The much awaited metro undertakes improved connectivity and expediency to the residents of Gurgaon. The better connectivity will give advantage to lakhs of employees operational in MNCs in the Cyber city. You will be pleased to know it is the India’s first operational rapid metro service that is funded in private. It is ready to connect Delhi metro commuters to six main cities within the city. The first phase of the metro will be in running mode and will cover a distance of 5.1 km.
There are two more phases that are planned in the same project. Although, there is already operational metro line functioned by Delhi metro however it does not connect all the prominent areas. So, in the first phase of rapid metro will connect Cyber city with Sikandarpur metro station and second phase will connect Sikandarpur with highly populated sectors-55 and 56 and Golf course road as well that are considered to be the main core of commercial and residential real estate expansion in Gurgaon.
Will real estate market be impacted by the rapid metro’s connectivity? Gurgaon’s realty market is going to get boost up with such developments. When the Delhi metro line became operational it impacted a lot to the property prices in nearby areas because of better connectivity. Likewise once the rapid metro gets operational, it will give a big push to real estate market of the Gurgaon. Commuters will get big relief from the daily hassle that they have to face because of lacking of transportation and commutation. Thus, it will help buyers and the developers as well.
Thus, this infrastructure development is likely to attract investors and will improve the quality of life of the personnel. Expert says builder plots in DLF phase 1 that face Golf course road will get maximum benefits. Consequently, property prices will increase in the area. Majorly if we see, phase II will cover DLF city phase 1, 4 and 5 and sectors- 27-28 and 51 to 57. More, the area is likely to cover areas like Golf course road and Central Park. Hence, these are the areas that will be much impacted by the rapid metro in Gurgaon.
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As per Gurgaon 2031 master plan and final development plan of Gurgan-Manesar complex, the property markets of Gurgaon and its developing satellite cities such as Sohna, Manesar and Dharuhera etc are likely to go northward. There are more than 20 sectors that are advised in the Gurgaon, 2031 master plan. There are more than 12 group housing projects and two townships would come up in the above mentioned residential sectors. There are 8000 residential units and plots in these sectors. The sectors include Dwarka Expressway, Northern Peripheral Road, Golf Course Extension road, Dharuhera, Manesar and other peripheral region such as Sonipat, Kundli, Sohna, Palwal, Ballabgarh etc.
It is estimated the population will be around 42.50 lakh by the year 2031. According to this estimation, there will be maximum opportunities for realtors operating in the region. More, the master plan would create an IT hub in Sohna. This is the main reason the demand for commercial properties are more than residential properties in Sohna. Since Sohna is an IT hub, residents would not have any issue coming from Bhiwadi for working purpose.
While we talk about Bhiwadi, developers are looking the city for the residential purpose mainly. There is a huge demand in Bhiwadi for residential space. Consequently, the vacancies for jobs are available at huge level because of increasing number of industries in the city. If the jobs are there the demand for residential properties will increase too accordingly. And if the habitation begins, the demand for commercial will see an increase in the region. Bhiwadi is squeezed between the two highly sophisticated cities like Jaipur and Gurgaon. Since the industries have been located in Bhiwadi, a middle class person considers this person simply comfortable option because of the lack of the affordable residential option in Gurgaon.
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As Gurgaon is left with less space for upcoming industries, the infrastructural development is taking place at fast pace nearby Sohna road. By seeking rapid growing prominence of the city, numerous industries have started to transfer there from the last two-three years. When we compare service sector with the manufacturing industry, the probability of returns from service sector comes almost twice and it is good to know that approx 75% of the industries in the region of Sohna road deals in the service sector.
There has been high increase in the relocation of industries nearby or at Sohna road. It is expected that the 10 to 15 percent additional returns can be achieved in coming two to three years and after that it would be nearby 30 to 35 percent. The industrial revolution is being observed in the area because of infrastructural developments in the area which took place in last three years.
Sohna road is well-connected with the apprehensive areas such as Delhi, Gurgaon, Jaipur, Golf course, Faridabad and other prime locations where property owners rather prefer to move nearby Sohna road. As per plan 2031, industrialization is expected to get a further boost. Gurgaon will spread upto Sohna and Dwaka as per master plan of 2031. It is expected to establish an IT hub in Sohna. People are looking forward for investment in commercial sector rather than residential sector. The residential property in the area is moving towards north side. Even if the people living in Bhiwadi which is quite affordable place would not have any problem to commute here in IT sector in Sohna road.
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The status of Bhiwadi as a premium location of the NCR that has been projected to its extreme position attracts most of the investors and developers firmly believe on the prominence of Bhiwadi. Knowing the city as a premium industrial town, Bhiwadi is comprised with industrial centres of Bhiwadi, Chopanki, Khushlhera and Sare Khurd. However, today brand Bhiwadi stands for quality living at affordable values in the midst of other things. Relatively low land prices, good connectivity with Gurgaon and other key areas of other portions of NCR, growing housing demand attracts the various renowned developers to launch residential projects within Bhiwadi and outside of Bhiwadi.
Economy activities have been stimulating real estate developments in prominent areas of Bhiwadi. You can see the set-up of large and medium scale industries that have created a huge demand for residential real estate development which generated high demand for retail real estate sector. According to upcoming master plan area and statistics, the population has been increasing at high rate here. Since inception Bhiwadi is well-known as an industrial area but now it has become a large modern-day residential town.
Bhiwadi offers great location benefits too. This industrial town is beautifully located along the borders of Haryana and Rajsathan which is well-connected to numerous regional centers throughout Delhi-Jaipur National Highway and other connecting roads. Distance wise, Bhiwadi is approx 40 kms away from Gurgaon and 70 kms from CBD of Delhi. The city has several traffic and transport networks that are the main factors that have go ahead to the development of the real estate sectors in the city.
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Gurgaon has become an exciting commercial as well as residential hub with elevated sky touching buildings, posh residential colonies and busy commercial complexes. Some of the areas that come in of buyers and investors interest include Southern Peripheral, Golf Course Extension road, Pataudi road, Dwarka Expressway and NH-8. We have seen Gurgaon growing over the time that has come up with an enormous development in infrastructure of the area, well connectivity with metro and Huda is spreading out its area as Golf Course road and other most constructive growth in economic position, price appreciation in the coming two-three years, promising infrastructure and land acquisition policies.
As per latest reports, Gurgaon has absorption of approx 3 million sq. ft. office spaces in 2013. Consequently it effects on the residential demand in the city which is increasing at fast pace simultaneously. Gurgaon possesses top ranking medical centers such as Fortis along with Madanta and with the equal number of good schools for the kids. In this why, Gurgaon is coming up with the resolution of social infrastructure challenge which comes in the other new cities or satellite towns.
The recent depreciation in the rupee against the US dollar that has come up as a generous move for the NRIs who are finding a better option in India due to exchange rate benefits. NRI’s in India have even gone to the extent of broadening their prospect and are willing to invest in high-end studio apartments, office space, hospitality, malls and many more other segments of the industry. If the infrastructure develops and improves Gurgaon city promises best returns in long term investment.
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Finally, Haryana Urban Development Authority (HUDA) allows Sohna road to have power lines get converted from overhead to go underground as the proposal has been delaying from the past two years.
HUDA official says funds of the project have been cleared already and project is likely to start shortly. This money will be utilized by HUDA with the name of internal development charge to finance the project valued around Rs. 30 crore. HUDA Chief administrator Mr. AK Singh has accepted the offer and demanded the summary of the project plan.
According to plan, non-metallic pipes of 20 feet below the ground will be running inside shortly that was running with the network of 11,000 volt overhead wires along with a fix board room at every 70 meters of distance earlier. Since underground wiring is quite favorable from security point of view as it has lesser risk of breaking down because of external causes. More, underground cables have more efficiency of power supply and easier to revamp.
HUDA announces that plots that are having overhead power lines will not be agreed for residential and other types of development. Only the areas where wires will go underground will be opened for multipurpose development like residential, commercial or any other.
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Faridabad city is the biggest city in the state of Haryana. From North side, the city touches its border with National Capital and Union Territory, Gurgaon district shares its boundaries from west side and the city touches Uttar Pradesh from east and south sides. Hence, from geographically and politically both ways the city enjoys a prime location.
Affordable prices and close proximity to operational areas in Delhi, Greater Faridabad and Gurgaon is contributing towards enlarged residential projects in Faridabad. Recently developed metro rail service and modernization of Mathura road will help increase the demand for property in Faridabad.
Neharpar area falls under sectors between 75 to 89 will connect Kundali-Manesar-Palwal expressway will connect Neharpar with Delhi and Gurgaon. On the other hand city connects with existing posh sectors 14 and 15 nicely. The average flat prices in the area ranges between 3700 per sq. ft. The return on investment can be expected an increase of 1 percent year on year.
Surajkund is prime green area of existing Faridabad that connects with South Delhi easily. Gurgaon-Faridabad road and Mehrauli- Badarpur road are easily accessible to this area. The average price for flats for sale is Rs. 6900 per sq. ft.
Green valley is a posh location of Faridabad that is again very well connected to South Delhi, MG road, Mathura road, Metro station, Crown mall and Big Bazaar. The average price for flats for sale in this area is Rs. 5700 per sq. ft. The location will definitely will give the best returns on investment.
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The travelers of Delhi-Gurgaon Expressway are likely to get big relief from the toll tax since toll plaza in 12 of the 16 lanes which had been catching up with huge traffic jams. Delhi High court has finally announced to dismiss the toll tax since the legal dispute has been over now.
After this verdict, the union highways ministry has issued a notification discharging toll collection at Delhi border plaza. Once the first toll plaza will be removed, the fresh toll rates will be charged at another plaza, Kherki Dhaula which is on 28 km highway. Daily commuters of Delhi and Gurgaon will be getting big relief from this move in toll service.
The purpose is to provide a big relief to the commuters who have been facing a major traffic jams on this stretch on regular basis. Traffic which is going through Kherki Dhaula Plaza will have to pay the toll for whole stretch.
The court is tending to acknowledge the agreement settled down among the three parties, explicitly, NHAI, DGSCL, IDFC Ltd and as applicant (SDMC) is not a party to the accord; its independent appeal is also awaiting.
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For those standing on a waiting row since long to sell property at a good profit, a general election of 2014 is likely to be a turning point for them. Due to economical and political uncertainty there has been high fluctuation in the market, high inflation and decreasing value of the rupee. While real estate experts state that alert market sentiment will overcome at least till the first half of the year 2014, the post elections phase will impart to upturn of the real estate industry that has not been doing well over the years.
The second half of the year will be likely to spectator as a gradual simulation in fascination of residential apartments. Real estate capital value is likely to increase between the ranges of 10% to 12% year on year across India for the entire year.
The residential market will possess a big amount of ready stock go through the market this year. Developers will adopt a careful move towards new developments. Rental values will be impacted by these developments. End-users will have more opportunities that will be available in the primary and resale market.
For end users, Gurgaon will be the most crucial destinations because of its well-established locations such as Golf Course Extension Road, Dwarka Expressway and New Gurgaon are options to search out for. If we see from the investor’s point of view, we find areas close to Gurgaon such as Bhiwadi of Rajasthan, Sohna which is nicely adjourned with Gurgaon and Faridabad city that is recently developed at fast pace, possess the real potential to offer fruitful returns.
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Since the real estate market has touched the heights in Gurgaon city, the property rates have also gone beyond the average limit of a middle class man of today. In such situations, they would definitely want to have property in some adjourned cities like Sohna. If you are operational in Gurgaon and due to having limited source of incomes you are not able to buy property in Gurgaon. On the top of it, Gurgaon’s living standard is also quite expensive that is not easily affordable by every job class person. In that case, if you go ahead just 10 kms. from Gurgaon you reach at Sohna which has quite cheaper property prices. If we compare the rates of both the locations we find Gurgaon’s land is priced at Rs. 1 lakh and Sohna property prices come within 30,000-35000 per sq. yrd. So, there is a huge difference in property rates.
Real estate developers are looking forward to invest here at largest scale because of huge infrastructure developments taking place at fast pace here. According to master plan of 2031, Sohna is yet to be more developed in near future. Sohna is going to bring you near to all the lavishness that would include innovative group housing societies, latest modern-era townships, luxurious residential and commercial projects and huge plotted developments.
Sohna and Gurgaon both are beautifully interconnected with each other via Sohna road, consequently real estate growth of one city impacts the other one amazingly. As we all are aware about the immense development in Gurgaon, most of the renowned developers of NCR have started coming up with equal level of residential and commercial projects in Sohna as well.
Hence, it is advisable for all types of purchasers either they are investors or end users to make maximum investments in Sohna preferably. Particularly, you can have more focal point on those areas that have been included in the master plan of Sohna, if you are looking for maximum returns in a short while.
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