgaon.

    The new developing sectors of Gurgaon are becoming hubs for real estate projects, as the growing demand for housing, improving connectivity like the forthcoming Gurgaon-Dwarka Expressway and KMP Expressway, and availability of land have all raised the potential of these locations. 
    Two factors that are positively affecting the changing skyline of Gurgaon are the quality of real estate developers and the huge gap in demand and supply. 
    With rising demand in housing, most of the realty development has shifted to newly developing sectors of Dwarka-Gurgaon Expressway, main Gurgaon-Sohna Road, and Golf Course Extension Road. According to a report of Knight Franks India, Gurgaon will see the delivery of around 29,900 residential units in these areas this year. 
    After the approval of the New Master Plan 2031, there is great scope for realty development along NH-8 and the newly developing sectors at Sohna. 
    Major developers like DLF, Unitech, Ansal API, Adani Realty, Tata Housing, Godrej Group, Raheja Developers, Emaar MGF, M3M, Satya Group, Ramprastha, BPTP, Assotech, Antriksh, Supertech, etc, have launched projects here in the recent past. 
Location and 
connectivity 
    In terms of location and connectivity, regions like Gurgaon-Dwarka Expressway, Gurgaon-Sohna Road, Golf Course Extension Road and NH-8 are ideal destinations for real estate development. 
    Gurgaon-Dwarka Expressway is an 18km stretch starting from Dwarka and connecting Palam Vihar and the forthcoming special economic zones in Gurgaon, and finally touching NH-8 near Kherki Dhaula. It will not only reduce the travel time between New Delhi and Gurgaon but after completion it will provide faster access to the airport also. 
    With the proximity to proposed diplomatic enclave and in the route of current Metro corridor, Dwarka Expressway will spur the development of the Gurgaon region in the long run. This area is a part of 'New Gurgaon', which is being developed with infrastructure of world-class standards. Extensive land area has been reserved for commercial development along the Dwarka Expressway. 
Gurgaon-Dwarka Expressway 
    The construction of Chintels India Ltd's Paradiso and Sobha Developers' International City in Sectors 106, 108 and 109, Assotech's Blithe in Sector 99, Godrej Group's Godrej Summit, CHD Developers' 106 Golf Avenue, Adani Group's Oyster Grande, ATS Triumph in Sector 104, BPTP's Amstoria Lutyens Park in Sector 102, Antriksh Group's Antriksh Zeal, Raheja Group's Raheja Atharva, Raheja Vedas, Raheja Vedanta in Sector 109, Paras Group's Paras Dew in Sector 106, Puri Construction's Diplomatic Green, Lumbini Terrace Homes of Brisk, Earth Infrastructures' Earth Copia and Earth Towne 2 in Sector 112, etc, have gained good appreciation. 
    With rise in demand, prices on Dwarka-Gurgaon Expressway have almost tripled, from Rs 2,250 per sq ft in 2009 to Rs 7,500 per sq ft today. 
    SARE Homes has recently launched The Grand in Sector 92. These 5-star lifestyle homes have been developed as part of the newest phase of its 65-acre integrated township SARE Crescent ParC. The Grand consists of 23 floors in the 3- and 4BHK format; the size of the units range between 1,853 sq ft and 2,280 sq ft, priced in the range of Rs 97 lakh to Rs 1.19 crore. 
    Vineet Relia, the CEO of SARE Homes, says: "The new project will have airconditioned apartments with sophisticated individual zone control (VRV). An exciting elevation design, a 5-star lobby with two 23-storey atriums and one of Gurgaon's finest clubs, make The Grand a truly stellar product." 
    David Walker, the executive director of SARE Homes, says: "At SARE, we are fully focussed on developing homes that offer our customers a distinctive lifestyle and make their dreams come into reality when they start living here. The homes are designed to match the lifestyle needs of modern homebuyers and provide them with the latest conveniences and amenities by which they can truly experience a luxurious style of living." 
    Assotech Ltd is constructing a group-housing project, Assotech Blith, at Sector 99 along the expressway. REALTY DEVELOPMENT CHANGING SKYLINE OF GURGAON 
    Sanjiv Srivastava, the MD of Assotech Ltd, says: "We have launched Assotech Blith in May and we will give possession by the end of 2015. Our sample flats are ready for potential buyers to inspect and the construction on the project site is in full swing." 
    Spread over 400 acres of self-owned land in Sectors 106, 108, 109, 114, and 115 of New Gurgaon and adjoining parts of Delhi, Chintels Group is going to launch Chintels Serenity, a set of residential towers including two iconic towers. 
    Prashant Solomon, the MD of Chintels India Limited, says: "With an extensive presence in the NCR, we have announced residential and commercial projects of around 15 million sq ft. We estimate an investment of nearly Rs 4,500 crore by 2023 in developing these projects. Escalating demand in residential and commercial sectors, especially in the areas of New Gurgaon comprising Sectors 106, 108, and 109 bordering Dwarka Phase II, proximity to Delhi and the IGI Airport are the key factors that will make these areas attractive real estate destinations in the NCR." 
    Emaar MGF Land Ltd (EMGF), a leading real estate and infrastructure developer, has announced the launch of Imperial Gardens, a fine conglomeration of luxury and fine living, in Sector 102, Gurgaon. The company plans to develop nine highrise towers comprising 580 units of 3BHK apartments, each 2,000 sq ft. The project offers 3BHK flats with family lounge and luxury specifications in a modern gated development over 12 acres along Gurgaon-Dwarka Expressway. 
    Ashish Jerath, the VP sales of Emaar MGF, says: "Luxury has always been our forte. Imperial Gardens is the next chapter in defining luxury in its finest details. We have strategically launched it along Gurgaon-Dwarka Expressway, as the area is designed to change the way Gurgaon currently looks." 
    Fast developing sectors like 37D and 92-95 along the Gurgaon-Dwarka Expressway have a number of quality projects lined up. Ramprastha Group, which has more than 600 acres of land bank here, is going to launch a new project, Primera, at Rs 6,500 per sq ft. 
    Nikhil Jain, the CEO of Ramprastha Group, says: "We have a number of projects like Edge Towers, Atrium, Rise, View along Gurgaon-Dwarka Expressway and the main Pataudi road. Our group has plans to deliver 
    nearly 5 lakh units in the next five-six years." 
    Satya Group has launched Hermitage, a residential group-housing project, on Dwarka Expressway in Sector 103. Hermitage, a 10 acre group-housing project, caters to the luxury segment with proximity and connectivity as its USPs. 
    Manish Agarwal, the MD of Satya Group, says: "Hermitage, with its vibrant features and close proximity to Dwarka Expressway, would be a boon for investors. The group is also planning to launch two more projects on Dwarka Expressway." 
Sohna Road 
    Looking at the prospects of the expanding size of Gurgaon's realty market, the Haryana government has notified the Sohna Master Plan, 2031. After approval of the new master plan, several residential, commercial, and industrial projects are expected to be launched here shortly. More than 20 new sectors have been notified in the new master plan. 
    According to the Sohna Master Plan 2031, 6,110 hectares would be developed with a residential density of 300 people per hectare. The development plan of Sohna has been prepared for a projected population of six lakh people. Over 28% of the area would be earmarked for residential development while 20% of the land has been allocated for industrial purposes. 
    After the approval of the new master plan, another realty player, Gold Souk, has chalked out a plan to invest Rs 1,000 crore in this region. The group is in talks to launch multiple residential projects in the NCR region, majorly focusing on Noida and Gurgaon. 
    Gurgaon-Sohna realty market will be an independent market not affected by price movements and absorption of projects located along Dwarka-Gurgaon Expressway or Golf Course Extension Road. 
    For example, the group-housing projects on Golf Course Extension Road are priced at over Rs 10,000- 12,500 per sq ft, but on Gurgaon-Sohna Road, the rates are still around Rs 4,500-6,500 per sq ft. Thus, the Sohna market will cater to the affordable segment. The townships with group-housing and plotted developments are likely to come up in the area in the price band of Rs 3,500-4,000 per sq ft. 
    Major developers like Raheja Developers, Gold Souk, IREO, Central Park, Tata Reality, Godrej, MVL, Universal, ILD, Avlon, Parsvnath, Paras, and Homestead are planning to launch projects in this area keeping the growth in 
    demand of residential and 
    commercial space in mind. QUICK BITES 
    MAJOR DEVELOPERS LIKE DLF, UNITECH, ANSAL API, ADANI REALTY, TATA HOUSING GODREJ GROUP RAHEJA DEVELOPERS, EMAAR MGF, M3M, SATYA GROUP, RAMPRASTHA, BPTP, ASSOTECH, ANTRIKSH, SUPERTECH, ETC, HAVE LAUNCHED PROJECTS HERE IN THE RECENT PAST